One of our client's owns an 800,000 square foot food grade warehouse and refrigeration/freezer building. For a property like this, cost control can make a difference on whether the investment is profitable or not, especially if it is a gross lease or the building has a vacancy.
     The experienced team from Ohio Realty Advisors was able to quickly focus on the large line item expenses once we took on the assignment and created huge bottom line savings to ownership.
     For real estate taxes, Ohio Realty Advisors worked with ownership and local attorneys to create a successful appeal of the taxes and reduced them by 30%. For property insurance, we utilized our national buying power of over 50 million square feet and reduced property expenses utilizing better coverages by 67%. For electricity expenses, along with our energy consultant, we reduced the expenses by $350,000 on an annual basis. In total, we reduced the annual operating expense run rate by $490,000, which added over $5,000,000 in value to the asset.