Commercial Real Estate
National Property Portfolio
- Challenge
- A 2.5M sq ft multi-tenant portfolio faced rising operating costs and flat net operating income, with vendor contracts negotiated independently at each property.
- What VICE Found
- Fragmented vendor pricing across janitorial, HVAC and landscaping, duplicated service scopes, over-assessed property tax on several assets, and recoverable operating costs not being fully billed back to tenants.
- Strategy
- Consolidated vendor agreements to portfolio-level pricing, filed assessment appeals on the highest-variance assets, corrected recovery calculations, and sequenced energy retrofits by payback period.
- Value Identified
- $1.2M – $2.0M / yr
- Value Captured
- Operating cost reduction
