The Greatest Service We Offer is Our Expertise
Bank Draws . Project Oversight
Cost to Complete . Plan & Cost Review
Pre-Lease . Post-Lease
Environmental Site Assessment
Bank Draws/Contruction Oversight
Property Condition Assessments
CBC performs equity-level Property Condition Assessments for lenders and real estate investors who are stakeholders with equity in the investment. CBC’s commercial building assessors document the condition of the major building systems and opine on the probable cost to correct any immediate repair needs or life safety issues. CBC follows the ASTM E2018:15 Standard Guide for Property Condition Assessments: Baseline Property Condition Assessment Process.
Our assessors will not only provide a detailed Property Condition Report with an Immediate Needs Cost Estimation Table, but they will also consult with the Owner or investors to gain a better understanding of their future intended use for the property. Our team works iteratively with investors to ensure the report is tailored to their needs.
Construction Loan Monitoring
Bank draw inspections are performed for lenders of construction loans. The purpose of the bank draw inspection is to verify that work completed to date for the loan disbursement request is consistent with the actual work in place for the project. Our team offers experience from both the construction and development sectors of the industry which allows us to provide unique perspectives and calculate accurate figures for completion percentages for various types of projects.
CBC performs Project Oversight for ground-up, renovation, and site improvement construction. Project Oversight is performed for developers or project owners who want to closely monitor their projects. When CBC performs Project Oversight services for our clients, we review all construction documents, including pre-construction plans, budget, schedule, and scope. CBC continues to monitor the project on a bi-weekly/monthly/quarterly basis (as requested by the client) while concentrating on the quality of work being performed, manpower levels, and conformance to the original contract, schedule, and budget.
Building and Property Forensic Investigations focus on identifying and locating root causes for deficiencies with major building systems. CBC investigation methods go beyond the traditional construction defect inspection. Our team begins by interviewing clientele to get a full understanding of the extent and duration of the defect. After gaining some insights, we set forth a plan to identify the origin of the defect and recommend repair and correction methods that would be appropriate for each particular building system.
Similar to Construction Loan Monitoring, Owner’s Representation involves oversight of the construction progress in-place. Where does Owner’s Representation differ? CBC is the eyes and ears of the project for the owner. Owner’s Representation often involves pre-construction activities through project completion. Our Project Manager will be the liaison between the Owner and the contractor, subcontractors, and other stakeholders. Our PM monitors project schedule, budget, scope, quality assurance and control, compliance to safety regulations, and will encourage continuous communication between all parties.
Cost to Complete
Cost to Complete Estimating provides a complete cost analysis of partially completed or stalled construction and development projects. CBC offers a third-party perspective of the financial consequences involved with stall construction projects, i.e., deteriorated building materials, land use code changes, permit expiration, construction schedule fails, and any additional construction deficiencies discovered.
Plan and Cost Review
Plan and Cost Reviews are typically requested by developers and property owners who want to ensure their budget and construction plans match the work to be performed by qualified, licensed sub-contractors in order to complete the project as planned on a timely basis and within budget. A Plan and Cost Review determines how realistic the estimated costs to complete the project are in regard to scope, design, timeline, and material selection. Our assessors utilize the RSMeans national costing averages, relative to geography and regional factors to determine probable costs for the project.
Pre-Lease Assessments are imperative for both building owners and prospective tenants. For building owners, Pre-Lease Assessments are vital for understanding the condition in which their space was in prior to leasing out to a tenant. For prospective tenants, the space you are renting will be the home of your business, therefore it is beneficial to understand all the deficiencies with your space.
The scope of work for a Post-Lease Assessment is similar to a Pre-Lease Assessment. Although these assessments can be ordered by the exiting tenant, they are most often requested by building and property owners when a tenant’s lease has expired. Whether the tenant decides to renew their lease or not, Post-Lease Assessments provide a benchmark for the condition of the building systems as the tenant has used the space over the life of the lease agreement. A Post-Lease Assessment is most effective when performed with a previous Pre-Lease Assessment, allowing for comparison between the state of the facility prior to the lease and the conditions after its expiration. Both Pre- and Post-Lease Assessments are performed for single, double, and triple net lease clients.
Phase I Environmental Assessment
Phase I Environmental Site Assessments (ESA) are utilized to help identify any potential and/or existing environmental concerns with the property and surrounding areas. The report delineates the history of the property uses and how they have impacted the soils and groundwater beneath the property and identify any potential threats which pose environmental and human health risks. ESA’s consist of a site visit to observe the current and past conditions of the property and surrounding areas, a review of regulatory databases and historical records including aerial views, and interviews with the prospective owner, current owner, and past owners of the property. Information obtained includes geological and hydrogeological, regulatory, and historical research to better understand and evaluate the site and surrounding areas.
Capital Reserve Study
Capital Reserve Studies are performed for Home Owner’s Associations (HOA), Condo Associations, Community Development Districts (CDD), and perspective commercial real estate owners. A reserve study assists clients in better understanding the physical condition of the property, the cost of current and future repairs/replacements, and analysis of the future replacement reserves over a termed period. Reserve Studies are aimed at identifying all common area building systems, including property amenities, Clubhouses, and pavement. Reserve Studies are typically mandated by law to be in place for all HOAs and CDDs, so having an accurate, reliable Reserve Study can provide the client and homeowners with a sense of their financial future over a specified term.
Life Safety Assessment
CBC evaluates the current life safety conditions and delineates any defects, deficiencies, or code violations that are recognized or observed. For any life safety condition that could negatively affect the building or its occupants, an estimated cost to repair is provided. Life safety assessments include an evaluation of general engineering safety, such as stairs, sidewalks, trip hazards, etc.; an assessment of fire panels and FACP closets; assessment of the backflow preventers; and evaluation of a random sampling of units for smoke detector compliance, adequate fire extinguishers presence, and appropriately illuminated EXIT signage.