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February 27, 2007

Something's in the Air

Air quality in the workplace is an important issue for both real estate managers and tenants . Ailments such as sick building syndrome and other building related illnesses can hamper worker productivity and also lead to liability issues for an owner or property manager. Air pollutants such as mold spores, radon, dust, asbestos, bacteria, and emissions from office furniture "can greatly increase the risk of illness and impact the productivity of building occupants."

Proactive control and prevention are the best methods for ensuring a safe work environment. According to the Indoor Air Quality Association, a few steps can be taken to prevent these illnesses. Good housekeeping practices such as wet mopping hard surface floors, using quality vacuum cleaners, dusting, and selecting less toxic cleaning agents help greatly. It is also important to properly maintain a building's air conditioning system and change air filters. Adequate ventilation is also important since "heating and cooling systems do not mechanically bring fresh air into a building."

February 07, 2007

Retail projects slowed by construction costs

The commercial real estate industry is keeping an eye on the potential for rising interest rates and construction costs. This may slow development in the coming year in spite of a generally positive economy that "has helped developers, landlords, and investors." According to a broker for Coldwell Banker in Salem, Oregon, her area has seen an increase in construction costs by almost 45 percent in the past 18 months. As a result, some developers have reconsidered their plans to build.

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Power Tools for Commercial-Investment Practitioners, from NAR's Information Central, provides information on research studies, websites, books, news, tips, and other resources for real estate professionals specializing in commercial and investment properties.
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