Projects

VERTEX completed Property Condition Assessments (PCAs) in support of a real estate transaction for the acquisition of industrial buildings in the greater Tampa area. VERTEX mobilized two-person teams of assessment professionals to complete field work within a three-day period and provided findings to the client within two weeks of authorization.The project included in-depth evaluation of 12 industrial warehouse and distribution buildings with an aggregate total of 1.1 million square feet. The buildings ranged in age from 5 to 40 years and were in variable condition. VERTEX discovered a wide range of issues at the buildings, including site erosion, drainage complications, structural deficiencies, failing skylights and roof coverings and inoperable mechanical equipment.We identified over $250,000 in needed Immediate Repairs and developed budgets for over $5 million in future Capital Reserve Costs. This information was utilized by the Client to assist in negotiating better terms and purchase prices for the various structures and to initiate repairs and renovations for selected building components prior to ownership transfer.