Property Condition Assessments were completed in support of a real estate transaction for the acquisition of 75 sites. VERTEX completed all of the site visits in a four-week period and submitted reports for client review for all sites within six weeks. Evaluations included reviews of multiple lease arrangements with differing maintenance responsibilities between tenant and landlord at the various sites.
Reporting focused on areas of immediate and short-term concern, and repair estimates were provided for each individual site. In addition, a tabulated spreadsheet consolidating concerns within the portfolio was provided and indicated sites of greatest concern based on a custom developed “Facility Condition Index.”
The mixed-use portfolio included: Fitness Gymnasiums, Daycare Centers, Fast-Food Restaurants, Retail Centers/Malls, Industrial Warehouse and Manufacturing Facilities, Pet Care Facilities and Auto Service Centers.