Journal of Property Management

Magazine serving real estate managers.

Articles from Vol. 62, No. 5, September/October

A Luxury Conversion
Sam Roti has his work cut out for him. As presidenc of Chicago-based Markwell Properties Development Inc., he is converting an Art Deco landmark office building into 14 luxury condominium units. "We have to remove the barriers of peoples perceptions...
A New View: Managing from the Owner's Perspective
by David W. Popp, CPM, CCIM, RPA In an increasingly competitive property management environment characterized by shrinking margins and expanding workloads, it is critical that managers understand and respond to the changing needs of today's owners of...
A Stated Location
Faced with too much retail and not enough office space in the Tallahassee market, Mark Centers Trust of Kingston, Penn., undertook the challenge of converting most of a fully enclosed mall into office space for several agencies of the Florida state government....
A Texas Sized Bargain
Buy low. That strategy was adopted by Randy Alexander when purchasing an 18-story turn-of-the-century abandoned utility company building in the heart of Fort Worth's financial district. As it turned out, Alexander paid nothing for the 150,000-square-foot...
Becoming Your Own Mentor
Not too many years ago, it was quite common for a manager to spend an entire career with one company-showing promise, working hard, and gradually moving through the ranks to a position of authority. Even a decade ago, many of us remember the experience...
Big Box to Tele-Service Center
While every adaptive reuse project requires creativity, not every innovative idea comes from the private sector. In Newport News, Va., Paul E Miller, director of planning and development for the City of Newport News and secretary to the city's industrial...
Boardrooms to Bedrooms
Once an office building, always an office building? Apparently not. Buildings that have outlived their usefulness as offices are being successfully converted into condominiums and apartments from coast to coast. Old structures that once housed workers...
Change from the Inside Out
Although power centers have already become candidates for reuse themselves in some cities, power boxes are eager for infill locations near successful regions. By "demalling" an aging center into exterior facing boxes, Compass Retail (now ERE Yarmouth)...
Estimating Retirement Savings Needs
Financial advisors frequently tell individuals to plan on between 70 percent to 80 percent of their annual pre-retirement income during retirement. These estimates are in line with the findings of the American Society of Pension Actuaries shown in Figure...
FASIT: The New Financing Tool
The Small Business Job Protection Act of 1996 included, among other things, the establishment of the Financial Asset Securitization Investment Trust (FASIT), a new means of securitizing assets that is similar in intent but goes beyond the Real Estate...
GAO Suggests Increased LIHC Monitoring
Owners and managers of low-income housing tax credit (LIHC) properties should be prepared for an increase in the frequency of site inspections and the number of low-income units audited by state agencies if the IRS acts on the recommendations in the...
Getting a Handle on Faucet Selection
Any property manager knows that selecting plumbing fixtures to upgrade a rental property requires a delicate balancing act. On one hand, you need to provide residents with stylish looks and durable funcitonality. On the other hand, and possibly more...
Image Is Everything
While faucet selection needs to meet a property manager's financial objectives, it also must provide value-added incentives to the resident or potential resident. It is the little extras that can get your building noticed. Upgrading faucers is one of...
It Did Take a Village
Like many other older retail centers, Cameron Village in Raleigh, N.C., once dominated the market but by the 1980s had lost ground to larger, newer regional malls. Originally developed by York Properties, AMO, in 1949 and still managed by the firm, the...
Mills to Desks, Gurneys to Beds
Eddie Bass descended into the bowels of the old textile mill. He stood within the basement, below six-inch-thick maple floorboards. Silent looms, baskets, and other remnants from a century-old textile operation lay strewn about the half-lit room. Beyond...
Retooling Corporate Assets: A Good Call for BellSouth
Here's one that perhaps you haven't heard. It may sound like the facilities management equivalent of an urban legend, but according to the source, it is completely true. A well-known bank with 600 branches had lost track of 30 million square feet of...
Software 97
One of the most critical decisions facing real estate organizations is finding the best way to use technology in support of real estate management. At the core of almost all information systems for property managers is the financial accounting and property...
Squeezing Revenue from Office Buildings
Here's your problem: You're the manager of an office tower located in a densely populated downtown area. The revenue from your upper-floor rentals is good, but your second- and third-floor space is not generating the kind of income you want. You can't...
Stop and "Paws" to Think about Service Animals
When the Fair Housing Amendments Act went into effect in March of 1989, one of the significant changes in civil rights law was the addition of those people with handicaps or disabilities as a protected class in housing. This provision has had the most...
Tax Relief-At Last
TAX RELIEF-AT LAST A historic tax cut package was signed into law on August 6, 1997. The good news is that unlike the 1986 Act, this new law will certainly help the commercial real estate industry. The biggest single bonus for the real estate industry...
The Mall as Educator
If the mall has replaced the village, why shouldn't it become the center for education as well? When Challenger Schools of Salt Lake City was looking for a place to expand its 14-school locations in San Jose, Calif., a vacant Marshall's store offered...
Too Old to Be a Mall Any More?
Experts from coast to coast are predicting poor retail property performance, lower yields, and possible store closures. In the face of these dire warnings, retailers continue to expand and create newer, still bigger formats in their drive for capital...
Uncovering the Real Market: How to Conduct Your Own Marketing Audit
Remember that ad campaign that Rolling Stone ran when it realized that the magazine would probably go under unless it started getting some national, heavy-hitting advertisers? Rolling Stone needed to get the word out to companies like Nike, BMW, and...