Office Building Property Condition Assessment

Espirito Santo Plaza

Espirito Santo Plaza

The Project

Earlier this year Commercial Building Consultants was honored to perform a Property Condition Assessment of the award-winning development, Espirito Santo Plaza in South Florida. The “eye-catching” glass tower is located at 1395 Brickell Avenue.

Situated in the heart of Miami’s financial district, the mixed-use high rise features a concave, sloping arch, symbolizing Miami’s “gateway to Latin America.” The stunning glass skyscraper is home to national law firms, the Conrad Hilton Hotel, Brickell Bank, and Wells Fargo. The glass tower includes two tennis courts, swimming pool, health and fitness center, gardens, and a sundeck. Espirito Santo Plaza is a popular downtown destination with nearly a thousand parking spaces in the detached 13-story parking garage.

Summary

Due diligence spurred by the development’s recent acquisition gave Commercial Building Consultants the opportunity to inspect the high rise and its parking facility. Early in May, Greg Trotter, President of Commercial Building Consultants assessed all of the accessible square footage in the office tower and investigated the detached 13-story parking garage.

His discoveries included a few issues and insufficiencies requiring attention. The property was observed to be in “overall fair condition.” CBC outlined the inspection results in its Property Condition Report.  Items needing attention were photographed and documented during the site visit on May 1, 2015: corrosion to metal components and upper and lower office tower roof leaks in the office building.  There were also systems items which needed addressing.  All immediate needs were noted in the final report, along with estimates for repair and deferred maintenance items.

 

Project Highlights

Mechanical Systems

The HVAC was not cooling the elevator equipment room.

Lower Roof Deck

A history of past leakage was discovered on the lower roof deck.

Seabreeze Corrosion

Exterior bolts and washers corroded from exposure to the salt laden air.

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