Opportunity
Real Data Management (RDM) was hired by Zurich Alternative Asset Management (ZAAM), one of the world’s largest insurance groups, to analyze the rentable square footage (RSF) of 21 office properties located in 17 cities in 9 different states. Office locations included Glendale, AZ, Pasadena, CA, and Irving, TX.
The goals of the project were as follows:
• Identify under measured properties and establish new RSFs;
• Institute a centralized management system to track occupancy and vacancy;
• Manage floor plans; and
• Implement a space and document management software solution.
Business Challenge
ZAAM is a large, geographically diverse organization that did not utilize a standard method of measurement and tracking for its real estate. This practice can lead to differences in floor plans and measurements on a per property basis which can facilitate confusion, inconsistent reporting, and loss in significant rentable income.
Solution
RDM implemented its space management solution: RDM’s field survey technicians visited each property to conduct an onsite BOMA analysis that consisted of existing floor plan reviews, a floor by floor walk through, and the use of laser measurement tools. The data and information collected from each property was used to create new CAD files and PDF Plan Books.
Results
RDM was able to grow the portfolio RSF by 3% with a maximum of 20% for an individual property. The Plan Books prepared for the properties help the property managers more effectively manage and market their assets. Furthermore, the Plan Books employ a standard method of measurement and format across the portfolio. Managers at these properties are able to easily access and update the Plan Books through RDM Docs, a web based document storage platform maintained by RDM, from any location with internet. The use of RDM’s tools can lead to an estimated 20% reduction in costs and less impact on the environment. Sarah Moore, General Manager for the portfolio, noted that "Real Data Management has allowed our portfolio's team of professionals, spread out across nine different states, to have up to date, standardized stacking plans and floor plans at the click of a button."
For additional information, contact Blake Grosch
Director of Sales & Marketing
at 212-213-8190
or email blake@rdm1.com.
