 Crescent’s Greenway Plaza |
The game has changed. In the wake of the financial crisis, strategies that were once considered rules for success in commercial real estate no longer hold. Owners are holding buildings longer, tenants have the upper hand in leasing negotiations and to say that budgets and resources are stretched is an understatement. All of this means that property management is more important than ever. Exceptional customer service, efficient operations and excellence in building management is what will attract tenants and result in bottom line success. But how can property managers demonstrate to tenants, prospective tenants, owners and stakeholders that their buildings are market leaders?
For several companies, the answer is the BOMA 360 Performance Program, which demonstrates that their buildings meet industry best practices on every level. The program is an online self-assessment that evaluates properties in six major areas: building operations and management; life safety, security and risk management; training and education; energy; environment and sustainability; and tenant relations and community involvement. The holistic nature of the BOMA 360 Performance Program means that every aspect of building performance is assessed, with scores based on how buildings measure up to an extensive checklist of best practices.
Crescent Real Estate Equities was among the first companies to apply for the designation, representing ten out of the 24 buildings conferred with the inaugural class of BOMA 360 designations in June. The ten buildings are part of Greenway Plaza and total 4.3 million square feet of office, residential, hotel and entertainment space. Crescent’s Vice President of Property Management Robert L. Carlen, CPM, who manages the complex, saw the program as a natural extension of their management philosophy and decided to get all ten buildings designated at once.
“We give our managers autonomy,” says Carlen. “Each of our building managers has total responsibility for their buildings. This program, unlike others, looks at all aspects of a building and a building management team. A manager may have a specific expertise area, but this program really lets you see their all around strengths. That was what was appealing to me.”
Carlen also notes that BOMA 360 stands out from other industry designation programs, making it a must-have for high-performance buildings. “First and foremost, it is specific to our industry. LEED is just a piece of the whole when it comes to recognizing excellence, in my mind. BOMA 360 adds to the energy consumption piece by including all other aspects of building management - from certificates of insurance to occupancy to customer service to cleaning, security, parking and much more. It is much broader and encompasses all elements of the property.”
Learn more about the BOMA 360 Performance Program.
By Lindsay Tiffany