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Monthly Archives: August 2017


The Advantages and Benefits of Design-Build Construction

design-buildDesign-Build is a delivery method that provide owners with a single point of contact for both the design and construction. The Design-Builder is responsible for all aspects of a project: from estimating, assessments and preconstruction to architecture, schematics, engineering, subcontracting, construction and post construction. Schedules are streamlined. Costs are minimized. Efficiencies are realized. The TEAM works together from initial concept through to ribbon cutting and beyond. All done with open communication and purposeful collaboration, with the owner’s involvement in the decision-making process. TOGETHER… that’s the Design-Build philosophy.

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The Advantages of Design-Build Construction

Singular Responsibility: It’s all under one contract…a “one-stop-shop” for architecture, engineering and construction; a single point of responsibility for quality, costs and schedule. This effort results in a strong relationship that is committed to the ultimate success of the project with a collaborative partner all the way through the project.

Quality:
Greater responsibility is also a motivation for higher quality and the proper performance of process and building systems. D/B equals or improves the quality over typical design-bid-build projects because quality is designed into the project early on.

We’re on the Same Team:
As a team of design and construction professionals, we’re able to quickly and proactively approach the project since the team is closely aligned. Also, the infusion of construction knowledge into early design decisions will result in a highly efficient design from the very beginning…and that carries forward throughout the entire process with advantages to design, constructability, phasing and coordination.

Cost Savings:
Time is money…and working together, the planning, design and construction team members evaluate scope, size, alternatives, material selections, and methods efficiently and accurately…and this results in a strong cost analysis, an increased potential for reduced costs…but the greatest benefit is CERTAINTY.

Value Engineering:
Those can be “fightin’ words” in a typical project, but teamwork enables the evaluation of alternative systems, materials and methodologies efficiently and accurately. From the commencement of a project, the design and construction are woven into one component, even operating expenses can be
properly evaluated against the lifecycle costs of the project.

Time Savings:
The schedule can be crunched because of the overlap of design and construction…and gets you to the market faster. Long lead items can be committed to and purchases made well ahead of time. The entire schedule can be significantly reduced, resulting in earlier usage, and thus, positively influencing your bottom-line. Saving time = saving money.

Early Knowledge of Firm Costs:
This is a crucial benefit: The entity that is responsible for design is simultaneously controlling construction cost while accurately conceptualizing the completed project. This results in guaranteed construction costs far sooner in the project than traditionally possible.

As you can see, the real value is in the process itself, and the real advantage for the client is that the price becomes the price. A number you can count on. It’s a one-stop-shop that you can depend upon. Save time; save money. Design-Build enables the power of the team to deliver projects faster, better and for optimum costs…it’s the best value for the money, time and effort invested. What a better way to protect that investment and build a project that is easier, more efficient, faster and less expensive…it just makes sense!

Paul Stridick, AIA
Paul is Director of Design-Build at The Bannett Group. He is an award-winning architect that also has extensive government experience. Prior to joining TBG, Paul was the Director of Community Development for Cherry Hill Township, NJ, a 26-square mile suburban community in the Philadelphia metropolitan area. Before that, he was the Director of the Division of Housing and Community Resources for New Jersey’s Dept. of Community Affairs.
The Bannett Group is a South Jersey firm that was founded in 1970. Since then, we’ve become one of the fastest growing design and construction firms in the region, with a portfolio of work that spans the country.

The Bannett Group always views our design & construction services as a set of tools available to complete each job. We’ll pick the best tool or delivery method for each job…general contracting, construction management or even a fully integrated Design-Build package. Whatever the tool, we get the job done. With our steadfast history and fine-tuned in-house talent, we’re able to complete each project on time…on budget…every time.

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Philadelphia Industrial Vacancy Increases to 5.9 Percent

The Philadelphia industrial market ended the second quarter of 2017 with a vacancy rate of 5.9 percent.

The vacancy rate in the region’s commercial real estate market – including Philly office space, Philly retail space and Philly industrial space – was up over the previous quarter, with net absorption totaling positive 1,782,519 square feet in the second quarter. That compares to positive 9,931,174 square feet in the first quarter 2017. Vacant sublease space increased in the quarter, ending the quarter at 1,193,014 square feet.

The flex building segment of the Philadelphia commercial real estate market recorded net absorption of positive 428,315 square feet while the warehouse building market recorded net absorption of positive 1,354,204 square feet in the second quarter 2017.

