Category: Property Management

Five Step Guide to Industrial Real Estate Relocation

Considering a new location for your industrial space? There are many things to consider before making a decision that will have a major impact on your business, your customers, and your bottom line.  Below are five of the most important considerations to take into account when relocating your industrial space. 1.  TIMING & PLANNING Allow yourself enough time to negotiate before your current lease expires. Depending on the size of your facility, we recommend that you start the process 18 months to 1 year prior to the end of your lease or your expected move-in date. Once you have identified a new facility it will take a minimum of 6 months to negotiate and relocate. Before starting the site selection process review your corporate strategic plan and vision. Sometimes companies lose sight of their strategic plan during the site selection process. They get diverted by enticing incentives, quality of life considerations, or some other element. While these factors are important, they are secondary. Remember, no matter how attractive they may seem, they will not turn a weak site into a suitable site. Companies should be asking themselves the following questions: Where does your leadership team see the company in the next 5 to 10 years? Do you (more)

Associate Spotlight: Michael Dalton – Director of Operations, The Properties at Wright Field

Michael Dalton has been an Associate of Miller-Valentine Group since 2005.  Initially hired as a District Manager, Michael now serves as the Director of Operations for our military housing neighborhood – the Properties at Wright Field. As Director of Operations, Michael is responsible for all aspects of the operating business, including acting as the point of contact between the corporate office and government agencies that engage with Wright Patterson AFB.  Some of the duties include preparing and executing the annual budget, ensuring all reports for both internal and external customers are prepared and detailed, leading a team of 34 co-workers, providing a vision for future challenges, and ensuring the team preserves the assets of Miller-Valentine Group.  Responsibilities for the team include executing 15,000 work orders yearly, overseeing 600 move ins, providing numerous leasing tours, processing monthly rent payments, completing over 300 reports, conducting hundreds of inspections, and making thousands of decisions that pull you in multiple directions. Michael has shared some insights regarding his career – not only with Miller-Valentine Group but also on his 22 years with the United States Air Force. Q&A with Michael Dalton – 12 Year Associate with Miller-Valentine Group How did your career with the (more)

Is Your Roof a Match For the Weather?

Warmer temperatures bring thunderstorms and rain, is your roof ready?  Building owners often regret waiting until there is a problem to think about preventative maintenance on their roofs. Don’t delay.  Here are six things to consider that can save your company money and time before there is a problem. 1.  How often should you have your roof inspected? You should have your roof inspected annually and after heavy rain, wind, and hail storms.  Normal wear and tear happen over time, but severe storms can cause unexpected damage such as cuts, tears, missing shingles, and damage from roof top equipment blown over or loosened.  Hidden problems may include insulation or decking damage. 2.  What is lifecycle of most commercial roofs? The lifecycle is dependent upon how well you maintain your roof. Most low slope roofs can last for 15-30 years if they are well maintained. 3.  What are some common causes of roof deterioration? The top three are: Sunlight Standing water Misuse/Damage by others 4.  Are there preventative measures that can be taken to increase the life of a roof? The best preventative measure is to have your roof inspected regularly and complete any required maintenance.  A roof consultant will check (more)

New Homes from Historic Rehab in Ft. Wayne, IN

The Multifamily division of Miller-Valentine Group is pleased to announce approval of Renaissance Pointe, an apartment and single family housing development in Ft. Wayne, Indiana (Allen County) located at 1631 Pontiac Street and surrounding site lots. The development will involve the renovation and adaptive reuse of the historic Coca-Cola bottling building and the new construction of single family lease purchase homes in the neighborhood. This prominent building in the Renaissance Pointe neighborhood functioned as a manufacturing facility in its former life but has remained 100% vacant since that time. The building will now be converted into 31 residential units, including 1, 2, and 3-bedroom apartments.  The remaining 31 units will be single-family homes in the surrounding neighborhood. The project will also dedicate 3,735 SF of space within the adaptive building to serve a variety of commercial uses. This square footage will function as retail and/or service space, for various on-site services. For more information:  bit.ly/1Ux1HBK

