Benchmarking: make sure you measure up.
As property values in and around New York City New York City: see New York, city.
New York City
City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. continue to rise, the drive to utilize new technologies and operational creativity to decrease or cap operating costs operating costs npl → gastos mpl operacionales continues. Owners and their portfolio teams huddle at the time of an acquisition and comb through numbers to find every penny of value.
Many factors play into the ability to purchase and operate a property. Tenant roster, lease expirations and cap rate are key drivers of a deal's attractiveness. At the same time, net operating income Operating Income
The profit realized from a business' own operations.
This would not include income from things such as investments in other firms. Also referred to as operating profit or recurring profit. will always be important to valuation. The owner needs to identify the costs that can be reduced, and detailed benchmarklng makes calculating operating costs simpler. In such an intense market as New York New York, state, United States
New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , often the best solution is to focus on the long term, regardless of the hold period. Reduced operating costs and processes that focus on efficiency will assist in achieving net operating targets, regardless of the rental market.
The manager or operating partner plays a key role in identifying the exact cost based on factors such as property location, property type, and tenancy requirements. Those costs can make or break the opportunity of the acquisitions team to achieve the pricing required.
At Grubb & Ellis, our management services division collects operational data, and the size and diversity of the firm's management portfolio allows for a large representative sample. On a regional basis, a grouping of properties greater than 500,000 s/f has been studied to determine operating costs in each market and leverages multimarket experience to better manage properties of any size. This building council provides managers with the opportunity to fact check pricing and operating costs.
It is a tool frequently utilized in due diligence Research; analysis; your homework. This term has caught on in all industries, because it sounds so "wired." Who would want to do analysis or research when they can do due diligence. See wired. exercises. Clients have, at their fingertips "Fingertips" is a 1963 number-one hit single recorded live by "Little" Stevie Wonder for Motown's Tamla label. Wonder's first hit single, "Fingertips" was the first live, non-studio recording to reach number-one on the Billboard Pop Singles chart in the United States. , the ability to obtain real time competitive market data to understand what affects property pricing and values.
On a more local basis, the firm takes advantage of tens of millions of square feet in the Tri-State area There are a number of places in the United States known as tri-state areas where three states or holdings meet at one point (a tripoint), or in proximity to each other. The two most well-known are for the New York and Chicago metropolitan areas. to understand current market pricing and beadcount. Institutional, commercial office and industrial pricing are tracked so that asset managers can reference the data collected by the property management team and implement current cost models.
Benchmarking helps managers better perform their duties and increase accuracy with budgets. At the same time, it supports other business lines such as project management and brokerage in specifying long term costs for clients, and helping them understand the operational and acquisition costs of different markets and submarkets From this data they can model operating efficiencies available in the purchase of a building. This multidiscipline approach allows for a more strategic, solidified so·lid·i·fy
v. so·lid·i·fied, so·lid·i·fy·ing, so·lid·i·fies
1. To make solid, compact, or hard.
2. To make strong or united.
v.intr. approach to solving client concerns, while providing a comprehensive view of real estate solutions.
BY JOHN MCGINLEY John McGinley can refer to: