Burr & Temkin’s affiliated company, Terminal Service, Inc. (TSI), provides property management services including lease administration and property maintenance services.
Our team has an aggregate of over 100 years of diversified portfolio management experience. We offer strategic support utilizing the market data, brokerage expertise, and property management expertise of Burr & Temkin. Our customizable lease administration services include:
- Tracking and communicating critical lease information
- Managing lease documents
- Providing market overviews specific to the transportation industry
- Identifying available on and off-market properties
- Confirming market rates
- Negotiating Leases
- Implementing rent reduction programs
In addition to offering lease administrative services, TSI manages property maintenance for our clients, giving them more time to focus on core business while reducing expenses and maximizing profits. We can manage a range of transportation facility repair or remodeling projects, from a single property to a multi-state portfolio TSI offers customizable maintenance services by partnering with client vendors and employees, or working independently. Our services range from receipt and tracking of the initial maintenance call to providing cost control measures and selecting the most qualified vendors for services such as:
- Edge-of-dock leveler maintenance and replacement
- Dock or overhead door repair and replacement
- Lighting, plumbing, and HVAC maintenance and repair
- Roof and paving assessments
TSI’s real estate expertise, transportation property specialization, trusted reputation, and 35 years of industry relationships provide our clients’ strategic, efficient, and economical lease and property management solutions.
Featured Case Study
A New York investment group contacted Burr & Temkin regarding 6 transportation properties they acquired as collateral for a loan to a bankrupt auto hauler. The investors wanted to Burr & Temkin to sell these facilities. Since the investment group lacked the staff to manage the properties, they looked to Burr & Temkin’s property management affiliate, TSI, to manage the properties until they sold.
Burr & Temkin and TSI’s experience with the unique characteristics of transportation related properties provided an ideal solution for this investment group, giving them peace-of-mind knowing that their properties would be responsibly managed and eventually sold, allowing them to recoup a portion of their assets with minimal effort.
We quickly commenced marketing the properties, located in 5 states throughout various regions of the US and Canada, while TSI made site inspection visits to each property. All 6 properties–totaling 150,0000± sf and 150± acres-–were vacant and in below average condition.
TSI’s initial task was to maintain and manage these properties. We assured all taxes, utilities, and other invoices were paid on time and that the facilities were secured and maintained. We collected data, took pictures, established utility and preventative maintenance contracts, and determined critical capital projects to preserve the integrity of each property so that they could be sold for the highest possible value. Additionally, we established security and alarm systems at each property and 24-hour guard service at three locations in order to preserve the vacant facilities.
TSI created extensive budgets for each property detailing insurance coverage, real estate taxes, attorney’s fees and itemized property maintenance categories. We keep detailed and readily accessible maintenance and invoice records. Weekly client reports were provided initially, along with monthly accounting updates. TSI managed maintenance services ranging from managing paving and environmental clean ups to remodeling office areas to make the facility more marketable.
Burr & Temkin’s marketing and brokerage negotiations and TSI’s property management were a success. All the properties were maintained and secured and all but one of the properties sold.