This report on Philadelphia commercial properties is being made through Philadelphia commercial real estate broker Wolf Commercial Real Estate, a Philadelphia commercial real estate brokerage firm.

Tenants moving into large Philadelphia commercial real estate properties in 2017 include: Uline moving into 1,070,000 square feet at Liberty Business Center III – Building 1, Mattel moving into 1,002,000 square feet at 575 Old Forge Road, and PepsiCo moving into 502,754 square feet at 545 Oak Hill Road.

Rental rates among Philadelphia commercial real estate listings ended the second quarter at $4.84, a decrease over the previous quarter.

Fourteen buildings totaling 5,075,807 square feet were delivered to the commercial real estate market – including Philly office space, Philly retail space and Philly industrial space – in the quarter, with 15,226,755 square feet still under construction at the end of the quarter.

This trend is compared to the U.S. national industrial vacancy rate, which decreased to 5.1 percent from the previous quarter, with net absorption positive 71.76 million square feet in the second quarter. Average rental rates connected to Philadelphia commercial real estate listings increased to $6.22, and 537 industrial buildings delivered this quarter totaling more than 64.4 million square feet, with almost 272.4 million square feet still under construction.

For more information about Philly office space, Philly retail space and Philly industrial space or other Philadelphia commercial properties, please call 215-799-6900 to speak with Jason Wolf (jason.wolf@wolfcre.com) or Lee Fein (lee.fein@wolfcre.com) at Wolf Commercial Real Estate, a leading Philadelphia commercial real estate broker that specializes in Philly office space, Philly retail space and Philly industrial space.

Wolf Commercial Real Estate is a Philadelphia commercial real estate brokerage firm that provides a full range of Philadelphia commercial real estate listings and services, marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other Philadelphia commercial properties for buyers, tenants, investors and sellers.

Wolf Commercial Real Estate, a Philadelphia commercial real estate broker with expertise in Philadelphia commercial real estate listings, provides unparalleled expertise in matching companies and individuals seeking new Philly office space, Philly retail space or Philly industrial space with the Philadelphia commercial properties that best meets their needs.

As experts in Philadelphia commercial real estate listings and services, the team at our Philadelphia commercial real estate brokerage firm provides ongoing detailed information about Philadelphia commercial properties to our clients and prospects to help them achieve their real estate goals.  If you are looking for Philly office space, Philly retail space or Philly industrial space for sale or lease, Wolf Commercial Real Estate is the Philadelphia commercial real estate broker you need — a strategic partner who is fully invested in your long-term growth and success.

Please visit our websites for a full listing of South Jersey and Philadelphia commercial properties for lease or sale through our Philadelphia commercial real estate brokerage firm.

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Optimize Energy With LED Lighting

Businesses and homes are always looking for ways to save money. The use of LED Lighting is a great way to be more energy efficient. Recently, there has been many improvements in LED Lighting.

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LED LightingReduce Energy Use With LED Lighting

What is one of the easiest steps you can take to reduce your home or business operating costs? Look to your lighting. While not exactly new to the market, solid state lighting technologies have made huge improvements in quality, output and application in the past five years. New design benchmarks implemented through the Design Lighting Consortium (DLC) has offered some standardization within a marketplace that was considered the Wild West of the lighting world. That is not to say that there is still not a lot of questionable product put onto the market from which the buyer then needs to try and make an decision on what is of quality and what is not.

The vast majority of LED lamps and fixtures are manufactured in China. There are currently over 19,000 factories that manufacture or assemble LED lighting within the country of which only a small percentage actually produce a good quality offering. Many of these other products are sold within “bin” auctions where they end up in products readily found on sites such as Alibaba that will also include ridiculously low shipping charges as well. These products will not be DLC registered nor certified to North American safety standards such as UL. Buyers of these products need to consider very carefully if they are willing to risk issues such as an insurance investigation following an incident in which their compensation coverage is denied to them due to the use of these products.

At the same time, we have large home improvement chains that offer entire aisles of LED lighting with pricing that seems to drop with each weekend special. Consumers will look to these products and think, great, saving electricity, going green for the environment and getting what seems to be a much brighter light than the conventional incandescent lamps they are replacing. They are then perturbed by the quality when the lamp only lasts them a year before it needs to be replaced. What the consumer needs to understand is that the big box home improvement store’s business plan is not based on selling the consumer a lamp or fixture that is going to last ten years. They need constant movement of product off their shelves in order to stay profitable. Read the fine print on the back of the packaging. It will most likely say something to the effect of: 1 (up to 3) years warranty IF used maximum 3-4 hours per day, Must be returned with proof of original purchase and possibly with packaging, Purchaser must send product to “x” location and incur the shipping costs”. Ultimately, the consumer will end up throwing out the lamp, buying a new one and feeling like the whole LED promise is just another example of fake news.

