May You Live in Interesting Times – CAP’s response to COVID and ever-changing economic pressures

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Whether you believe this is an ancient Chinese proverb or as some report, a phrase coined by politician Frederic R. Coudert in 1939, the message is clear. Times have changed, providing people and businesses alike with unforeseen challenges. It is how we respond that makes the difference.

We went to the front lines to speak with a few of Commercial Asset Preservation’s supervisors of Commercial Services for their reflections on just how interesting the past two years have been from their perspective. Brittany Jacobs and Maureen Fitisemanu are two of CAP’s supervisory staff that have worked to overcome the challenges of our times.

“CAP has adjusted and pushed forward through the trials and tribulations in the new ‘normal’ we all live in.  Times have changed and CAP has adjusted accordingly to continue to serve our clients and provide the best service possible,” comments Brittany Jacobs.

 What has CAP done to overcome labor, material, and technology hurdles?             

In 2022, CAP continues to serve its clients and provide the best service possible.  Here are a few of the many challenges since COVID first appeared and how we responded:

  • Many property owners and operators have experienced an exodus of available contractors. CAP was not immune, seeing contractors shrink their coverage area due to a lack of manpower, illness, and even retirements. By means of an example, regional plumbing companies who had 4-5 licensed plumbers on staff pre-COVID, all of the sudden had 1-2 licensed plumbers available in 2021-22 as staff members were concerned for their health or chose not to return because they received more money from unemployment. Fortunately, CAP was able to maintain coverage, primarily through the deep network it developed over the past decade coupled with a stellar reputation for consistent payment, honesty, and technological efficiency. The overwhelming majority of independent contractors in CAP’s network are still in business as they regrouped, rehired people, and pushed forward.
  • Internally, CAP has brought on more vendor management staff to help locate additional coverage and expand its independent vendor base. As work volume increases from our clients, CAP’s independent contractor pool is constantly broadening.
  • Another challenge across all supply chains has been the rise in fuel, material, and labor costs; CAP has maintained an open line of communication with its clients notifying these business partners where a cost increase may be needed to handle a project or to travel to a more distant area.  As always, communication is a key factor for CAP in providing its clients with updates. In the early months of COVID when in-person meetings were a challenge, a CAP customer commented as follows in a situation where a contractor had to provide access for a property showing, “I wanted to thank you for always coming through for us. Today was no exception and appreciate the team approach that you always employ to solve problems and get the job done.”

 

What has separated CAP from the competition during COVID and beyond?

“Speaking personally from my own experience in the industry and from conversations that I’ve had with clients and vendors; the biggest things that set CAP apart from other facilities maintenance companies (during COVID and outside of COVID times) are communication and honesty,” states Ms. Jacobs.

“More times than I can count, clients praise the level of communication we have when providing them updates during the life of a service, even if they aren’t favorable updates.” The culture that Marc Insul, President and COO of CAP, instills has been the backbone of our company. CAP makes a point to express the use of NTE (Not To Exceed) amounts to its clients to get services done in one site visit.  With independent contractors, CAP is honest and clear when it comes to payment terms. One of the ways we have maintained status as the nation’s commercial service provider status is by doing everything possible to ensure there is never a skip in the beat when it comes to remitting payment for completed services.   A Ft. Worth based contractor commented, “please let your people know that y’all are the best in the industry. We work with over 20 management companies and there are at least another 20 more that we will not work with you guys are the absolute best. I want to give you those kudos so that y’all feel a little more pumped, it’s hard times right now.”

  

CAP’s predictions for 2023

Fortunately, it seems as though CAP employees, clients, and vendors alike have been moving forward, rebuilding, and continuing to get comfortable in the ‘new normal’. What we are hearing when speaking with our network of independent contractors and clients is that most people are eager to keep moving forward and collaborate to get things taken care of in the best possible way.   Collectively, our network of independent contractors is committed to constantly improving their turn times and increasing their staff to handle increased service opportunities sent their way.  While early 2023 may see a slowdown as clients/vendors come off their holiday schedules and increased illness from a potential winter-related COVID spike, as we emerge from the holiday months, the service count should pick up, and vendors would have had time to rehire more staff, allowing CAP to handle the surge.

“A few contractors I spoke with have committed to a better time in 2023. More work is coming through, from CAP and other resources and people are rebuilding,” says Maureen Fitisemanu. “The contractors that I speak with have told me (that) receiving services from CAP has made them stay on with what they do as they do not have that level of cooperation with other (service) companies they work with.  Comments such as these make me proud of CAP and I feel it is the empathy, honesty, experienced people, and support these contractors get when they receive assignments from CAP that makes all the difference.”

