01. Class A Office Building - Newark, NJ
Working with the Anchor Tenant, Removing Longtime Incumbent, Finding Savings
Savings: 20.4% or $414,000
Value Created: $5,900,000*
*Based on a 7% Market Cap Rate
The Story: The Owner and Manager had been longtime operators of the building. A sense of complacency had set in with the day-to-day.
With a fresh eyes approach, a rebid of the contract was undertaken and with we were able to find cost savings without sacrificing a high level of required service, all with Anchor Tenants support.