How an Industrial Asset Manager Consolidated 7 Properties Across 2 Counties to 1 Vendor, 1 Phone Number and 90% Tenant Retention
Asset Manager
National Industrial Owner, South Florida Portfolio
7
Industrial Properties Managed
90%
Tenant Retention Rate
1 Day
Vendor Onboarding Time
60 Min/Qtr
AM Escalation Time
The Property
The asset manager oversees a national owner’s South Florida industrial portfolio: 7 properties across 2 counties in Boca Raton, Pompano Beach, Boynton Beach, Tamarac and West Palm Beach. 6 are active recurring service contracts and 1 is on hold. Before Green Image, several vendors serviced the portfolio with different scopes, different formats and no consolidated view of property condition.
Property Challenges
The problem with 7 properties and 7 vendors is comparison. The asset manager needs to see which assets are performing, which are sliding and which need investment. When every property reports condition in a different format, that comparison is slow and happens in someone’s head.
Then there is escalation. When a tenant has a grounds issue, the asset manager fields it, finds the right vendor, routes it, follows up and reports back. Multiply that by 7 properties.
Why Green Image?
The owner consolidated grounds maintenance for all 7 properties under Green Image, with a cross property response protocol so any tenant escalation at any site reaches Green Image as a single thread.
The benefits showed up fast: 1 vendor, 1 phone number and 1 Visit Report format across all 7 properties. A new property joins the program in 1 day, and the asset manager spends roughly 1 hour per quarter on grounds escalations across the whole portfolio.
Tenant retention across the portfolio is running at 90%.
Results
7 industrial properties across 2 counties now run through 1 vendor relationship. Tenant retention: 90%. Time spent on grounds escalations: roughly 60 minutes per quarter.
The asset manager can now compare property condition across all 7 assets in a single read of the unified Visit Report format, instead of translating 7 different vendor reports.