How Gabriel K. Consolidated Seven Industrial Properties Across Two Counties to One Vendor, One Phone Number, and 90% Tenant Retention
Gabriel K.
Asset Manager, Faropoint (South Florida Industrial Portfolio)
7
Industrial Properties Managed
90%
Tenant Retention Rate
1 Day
Vendor Onboarding Time
60 Min/Qtr
AM Escalation Time
The Property
Gabriel K. manages Faropoint’s South Florida industrial portfolio — seven properties spread across two counties and five cities: Boca Raton (×2), Pompano Beach (×2), Boynton Beach, Tamarac, and West Palm Beach. Six are active recurring service contracts; one is in strategic hiatus. Before Green Image, the portfolio was serviced by multiple vendors with different scopes, different formats, and no consolidated view of property condition.
Property Challenges
The structural problem with seven properties and seven vendors is comparison. Gabriel’s job is to look across the portfolio and see which assets are performing, which are sliding, and which need investment. When every property reports condition in a different format, that comparison happens in his head — and it happens slowly.
Industry research on industrial tenant retention shows the cost of finding a new tenant runs 3 to 4 times the cost of renewing an existing one (IREM/NAIOP). For a portfolio asset manager, retention is the only metric that matters. Every property in the portfolio either contributes to renewal or contributes to vacancy.
Beyond comparison, the daily operational reality of a multi-vendor portfolio is escalation absorption. When a tenant at one property has an issue, the asset manager fields it. When that issue is grounds-related, the asset manager has to identify the right vendor, route the issue, follow up, and report back to the tenant. Multiply by seven properties.
“I oversee seven industrial properties spread from Tamarac to West Palm Beach. With most vendors, that means seven phone numbers, seven invoice formats, and seven Visit Reports I have to translate in my head.
Why Green Image?
Gabriel consolidated grounds maintenance for all seven properties under Green Image as a single vendor relationship. Sam Manchik anchored the onboarding. Rick set up the cross-property response protocol so that any tenant escalation at any of the seven properties surfaces to Green Image as a single thread, not seven separate threads.
The operational benefits surfaced fast. One vendor, one phone number, one Visit Report format across all seven properties. Vendor onboarding per new property in the portfolio: one day, not the 14 to 30 day industry norm. AM hours per month on grounds escalations across the portfolio: roughly one hour per quarter, against the 20+ hours per month that seven separate vendors would produce.
The tenant retention metric is the one Faropoint’s investment committee cares about. Industrial portfolio benchmarks run 75 to 85% retention. Gabriel’s portfolio under Green Image is running 90% — at the upper end of the best-in-class range.
Results
Gabriel manages seven industrial properties across two counties through a single vendor relationship. Six are in active recurring service; one is in strategic hiatus by design. Tenant retention across the portfolio: 90%. Asset manager hours per month spent on grounds escalations: roughly 60 minutes per quarter.
The consolidation produced a structural advantage: Gabriel can compare property condition across all seven assets in a single read of Green Image’s unified Visit Report format. Before consolidation, that comparison required reading seven different vendor reports in seven different formats.
“With Green Image, I get one phone number, one format, one standard across the portfolio. I can compare conditions across all seven properties in five minutes. That alone saves me three hours a week.