(re)positioned for success kent gibson, boma fellow chair and ceo of boma international president of...
TRANSCRIPT
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(RE)POSITIONEDFOR SUCCESS
Kent Gibson, BOMA FellowChair and CEO of BOMA International
President of Capstone Property Management, L.C.
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Repositioning an Office Building
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What does the building look like?
Rear Entrance Lobby
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Interior of the Office Space
Tenant Space Cubicles Tenant Space Hallway
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Amenity & Service Areas
Existing Cafeteria Existing Bathroom
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Getting the Best Return
How do you position your building to get the most out of your amenity and
service areas?
Getting the Best Return
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Occupant Area 133,637 sq. ft.
Rentable Area 175,382 sq. ft.
Load Factor B 1.31238
Market Load Factor 1.185
Existing
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Potential loss due to
excessive amenity and service areas
17,022 Rentable Square Feet
$559,852Annual Net Operating
Income
$7,000,000Building Value (using
an 8% cap)
Existing
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Existing 1st Floor
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Repositioned 1st Floor
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Existing 2nd Floor
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Repositioned 2nd Floor
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Existing 3rd Floor
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Repositioned 3rd Floor
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Existing 4th Floor
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Repositioned 4th Floor
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Existing 5th Floor (Penthouse)
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Repositioned 5th Floor(Penthouse)
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Occupant Area 133,637 sq. ft. 157,013 sq. ft.
Rentable Area 175,382 sq. ft. 177,173 sq. ft.
Load Factor B 1.31238 1.17331
Existing Repositioned
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$610,680 Annual Increase in NOI
$7.6 million Increase to Building Value
Repositioned
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Existing Lobby
Renovated Lobby
Additional Improvements by Repositioning the Building
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Before
After
Restrooms
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Before
After
Cafeteria
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Rear Entrance
Before
After
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Front Entrance
After
Before
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Designation Examination:BOMA 360
The BOMA 360 designation provides validation and industry recognition of buildings that demonstrate best practices encompassing all major aspects of building management and operations.
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BOMA 360: Criteria• Administered by an independent council • Evaluates building performance against industry best practices • Examines 6 key areas of building operations and
management:• Building operations and management;• Life safety/security/risk management;• Training and education;• Energy;• Environment/sustainability; and• Tenant relations/community involvement
• Satisfy requirements in all 6 areas to be awarded the prestigious designation
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BOMA 360: Value• Maximizes operational performance• Identifies areas of strength/need for improvement• Ensures continuing standards of property maintenance• Increases sustainability/environmental practices• Improves overall management quality• Management transparency = Recognition• Serves as a training tool for property personnel• Differentiates building in the marketplace, providing tangible
benefits to the property
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BOMA 360: ValueTenants Rate 360 Buildings Better
• BOMA 360 buildings rate higher in all 54 rating areas of tenant satisfaction measured by the Kingsley Index.
• 95% of tenants in BOMA 360 buildings report high overall satisfaction with property management.
• 91% of tenants would recommend their office building to others versus 87% in non-360 buildings.
• 78% are satisfied with the value received from the amount of rent paid versus 72% in non-360 buildings.
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Tangible Benefits• BOMA 360 buildings command higher rents than other Class
A buildings.• BOMA 360 buildings have higher tenant retention rates than
other Class A buildings. • BOMA 360 buildings have lower vacancy rates than other
Class A buildings.
BOMA 360: Value
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BOMA 360: ValueIncreased NOI
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BOMA 360: ValueBOMA 360 Buildings Outperform LEED
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BOMA 360: Case Studies
Terminal TowerCleveland, Ohio, United States
Innovation in the Central Business District
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BOMA 360: Case Studies
Brandywine Realty TrustPhiladelphia Metro, USA
Keeping Suburban Markets Competitive
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BOMA 360: Case Studies
Newell RubbermaidGlobal Headquarters
Atlanta, Georgia, USAAchieving Corporate Facility Excellence
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BOMA 360: Case Studies
OHSU Center for HealthAnd Healing
Portland, Oregon, USAWellness Check-Up for MOBs
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THANK YOU!спасибо
Kent Gibson, BOMA FellowChair and CEO of BOMA International
President of Capstone Property Management, L.C.