September 28, 2009—ABM Facility Services, a subsidiary of ABM Industries Incorporated, has launched a new service targeting the growing market of Commercial Real Estate Owned (CREO), vacant and distressed commercial properties.
ABM Property Preservation Group will provide owners of distressed properties with the ability to consolidate their maintenance and oversight needs across their entire portfolio, according to the company.
ABM Property Preservation Group will offer property maintenance programs customized to the needs of each client. The unit will offer a complete range of services, from initial inspection to preventive maintenance tasks and on-demand repairs.
The magnitude of distressed commercial properties in the U.S. is alarming and growing, given current economic factors. According to Real Capital Analytics, as of February 10, 2009, well over 5,000 commercial properties with a collective market value of nearly $125 billion were categorized as distressed. The three largest categories of distressed properties were office buildings ($28.6 billion), retail facilities ($28.2 billion) and apartment complexes ($21.6 billion).
The unit will assist owners with property concerns such as vandalism at vacant sites, roof leakage, pest and insect infestation, winterizing to protect plumbing, venting and overall building integrity, as well as requisite snow and ice removal programs needed to stay in line with local municipal ordinances.
ABM will also provide clients with a dedicated 24/7 call center, robust Web portal and experienced Customer Service Team to address all of their property maintenance and repair needs through a single point of contact.
For more information visit the Web.
