Class A Office Property Development
Nova was engaged to perform an Expanded Property Condition Assessment (EPCA) for a Class A office property development that included multiple towers and a total net rentable area of 800,000 square feet.
Service
Expanded Equity-Level Property Condition Assessment
Sector
Office
Location
United States
Summary
Nova’s Equity Markets Group was engaged to perform an Expanded Property Condition Assessment (EPCA) for a Class A office property development that included multiple office towers constructed during the 1970s and provided a total net rentable area of approximately 800,000 square feet. A three-level parking garage and plaza structure were included in the property assessment.
Highlights
Nova’s assessment team was assembled to comply with the client’s assessment scope and included licensed structural and mechanical engineers, a registered roofing observer, a registered exterior wall consultant, and a vertical transportation specialist.
The expanded assessment included several scopes, including a detailed examination of the building’s exterior elevations; a roof area assessment; a Probable Maximum Loss (PML) seismic assessment; a visual survey of both the inside and outside of the mechanical equipment and operational systems, including maintenance programs; and an assessment of elevator equipment.
The Property Condition Report included cost projections for immediate repair, ADA improvements, and a 10-year capital and maintenance projection for the subject property.
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