January 2016
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Happy New Year

Tom Griffin

The 2015 year end close coincided with record warm temperatures on the East Coast and catastrophic flooding throughout extended portions of the Mississippi River Valley, in particular Missouri and Illinois. These weather events provide tangible signs of how nature can impact so many facets of commercial real estate - energy, insurance, tenant service, operating costs and life safety.     

January's newsletter highlights the continued recent upward trend in LIBOR rates which, in turn, will increase the cost of financing to commercial real estate owners.  Several articles reveal practical applications in building life safety & security programs. Our feature property search headed west, to San Francisco, CA, in showcasing the exceptionally designed Transamerica Pyramid.           

We hope you enjoy and we look forward to hearing from you.

Tom Griffin, CPM, LEED Green Associate
BuildingsOne Founder

LIBOR UPDATE | 1st Week of 2016

The London Interbank Offered Rate (LIBOR) continues to increase at a steady clip, from the last quarter of 2015, through the fist week of 2016.       As of January 6, 2016, the 1 Year LIBOR Rate is 1.18, nearly double the       1 Year LIBOR Rate (.63) a year ago.

LIBOR is the rate of interest banks offer to lend money, to one another, in the wholesale money markets in London.  LIBOR is the most popular index for short-term interest rates around the world.  LIBOR rates are determined for loan periods ranging from overnight to one year.  It's a standard (benchmark) financial index used in the United States capital markets and is commonly used in setting the cost of variable-rate commercial real estate loans.

LIBOR Rates reached record lows in 2015.  From a long-term historical perspective, current rates are generally favorable for borrowers.  However, LIBOR rates have been steadily increasing from last year.  

            1 Month LIBOR RATE
This Week        Month Ago       Year Ago
    0.42              0.29              0.17

            3 Month LIBOR RATE
This Week        Month Ago       Year Ago
   0.62               0.49              0.25

           6 Month LIBOR RATE
This Week        Month Ago       Year Ago
   0.85               0.72              0.36

              1 Year LIBOR RATE
This Week        Month Ago       Year Ago
    1.18              1.02              0.63


BOMA International 
Winter Business Meeting and National Issues Conference
Washington, DC

January 31 - February 3, 2016
Institute of Real Estate Management
Leadership & Legislative Summit
Featuring Capitol Hill Visit Day
Washington, DC
April 9 - 13, 2016


Transamerica Pyramid

An iconic San Francisco landmark, the Transamerica Pyramid is recognized, alongside the city's famous cable cars and Golden Gate Bridge, by visitors around the world.  This prominent building, of exceptional design, was completed in 1972.   More >>

Department of Homeland Security (DHS)

National Terrorism Advisory System (NTAS) Update

The U.S. Department of Homeland Security (DHS) issued a National Terrorism Advisory System (NTAS) Bulletin, on December 16, 2015, formally updating the NTAS by adding a new form of advisory - the NTAS "Bulletin".  The Bulletins are in addition to the current NTAS "Alerts" and, when issued, will be sent out widely through social and mainstream media.

The NTAS Bulletin will provide broader or more general information about terrorism events, and potential threats in those situations where additional precautions may be warranted, but where the circumstances do not indicate a threat against the United states of sufficient credibility, or specificity and credibility, to issue an Alert.   

In accordance with the DHS web-site: The "Alert" advisories will remain the same and will be issued in one of two forms: Elevated, if we have credible threat information, but only general information about the timing and target, or Imminent, if we believe the threat is credible, specific, and impending in the very near term.  

Read full article.

Fire & Evacuation Drill Best Practice

The primary purpose of a building fire & evacuation drill is to ensure building occupants know how to respond to a building fire incident, or other building emergencies, with an emphasis on familiarity with the building's evacuation routes and procedures.  The periodic fire drill, and associated training, involving participation from building emergency response team facilitators, fire wardens and building occupants, is a vital life safety training requirement, and a legal one.  

The local Authority Having Jurisdiction (AHJ), typically the city or county fire department, will promulgate the specific frequency, and other requirements, for conducting and documenting fire and evacuation drills, at commercial buildings within their jurisdiction. The property operator's performance, of periodic fire and evacuation drills, is a legal obligation, with specific requirements varying by location and building use.  

The fire drill itself represents one component of the property's fire and evacuation drill program. The organized preparation, and subsequent execution, of a fire and evacuation drill, can best be accomplished by approaching the program in five distinct phases: 1. Communication and Preparation,  2. Fire Warden Training, 3. Fire & Evacuation Drill Event, 4. Evaluation & Debrief and 5. Documentation.  BuildingsOne library includes a Fire & Evacuation Drill - Forms Package including evaluation and documentation templates to support the fire drill facilitator in conducting a best practice fire & evacuation drill.    

Read full article.

About BuildingsOne

BuildingsOne maintains a comprehensive library of commercial real estate documents and templates, covering all core property operating and administrative practices, that can be easily modified to suit the real estate manager's specific needs.

Learn More >>

Library Series
Accounting & Operating Expenses
Administration & Operations 
Energy & Utilities
Lease & Legal Administration
Life Safety & Security
Technical Services

Documents and templates, recently added to the library, include:

Security Services Request for Proposal (RFP)
Fire & Evacuation Drill - Best Practice Procedures
Fire & Evacuation Drill - Forms Package 
Fuel Systems & Underground Storage Tanks (UST) - O & M Best Practice
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