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Issue of May 26, 2008 |     |
A Step AheadBy Katie Curnutte Fenway Park is getting a lot of hype this month for the new solar panels that will heat 37 percent of the ballpark’s water and reduce its carbon emissions. But it’s not the only Boston property that’s undergoing such changes, and the Boston chapter of the Building Owners and Managers Association is doing everything it can to help property managers and owners figure out how to go green. Employing On-Site Managers Can Maximize a Property’s ROI By Patricia Holland Representing the property owner, a property manager is responsible for maintaining a building and its property, collecting rents and responding to tenant requests. However, in today’s day and age, on-site property managers are a rarity. Why the shift from on-site to off-site property managers? Energy-Management Strategies Can Streamline Property Expenses By Mark Robbins While occupancy, maintenance and zoning matters consume a great deal of property owners and managers’ time, these professionals also must consider other important business components, such as energy costs, to remain competitive. When left unmonitored, energy costs can become a large drain on an individual property’s net operating income as well as an entire portfolio’s profitability. However, there are numerous solutions and strategies that commercial real estate professionals can use to reduce energy costs and there-by increase a property’s or portfolio’s value. Implementing Green Programs Can Help Property Managers Save By John Wiseman Kermit was right. It’s not easy being green. But while it may not be easy, it is worth the effort, since property management companies that can successfully implement energy-efficiency and green-building initiatives are finding that these policies are becoming increasingly important in attracting and retaining clients. Mixed-Use Developments Require Coordination, Collaboration By Sandi Wolchansky Developing mixed-use properties is one of the biggest trends in real estate, but developers looking to build these types of projects need to understand that creating true mixed-use is more complicated than simply stacking office space or residential units over retail stores. Rockville, Md.-based Federal Realty Investment Trust, an equity real estate investment trust, began developing mixed-use projects in the late 1990s after recognizing a strong move back to the urban core was taking hold in the country as empty-nesters no longer needed large homes and young professionals were seeking social interaction. 1031 Exchanges Offer Opportunity For Investors to Profit From Property By Steve Rodgers and Jon Ryan Any successful investor will tell you that the benefits of real estate investing are many: big profits, security and a historical track record of growth. The downsides, however, can be equally challenging. Investors who sell a real estate property face steep taxes that can cut deeply into potential profit, diminishing the appeal of such a transaction. Improve Portfolio Performance With an EPA-Approved Program By Dennis Thurman Because commercial buildings’ energy use accounts for approximately 18 percent of all U.S. greenhouse gas emissions, the commercial real estate industry can benefit from and promote using tools to measure its environmental footprint. The U.S. Environmental Protection Agency’s Energy Star Portfolio Manager, which generates an energy performance rating for buildings and portfolios, is considered the industry standard energy performance metric that can help property owners and managers reduce energy costs. Property Managers Can Use Skills to Harness the Power of Media By Joseph Finora Managing real estate and media relations have a lot in common. Both are most effective when done with the long term in mind and with the help of a professional. Both contain risk – anyone who tells you otherwise is either lying or inexperienced. And there are no guarantees. Owners Selling Property, Business Must Plan Carefully for the Future By Bob O’Hara A recent nationwide survey of construction owners indicates that an estimated 24 percent of all construction-company owners intend to opt out of their businesses within the next five years, either through an internal transfer or an outright sale. Of that number, 50 percent of those responding were unsure or unaware of techniques for transferring or selling ownership. Not surprisingly, a transfer or sale can take a long period of time to transpire and requires a comprehensive action plan. |
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