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

 

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

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

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

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

** 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

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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CORONAVIRUS: SAFETY MEASURES FOR BUSINESSES FORCED TO TEMPORARILY CLOSE THEIR PREMISES

Originally published by Allianz Risk Consulting

INTRODUCTION

As more businesses are faced with shutting down their operations temporarily due to the recent coronavirus outbreak, we have developed the following collection of possible loss prevention measures which can serve as a guide to help you individually plan for a temporary shutdown.

 

All of the recommendations are technical advisory in nature from a risk management perspective and may not apply to your specific operations. Please review recommendations carefully and determine how they can best apply to your specific needs prior to implementation. Any queries relating to insurance cover should be made with your local contact in underwriting and/or broker.

 

We remain available for your loss prevention needs. Please contact your local ARC representative if you have any questions or want to discuss any specific issues.

LOSS PREVENTION MEASURES

The measures listed below can help to prevent or mitigate the impact of damages occurring during a shutdown. However, this is not a comprehensive list and must be checked by the business against its actual requirements and circumstances and planned individually:

 

COMBUSTIBLES

  • Reduce the quantities of combustible materials located inside the buildings as much as possible. Combustible materials may include raw and finished goods, packaging, pallets, waste, dust, lint, oil, flammable/ combustible liquids,
  • Ensure safe separation distances (1.5 m or 5 ft minimum) are maintained between all electrical equipment and combustible
  • When prudent, ensure all technical rooms (i.e. mechanical, electrical, etc.) are free of combustible materials.
  • Verify all external combustible storage is located a safe distance away from the buildings. This distance varies depending on the combustibility of the storage and the building construction; however, provide at least  15  m (50 ft) separation if

 

COMBUSTIBLE AND FLAMMABLE LIQUIDS

  • Place all combustible and flammable liquids in appropriate storage areas (i.e. cutoff rooms, safety cabinets, etc.). When prudent close or seal all storage containers.
  • Remove all waste rags for safe disposal off-site.
  • Ensure essential ventilation systems continue to operate, if required, for removal of flammable vapors.

SERVICES

  • Shut down all hazardous process equipment and utilities, where possible and operationally appropriate, including nonessential flammable liquid and gas
  • Check whether you can isolate services at the mains and drain all water systems down, except water for fire sprinklers, fire pumps, etc., which should always remain operational.
  • Maintain temperatures at or above 5°C or 40°F for any areas with water-filled piping, such as fire sprinklers, fire pumps, process equipment, etc., unless otherwise required for operational
  • Check whether electricity can be shut down for the premises, except where needed for fire alarms, fire protection systems, security systems,
  • Park all powered industrial vehicles in a fire segregated room or in an area free of combustible

BUILDING SECURITY

  • Fit quality security mortise deadlocks on all entry/exit doors, taking into account company
  • Secure all windows with any applicable
  • Where possible, and considering escape routes, lock entry posts to prevent unauthorized caravans/ vehicles from
  • Isolate electric roller shutters if
  • Maintain any security systems. The prevention of false alarms (such as from wildlife, temperature and humidity, etc.) should be achieved by removing the cause and not by turning off the systems or isolating affected
  • Check whether you can shut down all nonessential electrical lighting if possible. Keep only the minimum level of lighting where appropriate for inspection, security patrols and access
  • Ensure all building access keys are accounted for by use of a key logbook. Change locks if they are
  • Record and list all visitors and contractors. Ensure building entry and lockdown procedures are available and adhered
  • Immediately repair any breach in building or perimeter security.
  • Make all efforts to arrange for a manned 24/7 guarding presence at the site or overnight patrols by an approved guarding firm or plant representatives. Any patrols should be at random intervals and times to ensure any pattern is not

PREMISES INSPECTIONS

  • Visit the building(s) periodically (at least weekly is recommended) and maintain detailed records of all observations. Correct all noted deficiencies promptly.
  • For health and safety reasons, if possible no person should be allowed to enter the building(s) unaccompanied or without the use of an efficient communications method. Always notify a colleague that the building is being entered and of the expected duration of the
  • Verify the following as part of the inspections:
    • All exterior building openings, such as doors and windows, are properly secured to prevent unauthorized
    • All electronic monitoring systems (i.e. fire alarms, fire pumps, security systems, etc.) appear to be in good working condition (i.e. power on, no alarms, ).
    • All fire sprinkler systems, including water supplies such as fire pumps and water tanks, appear to be in good operating
    • No signs of unauthorized entry, vandalism or
    • Proper maintenance of building and
  • Remove evidence of vandalism/graffiti and block any broken windows/entry points immediately when they are

MAINTENANCE

  • Maintain the building in a good state of repair.
  • Make sure the building is watertight by suitable repairs (i.e. roofs, guttering, etc.)

FIRE

  • Make all efforts to inspect, test and maintain all fire protection and detection systems to remain operational, including the following:
    • Fire alarm systems, including automatic fire detection.
    • Fire sprinkler systems, including monthly recorded inspections of sprinkler control valves to ensure they remain locked in the open
    • Fire pumps, including weekly or monthly testing to verify proper operation; see fire pump inspection checklist
    • Fire protection water supplies, including water tanks.
    • Fire extinguishing systems.
    • Portable fire extinguishers.
    • Fire doors.

To continue reading and download the fire inspection checklist, visit https://www.agcs.allianz.com/content/dam/onemarketing/agcs/agcs/pdfs-risk-advisory/ARC-Coronavirus-Shutdown-Of-Facilities-Loss-Prevention-Measures.pdf 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Business owners concerned about ‘perfect storm’ for break-ins during COVID-19 crisis

The article below is reprinted from CTV News regarding Toronto, Canada based non-essential business properties. While this is a Canadian article, we foresee break-ins being an issue in United States-based non-essential businesses as well. Commercial Asset Preservation is available and able to repair and secure properties that have sustained damage. We also can provide oversight for dark or closed properties. Contact us to discuss your property needs.

