The Sexy Side of Property Management

We usually talk about tenant-facing office property management like ice cream socials, but there’s so much more going on behind the scenes (with big money involved) that we’ll address at Bisnow’s special Property Management & Office of the Future Summit on Aug. 28. (Not to downplay the importance of ice cream.)

Partner Engineering and Science, Inc. (Partner) principal Bob Geiger, one of our speakers, has noticed a major energy efficiency trend in his world of due diligence and property management. In fact, ComEd just launched a retro-commissioning (RCx) services express program, lowering the size criteria for office buildings to 150k SF (meaning smaller suburban offices are now in play). Why you should care: easy fixes giving buildings at least 5% annual energy savings, ComEd pays the engineer’s fee, and payback in 18 months or less. It’s basically getting your building to “breathe right” again, and it’s a program that makes business sense, Bob says.

Bob is seeing an increasing number of suburban office buyers and property managers looking into retooling and finding bottom line savings, given their sluggish rent growth and spillover demand for creative office from the city (thanks, Sterling Bay). Common situations for Partner include: taking a close look at the ability to reconfigure the HVAC (Basis for Design Evaluation scope) in addition to simply assessing the current condition as part of a Property Condition Assessment; sometimes having an in-house MEP specialist resolve tenant disputes over HVAC; and adding BOMA survey measurements to corroborate property and unit specific square footages against marketing materials. Get your event tix here!

Continue reading this story with a free account

Log in or register
Sign up for more articles like this
Subscribe to Bisnow's Chicago Newsletters
Related Stories

As AI Adoption Ramps Up, Half A Million Property Managers Are In The Crosshairs

Mars Factory Overhaul Stalls As Candymaker's Chicago Expansion Accelerates

While Chicago Development Stalls, Fulton Market Keeps Building

AI Has Saved Time But Muddied Traffic Data For CRE Marketing Execs

How JLL Uses Experiences To Give Retail Customers 'A Reason To Be There'

Amazon Close To Deal For Goose Island Warehouse: The Chicago Deal Sheet

'A Welcoming Destination': Arlington Heights, Illinois, Is Making Big Investments In Its Future

Chicago Ranks No. 3 For AI Job Growth As Office Market Stands To Benefit

Legionnaires'-Linked Building Owners Repeatedly Warned, Data Shows

108-Acre Hawthorne Race Course Set To Trade In Bankruptcy Sale

Mapletree Breaks Ground On 419K SF Industrial Facility: The Chicago Deal Sheet

Chicago Fire Stadium Nears $425M TIF Boost