What do I need to know before I buy or lease that property?

Patrick T. Bell G2 Consulting Group Project Manager

Patrick T. Bell
G2 Consulting Group
Project Manager

“Buying or leasing a property is a significant commitment of money and time, says Patrick T. Bell, project manager at G2 Consulting Group. “One of the more stressful aspects of purchasing, owning or leasing property is what kind of investment is required to maintain the value and functionality of the property.”  G2 helps our clients determine its needs with a Property Conditions Assessment.

At G2 Consulting Group, we understand how real property conditions impact the business of our clients. Ownership of commercial property requires a continually evolving plan with regard to maintenance, repairs, and long-term capital planning. G2 offers Property Condition Assessments (PCAs) as part of due diligence for clients that may be purchasing, leasing, or simply maintaining a property. PCAs provide valuable information to help owners or potential owners understand what investment is required to maintain the value of a property.

G2’s project professionals follow ASTM E2018 guidelines, the recognized standard of major lenders. PCAs completed under ASTM standards provide estimates of probable costs for changes or repairs that require immediate attention. The PCA also provides opinions concerning probable costs to remedy physical deficiencies that need to be made in the near future, usually within the first year or two.

G2’s four-step PCA process includes:

  1. Walkthrough / Site Visit
  2. Interviews of key site personnel
  3. Document Review
  4. Analysis & Reporting

 

G2 Consulting Group will provide clients with a comprehensive Property Conditions Assessment Report that includes the following basic scope:

Site

  • Topography and Storm Water Drainage
  • Access and Egress
  • Paving, Curbing and Parking
  • Flatwork
  • Landscaping and Appurtenances
  • Ancillary Structures

Structural Frame and Building Envelope

  • Foundation
  • Building Frame
  • Façades or Curtain Wall
  • Roofing

Mechanical, Electrical and Plumbing System

  • Heating, Ventilation and Air Conditioning
  • Electrical
  • Plumbing
  • Elevators and Escalators

Interior Elements

  • Common Areas
  • Tenant Spaces

Fire/Life Safety

  • Sprinklers and Standpipes
  • Alarm Systems

 

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