There is a positive size though, with many benefits to an LED lighting switch over or specification of use in a new project. The consumer just needs to be educated enough to know what to look for. Like most things, you get what you pay for.

Let’s Start With The Benefits of LED Lighting

LED Lighting Save Money.
This is true. The average LED equivalent will generally use between ¼ and ½ of the power that their conventional equivalent. As an example, the fluorescent tubes Hollogram utilize consumer 12W of power. They replace a standard T8 tube that is rated at 32W (but will actually use 34W when including the consumption for the ballast.). This same tube will last approximately 2 to 3 times the life expectancy of the Fluorescent tube (that is 2 – 3 time maintenance costs to replace) and we can eliminate the ballast to further reduce the amount of maintenance and replacements required over the life span. When factoring in the energy savings and the maintenance savings offerings, a facility that has high use areas can recognize a return on investment within a very short period of time – under one year for some 24/7 facilities. LEDs have a lifespan well in excess of 60,000 hours (up to 100,000 hours) compared with a marginal 1,500 hours for incandescent bulbs. An LED light will last well over 7 years (with constant use) before needing replacement. On average, LED bulbs last 2 – 3 times as long as fluorescent tubes, 10 times as long as compact fluorescent bulbs, 3 – 6 times as long as HID and MH and 133 times longer than typical incandescent bulbs.

LED’s are different to standard lighting: they don’t really burn out and stop working like a standard light. “Lumen Maintenance” is the term used to describe the amount of light produced at any select elapsed operating time, expressed as a percentage of the initial light output of the lamp. Lumen Maintenance compares the amount of light produced from a brand new lamp to the amount of light output at a specific time in the future. Over an extended period of time, lighting diodes degrade and emit less light. A quality LED can expect to produce over 80% of it’s original lumen output even after 50,000 hours of use. The standard end-of-life for an LED lamp is when the lumen maintenance reaches 70% of its initial output.

Typical Lifespan Scenarios:

  • 50,000 hour fixture, powered 4 hours / day: 34 year lifespan
  • 50,000 hour fixture, powered 8 hours / day: 17 year lifespan
  • 50,000 hour fixture, powered 24 hours / day: 6 year lifespan

Durability:
LEDs are solid state lighting devices that utilize semiconductor material instead of a filament or neon gas. An LED light is a tiny chip encapsulated in an epoxy resin enclosure, which makes LEDs far sturdier than traditional incandescent light bulbs or fluorescent tubes. Since LEDs don’t use fragile components such as glass and filaments, LEDs are able to withstand shock, vibration and extreme impacts. LEDs are suited for all environments and installations. When compared with other lighting technology, LED lamps are better suited for applications involving outdoor lighting, rough conditions, exposure to weather, wind, rain or even external vandalism, traffic related public exposure and construction or manufacturing sites.

Lighting Quality:
LEDs are designed to focus their light and can be directed to a specific location without the use of an external reflector, achieving a higher application efficiency than conventional lighting. In addition, LEDs offer more uniform light coverage when compared to other lighting devices. Well-designed LED illumination systems are thus able to deliver light more efficiently to the desired location.

LEDs also benefit from:

  • Dimmable: Most lamps and fixtures can be dimmed through a number of technologies including triac dimming and
    step dimming.
  • Flexibility: LEDs can be combined in any shape to produce highly efficient illumination.
  • Color: LED lights are offered in a variety of base colors such as Red, Green, Blue and White resulting in the ability
    to produce millions of color options. In addition, white offerings can be produced in any color in the “temperature”
    spectrum desired – 2,500 K to 12,000 K (High-Noon daylight is 6,500 K)
  • Cold Weather Performance: No more waiting, LED lamps are instant on. LED are ideal for operation under cold and low outdoor temperature settings.
  • Environment and Safety: LEDs are made from non-toxic materials, unlike fluorescent lighting that uses mercury that pose a significant danger to the environment and people. They also alleviate safety concerns of exposure to mercury vapors, and broken glass, in the case of accidental breakage. LED’s are 100% recyclable and considered “green” or Earth-Friendly.