Do you have a repair or maintenance project to discuss? Contact: inquiries@commercialpreservation.com or (801) 461-8242.

 

As 2022 kicks off, store closures are down 65%: Coresight

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Reprinted from RetailDive.com

Dive Brief:

  • By the fourth week of January, announced store closures across the retail industry — at 742 total — were down 65% compared to the same time last year, according to the latest counts by Coresight Research. CVS accounts for 300 of those closures.
  • Store openings, meanwhile, stood at 1,910, a 3% increase from last year. Coresight’s tallies for the full year 2021 showed that openings (5,048) outpaced closures (4,975) in a year marked by strong consumer demand and few retail bankruptcies.
  • So far this year, Dollar General has more planned store openings (1,102) than every other retailer combined, according to Coresight data.

To read the entire article click here

How communities can use funds from the American Rescue Plan Act for Vacant or Abandoned Properties

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How communities can use funds from the American Rescue Plan Act for Vacant or Abandoned Properties

The American Rescue Plan Act provides $350 billion in emergency funding for state, local, territorial, and tribal governments to respond to the Covid-19 public health emergency. This act also established the Coronavirus State and Local Fiscal Recovery Funds (SLFRF) to help local governments respond to the economic effects of the virus and build a stronger, more equitable economy during recovery. The SLFRF monies are available to state, local and tribal governments to replace the revenue lost due to the crisis.

Abandoned or vacant properties dramatically impact neighborhoods’ economic and public health. Research indicates that these properties pose an environmental hazard and can be a barrier to economic recovery.

As an authorized use of funds, intended to build stronger, safer communities; the SLFRF dollars can be utilized by communities to impact their vacant or abandoned properties. Commercial Asset Preservation recognizes that such use of funding by local or state governments may have an impact on vacant properties owned by its clients.

The ruling on this funding is effective on April 1, 2022. Read the entire ruling, specifically see page 133 of this PDF. The services allowed by this act include:

  • Rehabilitation, renovation, maintenance, or costs to secure vacant or abandoned properties to reduce their negative impact
  • Costs associated with acquiring and securing legal title of vacant or abandoned properties and other costs to position the property for current or future productive use
  • Removal and remediation of environmental contaminants or hazards from vacant or abandoned properties, when conducted in compliance with applicable environmental laws or regulations
  • Demolition or deconstruction of vacant or abandoned buildings (including residential, commercial, or industrial buildings) paired with greening or other lot improvement as part of a strategy for neighborhood revitalization
  • Greening or cleanup of vacant lots, as well as other efforts to make vacant lots safer for the surrounding community
  • Conversion of vacant or abandoned properties to affordable housing
  • Inspection fees and other administrative costs incurred to ensure compliance with applicable environmental laws and regulations for demolition, greening, or other remediation activities

Commercial Asset Preservation offers Property Maintenance, Repairs, Preservation, and Inspection Services for Operating and Vacant Commercial Real Estate throughout the United States and Canada.

Interested in learning more about the maintenance and oversight of vacant properties?

Contact Marc Insul, (801) 461-8242 or insulm@commercialpreservation.com

 

For more information visit www.commercialpreservation.com

 

Yuck, non-potable contaminated water entering your facility

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A simple and effective approach is our backflow preventer inspection

 

Benjamin Franklin famously advised fire-threatened Philadelphians in 1736 that “An ounce of prevention is worth a pound of cure.”

In 2021, we can certainly heed the same advice when it comes to preventing changes in water pressure that can cause unwanted sewage and other contaminants to enter our property.

Backflow happens when water, water, and other liquids, or gases, reverse inside the system and flows in the wrong direction. Contamination of your water system can lead to business disruption, as well as serious illness and even death.

 

CAP recommends an annual backflow inspection

 

One main cause of backflow is backsiphonage, which occurs with a change in water pressure. This is often the result of a water main break. Another common cause of backflow is backpressure. This happens when there is an increase in water pressure. If a system, such as an irrigation system becomes clogged or a pump malfunctions, an increase in water pressure can occur. Depending on your location, you may be required to have a backflow inspection performed annually.

Commercial Asset Preservation (CAP) offers a nationwide network of plumbing contractors that can quickly, efficiently, and economically provide a backflow preventer inspection. Our local experts will evaluate your plumbing system to see if backflow is occurring. If your system is using a backflow preventer, a device within your plumbing system that keeps water flowing in the proper direction, our technician will make sure it is in working order by assessing valves for leakage, gauge movement, and other critical warning signs.

