Property Condition Assessment for Catalyst Business Park

Glenfield Capital retained Walker to observe and document the exposed and readily visible and accessible material and building system deficiencies that were considered significant to the property; and evaluate existing conditions that could considerably impact the facility’s ongoing operation during the evaluation period.

The property consists of two one-story office buildings constructed in 2009, containing a reported total of 81,462 square feet of gross area. The buildings are constructed on an approximately 32.24-acre parcel of land and are occupied by multiple tenants for office purposes.

Walker performed a property condition assessment to evaluate existing conditions. The team identified a potential safety hazard related to concrete pavers at the buildings’ west elevation. The approximate 1.5-inch spacing between the pavers provides sheet flow toward adjacent landscaped areas; however, the current configuration is a trip hazard. For this, the Client intended to provide crushed stone between the pavers to provide an even walking surface and adequate drainage. Identified site-related accessible deficiencies that included repair recommendations to provide a van-sized accessible parking space and replacement of non-compliant curb ramps.

Walker provided recommended repairs, capital expenditures forecast, and suggested upgrades. The recommended repairs extend the service life of select site, building exterior, roof, and mechanical system components.