In addition, LED lights generate virtually no heat therefore they are cool to the touch and can be left on for hours without incident or consequence if touched. LED’s produce 3.4 btu’s/hour, compared to 85 btu’s for incandescent bulbs. In comparison, incandescent lighting expels 90% of the energy it consumes via heat, making the bulbs hot to the touch. LEDs reduce the potential for safety risks such as burns and fires.

Finally, LED illumination produces little infrared light and close to no UV emissions. As a result, LED lighting is highly suitable not only for goods and materials that are sensitive to heat due to the benefit of little radiated heat emission, but also for illumination of UV sensitive objects or materials such as in museums, art galleries, archaeological sites etc.

Jason Holloway
President
Hollogram
162 Gleneagles View
Cochrane, Alberta, T4C 1W2
p: 403.681.8481
e: Jason.Holloway@hollogram.ca

 

Hollogram’s Differential:
As we noted above, not all lighting is created equal. It is Hollogram’s aims to provide the best, reliable, quality lights that both save money and help save the planet. We are constantly evolving our products and product range to provide the best solutions to not only meet, but also exceed the needs and expectations of our clients. A leader in the solid-state lighting industry, Hollogram is focused on lighting design and supply of quality lighting solutions for commercial, industrial, education, sporting, hospitality, and many other applications. These solutions include direct fixture replacement and retrofitting of existing fixtures with advanced solid-state lighting products. Hollogram is set on providing turnkey solutions with exceptional value and customer support to our clients throughout North America.

Hollogram offers LED products for any solution. From decorative lighting to offices, schools, homes, industrial, or various indoor and outdoor lighting applications, we carry high quality LEDs that are backed with 5-year warranties or longer. Our LEDs have exceptionally long lifespans of 50,000 hours or more, which will last over 21 years in the average workplace environment. All lighting offered is certified to not only DLC standards but all North American (usually UL) standards as well.

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National Price Indices Trending Upward at Midyear

Midyear 2017 pricing trends continue to rise steadily across all U.S. regions and types of properties as the equal-weighted U.S. Composite Index rose by 1.4 percent in June, contributing to a second-quarter gain of 5 percent, as the value-weighted U.S. Composite Index advanced by a similar 1.3 percent for the month and by 4.1 percent for the quarter.

Driven by the second-quarter and recent monthly advances, the value-weighted U.S. composite index, reflecting larger asset sales common in core segments across the commercial real estate market – including Philly office space, Philly retail space and Philly industrial space – erased losses earlier in the year, and expanded by 5.4 percent over the 12-month period ending June 2017.

This report in relation to national and Philadelphia commercial properties is being offered through Philadelphia commercial real estate broker Wolf Commercial Real Estate, a Philadelphia commercial real estate brokerage firm.

Pricing momentum, however, remains strongest in the lower end of the market in 2017. The equal-weighted U.S. Composite Index, reflecting the more numerous but lower-priced property sales typical of secondary and tertiary U.S. and Philadelphia commercial real estate properties, increased 17.5 percent over the past year, the strongest 12-month period on record.

Of note among property types studied by Costar Realty Information Inc. is the U.S. Office Index, where stable fundamentals supported 11 percent growth, the only double-digit growth rate among the four major property sectors over the 12-month period. The four major property-type indices in the U.S. and Philadelphia commercial real estate markets recorded price growth of an average 2 percent during the second quarter.

The Prime Markets Indices, dominated by transactions in the largest core coastal metros, have generally increased more slowly than the broader national property type indices, in keeping with the larger pricing index growth rates in non-core markets involving national and Philadelphia commercial real estate listings.

Continuing a trend of declining investment sales transaction activity that began last year and is likely to last through 2017 in the U.S. commercial real estate market – including Philly office space, Philly retail space and Philly industrial space, composite sale pair volume totaled $128.7 billion in the 12-month period ending in June, down 2.2 percent from the previous 12-month period.

Steady pricing growth also increased across all four major U.S. regions in the second quarter as did those involving U.S. and Philadelphia commercial real estate listings. Regional indices advanced by an average of 1.9 percent. The Northeast Index saw the strongest growth over the 12-month period at 11.7 percent while the South Index advanced 9.9 percent. The West Index increased 8.2 percent and Midwest Index rose 7.4 percent during the same period.

For more information about Philly office space, Philly retail space and Philly industrial space or other Philadelphia commercial properties, please call 215-799-6900 to speak with Jason Wolf (jason.wolf@wolfcre.com) at Wolf Commercial Real Estate, a leading Philadelphia commercial real estate broker that specializes in Philly office space, Philly retail space and Philly industrial space.