CAP’s commercial general contractor network not only identifies issues of concern but also can perform emergency repairs without delay. Rest easier knowing that you have someone checking on your buildings and protecting your property.

 

Contact CAP at (801) 461-8242 or inquiries@commercialpreservation.com

Copper Prices are soaring. Great news for the economic recovery – potentially bad news for property owners.

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As the US economy continues to move forward in some semblance of recovery, the impact of rising copper prices poses a threat to commercial and industrial property owners. Dozens of stories can be found of copper theft across the United States. While some criminals may be part of a sophisticated crime ring, others may simply be looking for a quick score. And, your vacant or even occupied property is an easy target.

Stealing copper from your building’s HVAC, electrical, and plumbing systems not only renders the systems inoperable but can result in thousands of dollars of damage as well as business interruption. Fortunately, even if you cannot be at your property all the time, there are steps you can take to mitigate the risk.

  • Inspect the property regularly
  • Hire a guard service
  • Engage and work with local authorities to pay special attention to your property
  • Have the HVAC equipment moved inside the building
  • Use security fencing around your property
  • Disable roof access

One of the best ways to stay protected and maintain the condition of your property is to get professional assistance. Commercial Asset Preservation (CAP) specializes in the protection and preservation of vacant commercial buildings across the United States.

Our locally based skilled contractors provide services to ensure that properties are maintained in a way that retains value. Ready to discuss how to best protect your property? Call (800) 445-0640 or email inquiries@commercialpresevation.com

Copper Theft news:

5 Arrested In Homestead Copper Wire Theft Scheme

3 arrested in joint operation for copper theft and thefts of catalytic converters

What You Need to Know About Protecting Your 1031 Exchange Investment Properties

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There is a windfall of opportunities today that meet the criteria of a 1031 exchange. Whether you’re a commercial investor, an

attorney, or an accountant that represents clients with these types of properties, there are some critical issues to consider impacting the market.

A 1031 exchange allows investors to avoid capital gains taxes when they sell an investment property and reinvest the proceeds in a similar property or properties within a specific timeframe. Investors may use this approach when focused on smaller commercial properties like restaurants and retail.

Today, many of these types of properties are vacant either temporarily or permanently due to closures related to the COVID-19 pandemic. While 1031 exchange properties are a great way to reinvest profits without incurring capital gains taxes, that gain itself can diminish quickly if the property falls into disrepair during vacancy.

 

When opportunity meets risk

While investors have seen more availability of shuttered retail and restaurant properties, stark increases in unemployment are accompanying these closures. As of February 2021, over 10 million Americans remain unemployed1, according to the Bureau of Labor Statistics.

Unemployment may explain why commercial property crime is on the rise. A 2020 Washington Post article shows dramatic increases in commercial property crime in major cities. Rates of burglary at commercial properties increased by 44% in Seattle, 41% in Denver, and 17.5% in New York.2 The article suggests the properties are targeted because they are vacant with fewer personnel on-site.

With our current climate driving increases in criminal behavior, well-meaning property investors are exposed to risks like theft, vandalism, copper theft, and safety issues. These risks are counted along with common weather-related issues such as freeze damage, storm damage, mold, and water intrusion, which can reduce property value.

These negative impacts can make the perfect investment property become a headache, where repairs and remediation efforts are required to address damage, safety issues or municipal regulations. Otherwise, you or your client may face citations, fines, or lawsuits.

 

How to Stay Protected

There’s no one-size-fits-all solution for commercial real estate maintenance and security. Your risk can depend on geography, crime rates in your areas, the condition of your properties, use of security systems or guard services, and other factors.

Ultimately, one of the best ways to stay protected and maintain the condition of your property is to get professional assistance. Commercial Asset Preservation (CAP) specializes in the protection and preservation of vacant commercial buildings across the United States. Our locally based skilled contractors provide services to ensure that properties are maintained in a way that retains value.

A few of the steps we take to preserve properties:

  • Assessment: An initial property condition report reveals the current status of the property and identifies areas in need of repair, preventative or ongoing maintenance, and a schedule for recurring inspections.
  • Security: Rekey locks, install a lockbox, and review personnel who accesses the site. Protective boarding of windows and doors may be beneficial in certain instances as can engaging guard services. Commercial Asset Preservation can arrange interior building access for other parties who need it.
  • Protection: Winterization, seasonal landscaping or snow plowing, preventative maintenance, and addressing any repairs needed. We also offer access to a vacant building insurance policy to further protect the investor’s interest in the property.

 

Trust the Professionals

Since our launch in 2009, CAP has become the go-to resource nationwide for inspection, maintenance, and repair services for dozens of well-known retailers, restaurateurs, landlords, REITs, financial institutions, receivers, and other parties responsible for commercial real estate.

At closed buildings, CAP can conduct recurring inspections to report on evidence of vandalism, security concerns, life safety issues, and possible municipal code violations. Even though our customers are distantly located from the vacant building, we help them feel as though they are on site at the property through detailed photo documentation and identification of issues of concern. Because CAP uses highly-skilled commercial contractors to perform inspections, emergency property repairs can be addressed without delay.

A few reasons why CAP is a smart choice:

  • Unmatched experience: Our operations team has managed the maintenance and inspection of well over one million retail, restaurant, medical, office, and industrial property services. We leverage experience and our extensive contractor resources to provide our clients with solutions that help retain property value.

 

  • Specialized focus: CAP is the only company in the United States predominately focused on vacant commercial properties. We believe our unique niche allows for a greater concentration on an aspect of the real estate world that until now many had considered to be an afterthought.

 

  • Nationwide reach: We support all kinds of commercial property operators across the country through our nationwide team of local independent contractors. That means your business has access to a professional resource to protect and preserve your property, even in emergencies, without delay. Our contractors are familiar with the neighborhoods in which these properties reside and the requirements of local officials.

 

Protect the investment you’ve made. Reach out to discuss how Commercial Asset Preservation can protect your vacant properties now and in the future.

Contact CAP (801) 461-8242, inquiries@commercialpreservation.com

 

1 Bureau of Labor Statistics. Employment Situation Summary. https://www.bls.gov/news.release/empsit.nr0.htm Last Updated: February 5, 2021. Accessed: February 25, 2021.

 

2 The Washington Post. Amid pandemic, crime dropped in many U.S. cities, but not all. https://www.washingtonpost.com/crime-law/2020/05/19/amid-pandemic-crime-dropped-many-us-cities-not-all/. Last Updated: May 19, 2020. Accessed: February 25, 2021.

 

Commercial Asset Preservation (CAP) offers in-person oversight and maintenance of closed/dark commercial properties nationwide

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Commercial Asset Preservation (CAP) specializes in closed/dark property oversight, repair, and maintenance. Only CAP has the national network, experience, and detailed closed property reports to conduct recurring visual property inspections.

Reference this recent article:Chain Store Age: Sephora, Cole Hann, TD Bank on best practices for maintaining dark stores

Our experts look for evidence of vandalism, security concerns, and life safety issues. Commercial Asset Preservation is an experienced provider offering its services throughout the United States at thousands of commercial properties for banks, retailers, REIT’s, and receivers.

 

 

CAP’s commercial general contractor network not only identifies issues of concern but also can perform emergency repairs without delay. Rest easier knowing that you have someone checking on your buildings and protecting them when they are most vulnerable.

As your portfolio of distressed and vacant properties grows, CAP’s services can reduce your overhead and personnel costs, contact CAP (216) 765-1220 or inquiries@commercialpreservation.com

 

Chain Store Age: Sephora, Cole Hann, TD Bank on best practices for maintaining dark stores

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Reprinted from Chain Store Age 

Retailers learned an important lesson since March: Temporarily shuttered stores need constant attention.

Store inspections conducted during the pandemic revealed unexpected damages, many of which caused store preservation work orders to surge. As a result, retailers are rethinking best practices when it comes to inspecting and managing stores during extended closures.

Retailers didn’t miss a beat when it came to proactively cleaning and disinfecting stores before re-opening for customers. However, repairing unexpected damages caused by faulty plumbing, loss of electricity, and other factors gave some companies a run for their money.

“We did a decent job envisioning what maintenance would be needed before reopening but some issues were unexpected,” Tony DiSpirito, director of store preservation at Sephora, told Chain Store Age. 

“We had minor leaks that stained or partially collapsed a ceiling, or caused a floor to buckle, for example,” he said. “However, these [issues] resulted in a significant uptick in work order volume for our team, and simultaneously handling different projects across all of our stores was tough.”

Looking back, DiSpirito would have conducted proactive assessments to stay abreast of potential repairs.

“If I could do things differently, I would have sent out preventive maintenance teams regularly to address these issues while stores were temporarily closed,” he said. (Want to hear more lessons these retailers learned during the pandemic? Click here to register for Chain Store Age’s X/SPECS conference, Nov. 17-18.)