New Apartment Community in Kansas

Miller-Valentine Group is proud to announce the development of their newest apartment home community, Galena Estates, located at 1910 East Village Circle, near the intersection of State Line Road & Historic Route 66. In this pet friendly community, residents will enjoy spacious two and three bedroom floor plans with amenities you would expect to find in an upscale home, at an affordable price: a fully-equipped gourmet kitchen with brand new energy-efficient appliances, private balcony or patio, exceptional closet space, central air conditioning, and a laundry room which includes a full-size washer and dryer! Galena Estates will offer several other amenities which separate them from their local competition; a clubhouse with a business center, fitness center and community room with a kitchen and dining area, where residents can enjoy the companionship of friends and family. Unlike other apartment communities, Galena Estates has a personal attention, exceptional move-in, and maintenance response commitment that are made to every resident.  The professional onsite management team and 24-hour emergency maintenance service are just a few ways that Galena Estates Associates take care of the hassles of apartment living. Brian McGeady, Partner & President of Miller-Valentine Affordable Housing Development, said that the company is excited to (more)

Property Management: Third Party vs. Self Manage

When considering the choice between hiring a third party manager and self-managing your property, the decision requires some serious thought. There are a lot of things to consider such as the time commitment, the knowledge and information your team will need to acquire, and the overall impact that self-management can have on your business as a whole. If you’re an owner or an investor searching for answers on the management of your commercial property, here are some things to consider. Managing a property generally involves everything from handling maintenance issues around the clock to paying bills, budget planning, staffing, and more. If you are an investor, it also includes collecting rent, administering leases and managing tenant relationships. Consider the number of available hours in a given day that you could devote to these tasks. Does it seem sufficient enough to keep satisfied tenants and a thriving business? Hiring an experienced third party property management company gives an owner more free time to focus on developing their core business rather than dealing with day-to-day tenant related issues and property management tasks. Another key benefit to hiring a seasoned property management team is the expertise and knowledge they possess. They will offer (more)

Miller-Valentine Weathers Half Century of Changes

Top executives of the Miller-Valentine Group say if you want to build 80 million square feet of commercial space over a half century, you need the right people doing the right things. It also helps to like what you’re doing, said Chief Executive Bill Krul, who has been with the company since 1969. “You better be in a business that you like,” Krul said. “The reason we’re in the real estate business is because we like real estate. We just like, I would say, the risks and rewards.” Like any real estate company that has weathered 50 years in a very cyclical industry, Miller-Valentine Group has an array of interests. The company is in commercial real estate development and construction, apartment construction and management, property management, site selection, consulting and more. The company was founded as a small project contractor in 1963 by partners Gerry Miller, Dan Valentine, and Jim Walsh. The three saw opportunity in a rapidly expanding nation, growing particularly via the spread of highways. The company then seized on “tilt-up” construction — a quicker form of raising buildings with concrete elements — and constructing multi-tenant buildings on a speculative basis. Office, retail and residential followed. Fifteen years (more)

Be Green & Save Green

At Miller-Valentine Group Realty Services, we understand that being “green” doesn’t always come cheap. Our property management team is constantly looking for ways to help the building owners we serve be more environmentally friendly, without hurting their bottom line. This month, we are sharing one of our tips that will not only help you to be more “green,” but also save you money! Did you know? For each electric bill paid, a percentage is set aside for customer rebates. Consumers can receive these rebates by applying to their utility provider’s rebate programs. These programs were created to reduce the demand on the electrical generation infrastructure. Utility companies have been removing electric generation equipment from the market over the last several years due to its age and the expenses necessary to meet the EPA’s requirements. Utility companies are now asking that consumers reduced energy consumption by installing energy efficient windows, lights, heating and cooling equipment, insulation, etc. These energy saving methods not only conserve energy, they help reduce the customer’s electric bill. The rebates were implemented to help customers offset the initial cost of purchasing these energy saving devices. It is generally cheaper for the utility company to pay these rebates (more)