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Winter snow calamity

Being proactive before inclement weather hits

by on 7 December 2017in Property Management

Last winter was difficult for most Central Oregonians. Those feelings of frustration show as people were stocking up on supplies like snow blowers and shovels before the first hint of significant snow flurries this year. For your commercial property, there are many ways to be proactive in addition to having a snow blower on hand when the weather turns cold. Here are some tips based on policies our Asset & Property Management team uses to maintain Central Oregon commercial properties.

Weatherize the building beforehand

When it comes to inclement weather, it’s important to be prepared. As property managers, we work with our clients to come up with a plan so each property is as ready as possible. Last winter taught us some lessons and we spent time to prepare for this cold season during the summer. For instance, a few of our buildings had gutter systems, yet didn’t have heat tape. This allowed ice dams to build up. When left untreated, the ice dams can cause large amounts of water damage and become very costly for building owners. Therefore, heat tape was added to the buildings according to need. This year, we’ve already had one snow and multiple mornings with frost, but it’s not too late to improve buildings so they are ready for the snowy and icy weather that will come with the winter months.

Plan for snow and ice removal

In addition, snow accumulation has the potential to cause accidents in parking lots, driveways and sidewalks, and snow-melt from shoes and boots, in entryways has potential to cause slips and falls. However, taking time to formulate and implement a plan as to when snow removal will happen, where snow will be moved within parking lots and sidewalks, and what process will happen for de-icing, etc. will aid in a smoother winter season, no matter the precipitation. Most cities have a policy for snow removal on commercial properties, and it’s important to take this into consideration. However, the city’s policy is not always the best standard for clearing snow around commercial properties and may need to be done more frequently to allow customers to access the business. Creating a policy based on the individual customer base is advised.

Protect pipes

If temperatures are forecast to drop below 20°F, protecting pipes from freezing is essential. When air temperatures drop too low, they can easily freeze exposed or pipes without insulation, causing significant damage and costing property owners and tenants money, especially if there’s flooding. Burst pipes have potential to create horrific situations that take time and money for remediation, however, they can also be prevented with the right plans in place.

As you may be shopping for the best snow blower available or tuning up an existing one, remember to prepare and make a plan for a variety situations you may face. If you’re looking for a world-class property management company to help you plan and manage your properties and lower risk this winter, give us a call at 541-330-0025.

Recently Cascade Business News published an article from SAIF, Oregon’s not-for-profit workers’ compensation insurance company. Read the article here for further tips about safeguarding your business this winter.

Mill Point Snowy Day

A winter message from Asset & Property Management

by on 10 January 2017in Property Management

Dear Tenants, Landlords and Vendors,

As you know, we are under severe weather. With the snow piling up and low temperatures, we have emergencies at most of our properties. We assure you, we are getting to them as fast as we can. Our vendors do not have the personnel or the machinery to keep up with a storm like this one, so there will be delays.

Please be safe. Watch out for ice patches, watch out for snow coming off the roofs. Don’t park or walk in areas where you could be placing yourself in danger. With the amount of snow accumulation we are seeing and the cold temperatures, we have probably not faced the worst of this storm as the melting snow and ice will probably cause more problems in the next few days.

Please go home early and work from home if you can. If you have a non-emergency issue please hold off for a few days so we can concentrate on the actual emergencies. And please be patient. We will continue to work with our vendors and staff to resolve all the issues as they come up.

If you are experiencing a property related emergency, please call us at 541-330-0025.

Thank you for your patience and support.

The Property Management Team

 

Here is more information about our services.

CASE STUDY: Bonnett Properties Portfolio Dramatically Improves Occupancy

by on 10 November 2014in Client Solutions/Case Studies, Property Management, Sales/Leasing

Summary: Asset & Property Management Assignment

Bonnett Properties, LLC contracted Compass Commercial Property Management in August of 2011 to provide asset management services for a portfolio that included overseeing the management of a five building Class A office campus.

At the time of taking on the assignment, the client’s existing portfolio stood at 56% occupancy with a number of leases on a month-to-month lease or with leases coming due within months. When Compass Commercial Property Management took on the assignment, at-risk tenancy translated into 24% effective stabilized occupancy.

 

Objective

Bring the portfolio to full occupancy and efficiently manage the properties within the portfolio to enhance the client’s investment.

Result

Following a detailed review of the portfolio, Compass Commercial Asset & Property Management presented a comprehensive portfolio management and marketing strategy to the client with clear goals to help maximize the portfolio’s assets.  The team’s professional execution of the plan quickly enhanced the value of the portfolio, and effective marketing of the property achieved desired results. Within thirty months, Compass Commercial Property Management brought the portfolio from 56% to 92% occupancy. Today the portfolio is at 100% occupancy with long-term leases in place and high rents. We have enjoyed a 100% renewal rate of all tenants within the entire portfolio.

Compass Commercial Team:

Asset & Property Management: John Keba, CPM®, ARM®

Brokerage: Peter May, CCIM, Darren Powderly,CCIM, Jay Lyons, CCIM

CASE STUDY: Taking the Bond Business Suites to 100% Occupancy – 1051 Bond Street, Bend

by on 10 July 2014in Client Solutions/Case Studies, Property Management, Sales/Leasing

Project Summary

Sale of a 100% leased mixed-use ground up development property in downtown Bend anchored by an acclaimed restaurant as well as regional legal and financial services firms.

