Manage & implement Real Estate Master Planning Process Manage Real Estate Assets
Traditional perception of facility as office/workspace More valued today as property to be sold or traded New organizational function-managing Real Estate as an asset Requires developing new skills while utilizing old ones Need to understand Real Estate Principles & Practices Need to see inter-relationships with Facility Management
Real Estate Planning Tools & Techniques The Real Estate Life Cycle Key Activities Tools FM Touch Points Adding FM value to Real Estate Function
Managing the Master Plan Own vs. Lease Types of leases Negotiating a lease Disposal of facilities
Corporate strategic plan Anticipated growth Anticipated compression Financial analysis Corporate Business Cycles Corporate image
Influences- External Factors Financial market/macroeconomics Real Estate market conditions Environmental regulations Governmental controls Community Relations
Managing the Real Estate Master Plan Vision Strategic in nature Holistic Components Follow strategic plan format Confidential document Key Stakeholders Internal External
Maintaining the Master Real Estate Plan Measure Real Estate performance Measure customer usage Monitor economic changes in market Awareness of deviations from plan Information gathering for recommendations
Acquisition Extended Operating Hours Management Disposition
Due Diligence Appraisal Environmental Condition Assessments Operating Cost budgets/Pro Forma Sustainability Lease vs. Purchase Time value of money Lease types Fee Simple Terms, conditions & Clauses
Assemble a team FM as owner rep Legal Broker Develop RFP Standard Levels of Service Supply/Demand of Market Landlord Incentives
Highest & Best Use Studies Optimum use of facility Calculations Space (SF, Gross, Rentable, Usable) Cost (opex) Portfolio Administration Inventory ROI Performance Analysis Reporting
In a multi-floor, multi-tenant office building, a private stairwell built between two floors occupied by one tenant is: Part of the building’s common area Part of the tenant’s rentable area Part of the tenant’s usable area Part of the floor’s common area
Usable area equals rentable area minus which of the following (Choose 3) Building Core Primary Circulation Secondary Circulation Service Areas
An attribute of a good master plan includes (choose 2) Accurate Permanent Detailed Within the framework of a corporate master plan
When calculating a floor’s rentable area, you must first subtract the area calculations for which of the following (choose 3)?
Stairwells Restrooms Elevator shafts Mechanical chases
To be legally enforceable, a contract to purchase real estate must include all of the following, except: Be in writing Include consideration Include insurance requirements Include signatures
Leasing provides which of the following advantages (choose 2) ?
Allows for minimum capital investment Allows a business to enter a market quickly Provides a hedge against inflation Conveys company pride & growth
In Real Estate, curb appeal means: Height of the curb and distance to the parking lot Initial impression a facility makes on a visitor Layout of the landscaping & shrubbery Large natural areas preserved for environmental reasons
Purchasing property provides which of the following advantages (choose 2) ?
Ensures a business the desired location No restrictions on use Conveys financial stability Good exit strategy if company downsizes