Wolf Commercial Real Estate, a full-service CORFAC International brokerage and advisory firm, is a premier Philadelphia commercial real estate brokerage firm that provides a full range of Philadelphia commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other Philadelphia commercial properties for buyers, tenants, investors and sellers.

Wolf Commercial Real Estate, a Philadelphia commercial real estate broker with expertise in Philadelphia commercial real estate listings, provides unparalleled expertise in matching companies and individuals seeking new Philly office space, Philly retail space or Philly industrial space with the Philadelphia commercial properties that best meets their needs.

As experts in Philadelphia commercial real estate listings and services, the team at our Philadelphia commercial real estate brokerage firm provides ongoing detailed information about Philadelphia commercial properties to our clients and prospects to help them achieve their real estate goals.  If you are looking for Philly office space, Philly retail space or Philly industrial space for sale or lease, Wolf Commercial Real Estate is the Philadelphia commercial real estate broker you need — a strategic partner who is fully invested in your long-term growth and success.

Please visit our websites for a full listing of South Jersey and Philadelphia commercial properties for lease or sale through our Philadelphia commercial real estate brokerage firm.

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E-Commerce Comes to Food Shopping as Amazon Buys Whole Foods

Grocery stores, once considered more immune to risks from online competition compared with its clothing and department store counterparts, may not be as resilient as many have long thought.

After Amazon dropped the recent bombshell news that it plans to buy Whole Foods Market Inc. for $13.2 billion, some investors and analysts in the commercial real estate market – including Philly office space, Philly retail space and Philly industrial space – are reassessing the prospect for e-commerce to make more rapid incursions into the food retail business.

This CoStar report in relation to national and Philadelphia commercial properties is being offered through Philadelphia commercial real estate broker Wolf Commercial Real Estate, a Philadelphia commercial real estate brokerage firm.

Other skirmishes between grocers and online retailers involved with U.S. and Philadelphia commercial real estate properties that have been growing over the past couple of years are now intensifying. National name-brand food product makers are redirecting millions of dollars into e-commerce efforts to boost sales directly to consumers.

This month, Campbell Soup Co. announced plans to accelerate the company’s digital and e-commerce capabilities by forming an e-commerce unit in North America and setting a goal in its U.S. and Philadelphia commercial real estate markets of generating $300 million per year in e-commerce sales over the next five years.

“E-Commerce is a significant growth opportunity for Campbell, and it represents the future of food commerce,” said Mark Alexander, President – Americas Simple Meals and Beverages, for Campbell Soup. “Only those who get there in a fast and smart way will win, and Campbell intends to do just that. We have an accelerated strategy to invest and grow in this space.”

The move is also seen as a response to slumping organic sales in the U.S. Campbell’s sales, which decreased 1 percent over the last nine months, which were driven by a 1 percent decline in organic sales, reflect higher promotional spending and lower volume in relation to its national and Philadelphia commercial real estate listings. In its Americas Simple Meals and Beverages division, the most recent sales numbers were down 2 percent.

In fact, equal weighted comparable grocery store sales growth within the industry is decreasing across the U.S. commercial real estate market – including Philly office space, Philly retail space and Philly industrial space. Year-over year grocery sales were increasing a little more than 4 percent annually three years ago; that flattened to about 0.3 percent in fiscal year 2016, according to analysis by CoStar Portfolio Strategy.

Campbell’s goal to reach $300 million in e-commerce sales would represent 3.6 percent of the brand’s annual sales. Studies project online grocery spending related to U.S. and Philadelphia commercial real estate listings could grow during the 2016-2025 forecast period from 4.3 percent. Last year, online grocery sales were about $20.5 billion.

For more information about Philly office space, Philly retail space and Philly industrial space or other Philadelphia commercial properties, please call 215-799-6900 to speak with Jason Wolf (jason.wolf@wolfcre.com) at Wolf Commercial Real Estate, a leading Philadelphia commercial real estate broker that specializes in Philly office space, Philly retail space and Philly industrial space.

Wolf Commercial Real Estate, a full-service CORFAC International brokerage and advisory firm, is a premier Philadelphia commercial real estate brokerage firm that provides a full range of Philadelphia commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other Philadelphia commercial properties for buyers, tenants, investors and sellers.

Wolf Commercial Real Estate, a Philadelphia commercial real estate broker with expertise in Philadelphia commercial real estate listings, provides unparalleled expertise in matching companies and individuals seeking new Philly office space, Philly retail space or Philly industrial space with the Philadelphia commercial properties that best meets their needs.

