As we come to the end of this remarkable year, we hope that Building Operations has been able to bring joy and insights to the world of project management. We invite you to explore how innovative solutions can optimize your spaces for efficiency and happiness, while also promoting sustainability and unity.
Take a moment during the holiday rush to enjoy the season’s pleasures. From all of us here at Building Operations, we send warm wishes for a joyful holiday season and a prosperous New Year! Keep an eye out for more exciting updates as we continue to optimize, enhance, and streamline for success in the coming year.
New Project Spotlight: Ameriprise
We are getting close to beginning the finishing touches for our Ameriprise fit-out project located at 10 City Square. The buildout team is working hard to complete the rough MEPFP and drywall installation throughout the space.
The project is scheduled to be finished in mid-January, and we are eagerly anticipating the outcome of this project. See updates below!
Is the Commercial Real Estate Panic Over?
Post-COVID, concerns about the commercial real estate (CRE) market persist due to remote work’s impact on offices, despite their <5% share in the sector. Rising rates have affected the broader REITs market. Fidelity Investments’ analysis, however, indicates robust CRE fundamentals. While offices face challenges, demand in other sectors strengthens, boosting rental rates. Balanced supply and demand, along with diverse lenders, provide a solid foundation. Despite market underperformance, commercial real estate remains a valuable portfolio addition. The Fidelity Real Estate Investment ETF (FPRO), actively managed for global real estate firms with income and growth potential, is recommended. Co-managed by Steve Buller, it has maintained a long-term underweight in the office sector. In a landscape of evolving challenges, commercial real estate stands resilient. So, as you navigate your investment journey, consider the Fidelity Real Estate Investment ETF (FPRO) — a beacon in the realm of global real estate, expertly steering through market dynamics with a keen eye on income and capital growth. Because in times of change, strategic choices can lead to enduring success.
Winter Preparation for Your Facility
As temperatures plummet, it’s crucial to safeguard every nook and cranny of your facility from the biting cold. Areas often overlooked or unseen, such as crawl spaces, closets, attics, and warehouses, are susceptible to freezing temperatures that can disrupt your business operations.
Domestic Water Piping:
Be vigilant about domestic water pipes in isolated or poorly heated spaces. Shut off and drain or protect these pipes with supplemental heating sources to prevent freezing and potential breakages.
Fire Protection Sprinklers:
Ensure the reliability of your fire protection sprinkler systems. Cold weather can compromise water flow, and delayed response times from local fire departments emphasize the need for meticulous maintenance. If heating is lost, restore it promptly. Shutting off and draining sprinkler systems should only be a last resort, with precautions, notifications to fire officials, and contact with your insurance carrier.
Preventing Frozen Pipes:
Implement these strategies to prevent frozen pipes:
- Properly insulate or use approved heat tracing for water-filled pipes in exterior walls or unheated spaces.
- Drain any unnecessary piping during winter.
- Maintain a minimum temperature of 40°F (4.4°C) in susceptible areas.
- Ensure antifreeze sprinkler systems have adequate concentration.
- Inspect and maintain dry systems, including correct air settings, well-insulated pipe closets, and functional heating elements.
- Insulate and heat trace branch lines on wet sprinkler systems exposed to extreme cold.
- Regularly check fire pump test headers and equipment rooms for proper drainage and heating.
Consider employing low-temperature monitoring solutions to guarantee adequate heating in critical areas. Stay ahead of winter challenges with these proactive measures to fortify your facility against the seasonal chill.
Building Operations Services
Property Management
Building Operations specializes in managing real estate by providing strategic and comprehensive solutions to maximize asset performance, reduce expenses, and improve the occupancy experience for both owners and tenants.
What We Do:
- Accounting
- Budgeting
- Variance Reporting
- Tenant Services
- Tenant Improvements Capital Expenditure Planning
- Capital Improvements
- Vendor Contract Negotiation
- Energy and Sustainability Matrix
- Space Design and FF&E Management