A SEASONED EYE FOR ASSESSING AND ACQUIRING PROPERTIES
George Comfort & Sons capitalizes on its expertise as a vertically-integrated management and leasing company to bring an added dimension throughout the underwriting and acquisition process. While the company’s investment objectives fluidly adapt with changing markets and economic conditions, its commitment to sound judgment and long-term value remains constant.
GCS has broad criteria for acquiring properties, with a focus on both urban and suburban office space in the Northeast. Concentrated in and around New York City, the company will evaluate opportunities from Boston to Washington, D.C., as well as Southern California. We consider properties ranging from unentitled land, to existing trophy assets, to assets in need of signification repositioning.
The firm is well-equipped to acquire fee simple, leasehold, mortgage note, partnership interest, or condominium positions. Submissions should be larger than $20 million with no maximum constraint.
• Act solely as a principal
• Conduct complete due diligence and quick closing
• Structure complex financing, including work-outs
• Perform in-house property management, leasing and construction supervision
LEASING IS THE ENGINE THAT DRIVES ALL COMMERCIAL PROPERTIES
As a result of hard work and expansive experience, George Comfort & Sons’ portfolio has an impressive track record of tenant retention and high occupancy rates. Ultimately, this begins with developing and implementing an innovative marketing strategy, which is specifically targeted to the uniqueness of each asset. In its tenure, the firm has developed lasting relationships with the brokerage community and established a stellar reputation as dealmakers and quality-building managers. George Comfort & Sons has been highly successful at attracting new commercial tenants to its portfolio, enabling existing tenants to expand operations, and securing renewals with its current roster of tenants.
YOUR CORPORATION’S FULL-SERVICE REAL ESTATE ARM
The Brokerage Division of George Comfort & Sons assists select corporate clients with all of their commercial real estate needs. Our hands-on, personalized approach to every transaction sets us well apart from our competition. Whether it be searching for new offices, a disposition of excess space, or the exploration of a new market, GCS brokers are here to assist. They will define your needs, develop and analyze alternative solutions, recommend the best course of action, and work expeditiously to achieve the results you require.
OPTIMIZING VALUE THROUGH THE BEST USE OF A PROPERTY
Over the decades, the firm has achieved significant success with the strategic approach of repositioning and re-tenanting each asset to address current market demands. In all aspects of Property Management, there is a perpetual focus on reviewing and adjusting short and long-term timetables to accommodate ever-evolving market conditions, incorporate new value-enhancing technologies, and address sustainability and energy efficiency measures. By improving an asset’s operational efficiency and achieving maximum occupancy rates, ultimately the residual and operating values of each asset will increase.
COST EFFICIENCY AND AN EYE FOR VALUE UNDERLIE EVERY PROJECT
George Comfort & Sons provides essential full-scale Construction and Capital Management services to keep construction projects on schedule and in budget. By avoiding unnecessary expenditures and delays, the firm has been able to attract and maintain a quality rent roll. After major renovations are complete, proper Capital Management ensures that the installations are maintained to the utmost degree. Environmental impact and payback values on all new projects are integral throughout the decision-making process.
POWERFUL NETWORK TO ENSURE A PROPERTY’S HIGHEST PERFORMANCE
Through our affiliation with the Core Network, George Comfort & Sons provides a range of corporate services to clients around the world. Whether national or international, no matter with the size of their portfolio, clients can efficiently coordinate leasing and management of all their owned and leased facilities through one single point of contact. From acquisition to disposition, our experienced team of Asset Managers and Leasing Brokers are dedicated to ensuring that every client’s valuable asset is performing at its optimal level and achieving its best use.
FROM LEASE SIGNING TO PROBLEM RESOLUTION, GOOD TENANT RELATIONS ARE CRUCIAL
The signing of a lease is just the beginning of George Comfort & Sons’ relationship with each and every tenant. Our professional, courteous team takes great pride in providing responsive, proactive problem resolutions to every tenant across the firm’s portfolio. Our unique Tenant Loyalty Program (TLP) gives tenants direct access to management to resolve any issues. In an effort to establish lasting relationships with our tenants, GCS distributes an annual Tenant Loyalty Survey, which is a customer satisfaction assessment that helps benchmark performance on all aspects of property management. This affords valuable insight to our management personnel.
Sustainability and energy efficiency serve as vital pillars of George Comfort & Sons’ approach to how we own and manage our portfolio of commercial properties. We are constantly looking for ways to improve our performance and focus our efforts on achieving Leadership in Energy and Environmental Design (LEED) certification, conducting energy savings studies, and tracking sustainability and energy metrics in our properties.
When buildings meet the prerequisites for the U.S. Green Building Council’s LEED program, we strive to earn LEED certification at the highest feasible level. GCS has achieved LEED for Existing Buildings certification at three of our properties: 200 Madison (LEED-EB Gold), 498 7th Avenue (LEED-EB Gold), and 63 Madison Avenue (LEE-EB Silver). We are evaluating LEED certification at our other properties as well. Even for buildings not able to attain LEED certification, we’re developing plans and policies for our building managers, engineers and vendors that outline how to implement sustainability and energy efficiency measures across our portfolio.
Every quarter, GCS assesses the energy efficiency of its portfolio through the EPA’s ENERGY STAR Portfolio Manager Tool, and applies for the ENERGY STAR Label designation at eligible buildings that score in the 75th percentile and above. At present, four (4) of our buildings have earned the ENERGY STAR Label. We have conducted ASHRAE Level 2 Energy Audits and retro-commissioning studies for all NYC buildings. We’ve also developed a plan to implement the Energy Conservation Measures included in these studies, to reduce our energy consumption, monthly utility bills, and Scope 1, Scope 2 and Scope 3 Greenhouse Gas Emissions.
George Comfort & Sons is dedicated to future-proofing its assets and ensuring tenants the best possible experience in our buildings. We understand that all modern businesses need reliant connectivity to operate, and as such, we were one of the first owners in New York to adopt Wired Certification.
GCS works closely with Wired NYC for our Manhattan portfolio seeking Wired Certification. Currently, the bulk of the Manhattan properties are Wired Certified Platinum, which is the highest level of service provider choice offered, including fiber access. Best-in-class infrastructure is designed to maximize protection against service interruption. Administrative best practices are employed to streamline connectivity.