TECHNOLOGY

Savvy retailers agree that security camera and closed circuit television (CCTV) systems provide benefits well beyond loss prevention.   TD Bank for example, used its fleet of security cameras to remotely check on internal maintenance and security needs at physical locations throughout the pandemic.

“Technology is our friend,” according to Aaron Ancello, VP, regional facilities manager lead, TD Bank. “In addition to successfully enabling us to keep an eye on locations where [maintenance teams] don’t have a physical presence, we also use [the system] to monitor and adjust location temperatures and lighting needs.”

Cole Haan typically uses its CCTV system across all stores to monitor the cash wrap and high-ticket items. Looking ahead, Eric Korth, Cole Haan’s retail facilities manager, has bigger plans for the technology.

“If we used the cameras to focus on store-wide conditions — not just loss of product — during the pandemic, we could’ve better assessed potential damages, especially across stores that were vandalized,” he explained. “By expanding and recording store activity, we could share specific details with our vendors assessing and making repairs. Capturing more first-time fixes will also help cut our repair and maintenance expenses.”

Many companies now mandate inspections of physical locations during extended closures. However, typically only store personnel have a key, “which limits the ability have a store inspected by a third party,” TD Bank’s Ancello explained.

By adopting a national key program, retailers’ high-level operations and real estate associates are entrusted with a “master key” to specific locations. “In the event of extended closures, natural disasters or other business disturbances, these associates can provide this key to vendors or employees who can access the location, perform inspections and address circumstances,” he added.

Retailers can complement master key programs with an electronic access control (EAC) system that requires an additional credential — such as a card, fob, or fingerprint— to open a door. Besides restricting access to unidentified users, the system also records every door entry, creating an audit trail of all users.

Commercial Asset Preservation (CAP) offers in-person oversight and maintenance of closed/dark commercial properties nationwide.

 

 

** Client Bulletin ** Attention: Removal of rubber spline from glass doors and windows by vandals

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** Client Bulletin **

Removal of rubber spline from glass doors and windows by vandalsLately, we have been seeing several instances of commercial and industrial building break-ins and attempted break-in’s resulting from the removal of the rubber spline around exterior glass windows or doors. Vandals can gain access to the building through this action. Glass is being removed from the frame and entry is being made into the structure. From a distance, the site still looks secure.

What can you do right now?

          • Where permitted, board windows and doors in known areas of vandalism and homelessness
          • Add Hollow Metal Glazing Bead Stops with Tek screws to windows
          • Increase the frequency of building perimeter checks
          • Utilize your outside security lighting
          • Consider fencing the grounds
          • Confirm your building alarms are operational and covering the areas of concern
          • Retain guard services to monitor your property

Commercial Asset Preservation can help secure your buildings and provide perimeter checks. Call (800) 445-0640 or contact inquiries@commercialpreservation.com today to reduce your risk.

CAP hires Samuel Cerminaro, Jr. as National Sales Executive

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For Immediate Release
 
 
CAP hires Samuel Cerminaro, Jr. as National Sales Executive
 
CAP continues to expand as the nations’ premier property maintenance organization
 
 
Salt Lake City, UT, June 16, 2020 — Commercial Asset Preservation, LLC (“CAP”), a nationwide provider of maintenance, repair and inspection services for operating and vacant retail, restaurant, medical, office, and industrial real estate, headquartered in Salt Lake City, Utah, announced today that Samuel Cerminaro, Jr. has joined the firm as a National Sales Executive.
 
Mr. Cerminaro was recently the National Accounts Manager at CTS Flooring of Limerick, PA, where he was responsible for business development and account management. He also was the Founder and CEO of Wolfinger Cerminaro Communications/The Bank Ad Agency.
 
“Sam brings many years of experience in the facility maintenance industry,” comments Marc Insul, President, and COO for Commercial Asset Preservation. “His experience, analytical approach, and creative ability to solve problems will greatly benefit our customers.”
Mr. Cerminaro, Jr. received a Bachelor of Science in Accounting from Lehigh University and a Masters of Business Administration from Drexel University.
To reach Sam directly, email samc@commercialpreservation.com or call 610-453-5783. (Photo attached)
 
About CAP
Commercial Asset Preservation, LLC (“CAP”) established in 2009, is the premier U.S. and Canadian provider of on-demand repair, recurring and preventative maintenance, and inspection services for occupied and vacant retail, restaurant, medical, office, and industrial real estate. CAP’s locally-based nationwide network of maintenance professionals ensures that emergency, routine, and specialized work is completed with proper documentation and reporting. CAP is the one-stop maintenance/repair needs solution.  For more information visit www.commercialpreservation.com. Or call (800) 445-0640.
 
 
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