The Challenge

The Owners of 1051 Bond Street retained Compass Commercial in 2005 to help them evaluate the sale versus development of their obsolete one story office building in downtown Bend. After a thorough analysis of the site and the market conditions, Compass Commercial made a recommendation to sell the property. However, the Owners took a multi-generational view of the property and decided to proceed with the development of a four story mixed use restaurant/office building. Unfortunately, shortly after the shovels hit the dirt, the Great Recession struck and the leasing market came to a screeching halt.

The Solution

Develop an aggressive approach to lease the property over the next 24 months to accomplish 100% occupancy by 2011. Despite the fact that the initial restaurant tenant failed to survive the Great Recession, Compass Commercial successfully secured key tenants such as Brother John’s Alehouse which continues to occupy the space as one of downtown Bend’s most popular restaurants. Current office tenants include a mix of legal firms, wealth management, and finance and mortgage companies. Broker, Darren Powderly, CCIM also assisted the building Owners with lender negotiations resulting in a long-term fixed rate mortgage.

Compass Commercial Team:

Brokerage: Darren Powderly, CCIM
Property Management: Herb Arathoon, CPM®

CASE STUDY: 18 NW Oregon Avenue – Upgrades, energy incentives give downtown building new life

by on 3 February 2014in Client Solutions/Case Studies, Property Management, Sales/Leasing

Project Summary

18 NW Oregon is an 8,000 square foot office building located in downtown Bend. The building had been vacated by its tenant, a medical provider, and sat empty for over a year.  Built in the 1970s, the building’s aging exterior and dated interiors kept it from competing with new and updated downtown office spaces.  Advantages to the property include its prime location kitty-corner to the Visit Bend office on Lava and within walking distance of all downtown Bend restaurants and shops.  It has direct parkway access and great on-and off-site parking.

Approach

Erich Schultz, SIOR, partner and principal broker with Compass Commercial Real Estate Services worked with the building owner to determine the goals for the property and arrived at two options: Sell the building empty and as-is, or keep the property and reinvent it through a major renovation to appeal to new tenants. If the owners decided to hold onto the building and remodel, the building needed to stand out in a downtown office market with more than 16-percent vacancy.

Winning Results

The owners agreed to reinvest in their building and with Compass Commercial’s recommendation, hired Ambient Architecture, LLC, to give the 8,000-square-foot building a fresh look and reduce its overall energy consumption.  The concept was to re-image the building as sustainably minded with updated interiors, new exterior details, revised suite layouts and a contemporary character.  The remodel also includes the building’s new carbon-footprint-offsetting solar array.

Ambient coordinated with Energy Trust of Oregon to secure financial incentives for the owners. The integrated energy-saving upgrades focus on occupant comfort and include new windows, insulation and an improved HVAC system.

The changes will reduce the cost of operating the building, making it more affordable for tenants. New windows allow an abundance of light into the structure, giving it new life and energy.

The remodel of 18 NW Oregon provides suites ranging in size from 1,600 to 4,000 square feet. Construction by Sunwest Builders began in early April and the project completion was on schedule for availability and occupancy in August 2013.

Compass Commercial Team

Brokers: Erich Schultz, SIOR, Darren Powderly, CCIM and Jay Lyons, CCIM

Property Management: Herb Arathoon, CPM®

CASE STUDY: Marketing a Vision and Embracing Possibilities at Old Mill Marketplace

by on 10 October 2013in Client Solutions/Case Studies, Construction Services, Property Management, Sales/Leasing

Old Mill Marketplace – 555 NW Arizona Avenue, Bend, OR

Project Summary

Old Mill Marketplace is a mixed-use retail and office building with 83,565 rentable square feet located in the burgeoning corridor between the Old Mill District and downtown Bend. The property, with its prime location and historic structure that once served as an old mill box factory was not without its challenges.

Investors from Portland purchased Old Mill Marketplace seeking an opportunity to capitalize on Bend’s recovering market and the property’s unique qualities including flexible spaces, great location, highway access and visibility.

 

Challenge

With challenges that included a lack of tenant synergy, little to no marketing, incongruous parking, limited tenant signage and pedestrian access, among a long list of property maintenance issues, Compass Commercial presented the owners with a complete vision for the property.

Approach

The team recognized the potential for the project and focused on presenting a full range of possibilities to maximize the value of the property. Integrating resources from Compass Commercial’s brokerage, property management, construction services and marketing teams, the project proposal included a full-scale vision for property. The scope of services and marketing plan ranged from a base-case leasing plan, to improving the parking and targeting local tenants that would enhance the existing qualities of the center, on to drawing larger scale tenants appealing to a broader customer, and all the way to proposing a new building development, or a complete demolition and redevelopment of the property.

Result/Solution

The Investors agreed to a smaller scale approach by focusing on improving the parking, making enhancements to landscaping and signage while working toward a broader vision, as the area experiences more growth and demand. Compass Commercial has focused on making smaller scale improvements to the property while securing new leases with Longboard Louie’s, Recharge and new anchor tenant, Immersion Brewing. The project continues to develop as the corridor evolves with new area developments and construction.

Compass Commercial Team:

Leasing Brokers: Russell Huntamer, Principal Broker, Jay Lyons, CCIM

Property Management: John Keba, CPM® ARM®, Krista Polvi, CPM®

Construction Services: Steve Hendley