Business owners concerned about ‘perfect storm’ for break-ins during COVID-19 crisis

TORONTO — Non-essential businesses closed due to the COVID-19 pandemic are being targeted in a series of break-and-enters in Toronto.

The Federal, a restaurant near Dundas St. W. And Dufferin St., had its front door smashed in early Monday morning. The owner says the thief broke in and stole a laptop and cash, and estimates the incident will set him back about $6,000 during an already uncertain time.

“There’s no guarantee that we’re going to be able to make it through this,” Zach Slootsky, the owner of The Federal, told CTV News Toronto. He fears the restaurant, which was opened eight years ago, will not be able to survive much longer.

“We have a three-month plan, for now, we had a three-month plan before the break-in and that sets us back maybe another month,” he said.

“While we’re waiting here in limbo, we’re exposed and we just have this criminal liability that criminals are exploiting now.”

Fashion house Horse Atelier, near Queen St. W. And Bathurst Ave. was targeted last week. Co-founder Heidi Sopinka said the burglar deactivated their alarm system and stole about $3,000 worth of clothing. They also ransacked the store, destroying clothing and damaging the property.

“As you can see it’s a perfect storm,” Sopinka said. “All the stores are closed and empty and everyone’s at home. And the prison system is at capacity, and the judicial system is shut down.”

She worries as businesses sit vacant during the mandated closure of non-essential services they are an easy target for criminals. Horses Atelier has now added security cameras to act as a deterrent for future break-ins.

Other businesses have been boarded up as a preventative measure, and some restaurants have posted signs indicating there is no cash or alcohol kept on the premises.

Toronto police say they have seen the number of commercial and residential break and enters “fluctuate” over the past few weeks, but don’t have hard data to share.

“We expect if we drill down into those numbers we would see an increase in commercial break and enters and a decrease in residential break and enters,” Toronto police spokesperson Meaghan Gray said. “We are watching that closely.”

break in

Gray said police have introduced targeted patrols in areas that may be more susceptible to crime.

“That’s being led at the division using intelligence led data to determine any possible hotspots to make sure that as police officers do their regular patrols day to day, that they’re visiting those areas,” Gray said.

Independent business owners, who have been seeing little to no income for weeks, say break-ins are a devastating blow during desperate times.

“If we’re exploiting each other’s weaknesses right now when we’re all weak, we’re not going to make it through this,” Slootsky said.

Business owners can refer to the Crime Prevention Through Environmental Design (CPTED) for advice on how to protect their business property, and be a less appealing target.

Commercial Asset Preservation COVID-19 Response

Commercial Asset Preservation (CAP) offers in-person oversight of your temporarily closed properties nationwide

covid-19-commercial-asset-preservation

Commercial Asset Preservation specializes in closed/dark property oversight and maintenance. Only CAP has the national network, experience, and detailed closed property reports to conduct recurring visual exterior inspections. Our experts look for evidence of vandalism, security concerns, and life safety issues.

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.

Contact CAP (216) 765-1220, inquiries@commercialpreservation.com

Commercial Asset Preservation Seeking National Sales Executive

Commercial Asset Preservation is seeking a National Sales Executive. The National Sales Executive is responsible for creating new business opportunities for Commercial Asset Preservation (CAP). We are seeking a motivated professional to help us continue to grow our presence in the commercial real estate maintenance industry throughout North America.

Responsibilities

  • Identifies business opportunities by locating prospects and evaluating their position in the industry; researching and analyzing sales options
  • Utilizes personal or CAP’s existing relationships to facilitate introductions to potential clients
  • Sells products by establishing contact and developing relationships with prospects; recommending solutions
  • Responsible for developing strong retail, restaurant, and property management industry connections to help identify prospective clients.
  • Prospecting for potential clients, including cold calling, research, in-person meetings, and industry conference participation.
  • Submits sales materials, including customized drafted letters/emails to prospects
  • Aids CAP management in the creation of new marketing materials
  • Conducts sales presentations via the web or in-person
  • Conducts organized follow up with prospective clients
  • Attends industry tradeshows and represents CAP at the company trade booth
  • Maintains professional and technical knowledge by attending educational workshops; reviewing professional publications; establishing personal networks; benchmarking state-of-the-art practices; participating in professional societies
  • Contributes to company social and traditional media communications
  • Monitors competition by gathering current marketplace information on pricing, products, new products, delivery schedules, merchandising techniques, etc.
  • Recommends changes in products, service, and policy by evaluating results and competitive developments
  • Contributes to team effort by accomplishing related results as needed
  • Provides weekly sales report to President/COO
  • Conducts organized follow up with existing clients

Skills and Qualifications

  • Minimum 2 years of selling services to retailers, restaurants, property owners and other commercial property management personnel
  • Established relationships in selling services to retailers, restaurants, property owners and other commercial property management personnel
  • Ability to uncover client pain and sell pain-based value
  • Ability to express ideas clearly in oral and written communications
  • Ability to perform basic math skills, including managing expenses
  • Ability to navigate Microsoft Office Applications and PowerPoint
  • Ability to work independently and to be coached on a regular basis
  • Willingness to frequently travel throughout the United States
  • Bachelor’s degree preferred

CAP Offers

Many outstanding benefits including a competitive base salary with commission, PTO, paid holidays, and company contribution toward health/dental insurance.

Submit resumes to insulm@commercialpreservation.com