As the Owner’s Representative, Norton+Loft prides itself in its ability to oversee the progress of the project and ensure that the Owner’s interests are met. Owner Representation services include:
Evaluating the Development Property and proposed area of office, retail, and residential space, as permitted for the site, and estimate the needs for the established duration at the proposed project area. Identify and evaluate the opportunity costs of the project as a development package for resale compared to the occupancy costs of developing and leasing the property and develop a methodology to determine whether the Ownership should build or lease to meet its needs, and maximize profits. Provide recommendations and an implementation plan for the Ownership to meet its projected needs and quantify the costs of the recommendations as compared to the alternatives.
Develop performance benchmarks for the real property service providers and the real property within the control of the Ownership based on industry best practices. Prepare an implementation plan to prioritize and achieve these benchmarks that includes a gap analysis based on current practices in relationship to the industry.
Perform an opportunity assessment of the significant real property assets as defined by our agreed upon model and conduct an operational assessment of the real estate business processes for disposition. This objective shall include: