Property Management Pamphlet Property Management Mailer Book | Page 12

CASE STUDY - HEMET CENTER FOR MEDICAL EXCELLENCE
3583-3989 W. Stetson Avenue, Hemet, CA
The Challenge:
The Hemet Center for Medical Excellence is a 120,000 SF brand
new Class A Medical project in the City of Hemet, CA. This asset
is owned by a national multi-billion dollar REIT. The project had
previously been poorly managed. Lack of communication with
the board directors and neglect of the asset had left this new
project looking vacant and worn down. Vendor contracts had been
negotiated without the concern of the services being provided. When
the Coldwell Banker Commercial Management team took over the
management of the project, the asset had extremely high operating
costs due to the uninvolvement of previous management.
The Strategy:
Property Information
Hemet Center for Medical Excellence is a 125,000
SF Medical Office project and association. CBC-SC
manages both the properties and the association.
Coldwell Banker Commercial’s management of this asset began
by renegotiating all vendors maintenance contracts. We began
by interviewing all current vendors and reviewing the service
contracts that were in place. In addition, we put the project out
to bid with our network of professional vendors. Using our best
judgement, we either terminated current vendors or renegotiated
the existing contracts. Through frequent review of the vendor
costs and level of service, the management team continues to
reduce the operating costs and improve the appearance of the
project.
The Results:
The Coldwell Banker Commercial Property Management
team managed to reduce costs over 10%, saving the owner
over $10,000 per year. We did this by reducing lighting costs
50%, reducing fountain cost 50%, reducing porter costs 10%,
reducing landscaping costs 10% and reducing security 12%.