As experts in Philadelphia commercial real estate listings and services, the team at our Philadelphia commercial real estate brokerage firm provides ongoing detailed information about Philadelphia commercial properties to our clients and prospects to help them achieve their real estate goals.  If you are looking for Philly office space, Philly retail space or Philly industrial space for sale or lease, Wolf Commercial Real Estate is the Philadelphia commercial real estate broker you need — a strategic partner who is fully invested in your long-term growth and success.

Please visit our websites for a full listing of South Jersey and Philadelphia commercial properties for lease or sale through our Philadelphia commercial real estate brokerage firm.

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Flood Elevation Certificates

Flood Elevation CertificatesAs licensed and insured professional engineers, land surveyors and providers of Flood Elevation Certificates in New Jersey and Pennsylvania, we receive calls daily from individuals who ask “What is a flood elevation certificate?” and “Why do I need one?” But it isn’t only homeowners; businesses can also be impacted. Commercial realtors are often faced with these same questions. Here are just a few of the FAQs.

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What is a Flood Zone?

A Flood Zone is an area that the government has determined has a high, medium or low probability that a flood will occur based upon severe weather conditions. The Federal Emergency Management Agency (FEMA) use results of extensive flood studies to determine such zones and publishes “Flood Insurance Rate Maps” (FIRM) on the FEMA Map website.

What is a Flood Elevation Certificate and where do I get one?

The National Flood Insurance Program uses Flood Elevation Certificates to certify the base flood elevation of
residential and commercial buildings. A state-licensed land surveying firm completes the certification.
Does getting a Flood Elevation Certificate guarantee my flood insurance rate will be decreased?
Although there are no guarantees, a lower premium may be possible yet only the insurance company can determine this based on the Flood Elevation Certificate. If the structure is recorded at an elevation above the level at which FEMA has determined for probably flooding, the insurance company has the ability to lower rates.

Who is LOMA?

LOMA stands for Letter Of Map Amendment and it is something to be requested if a Flood Elevation Certificate places your home or business outside a flood zone. Upon review and agreement, the government will issue a LOMA for the property. Even with this in hand, certain insurance companies may still require owners carry flood insurance. If so, neighbors and nearby businesses may recommend other possible insurance carriers.

Do I need to be onsite when the fieldwork is conducted?

This answer will vary but in general, if the property is on a slab with no crawl space, or has a crawl space that is
accessible to the surveyor, owners do not need to be there. However, if there is a basement, someone will need to be onsite. This is also true if there are pets even if they are in the back yard.

How long will it take to get my Flood Elevation Certificate?

Turnaround times can vary based upon the companies current workload. At Stout & Caldwell, we strive to have
electronic copies of the Flood Elevation Certificate emailed within 36 hours of our site visit with the signed copies
with raised seal in the mail that same day.

Why is a Flood Elevation Certificate Needed?

In order to determine your proper insurance rate, insurance companies will require property owners obtain a Flood Elevation Certificate certified by a licensed land surveyor or engineer. This is specifically true in New Jersey and Pennsylvania but may vary by state.

It’s important to note that no property is singled out. It is also true that all properties in a designated high risk area may differ from door to door. Upon receiving a letter from FEMA or your insurance company requiring a flood elevation certificate, neighbors and local business owners may choose to join forces and hire a licensed surveyor to reduce costs which generally run between $400.00-$650.00 per certificate. It is also a good time to speak with your insurance carrier to ensure proper coverage. For more information or to obtain a flood elevation certificate, contact Stout & Caldwell, LLC at 856-786-2202 or djc@stoutcaldwell.com.

Daniel J. Caldwell
Principal
Stout & Caldwell, LLC

705 US Rt. 130 South
PO Box 2290
Cinnaminson, NJ 08077

856-786-2202 (p) ext. 304

djc@stoutcaldwell.com

About Daniel J. Caldwell

Co-Founder and Principal, Stout & Caldwell, LLC
Daniel J. Caldwell is co-founder and principal with Stout & Caldwell, LLC, a leading provider of professional and technical engineering and consulting services in NJ and PA. His primary focus is new business development and marketing of the firm, but also assists with office oversight and proposal writing. Dan has more than 25 years experience working in the environmental industry as a NJPDES permit compliance professional for a NJDEP Certified Testing Laboratory and has sat as the Environmental professional for the Mansfield Township Environmental Commission since 2004. With his expertise, Dan also works with the team on Phase I Environmental Assessments, sampling, surveying and soil test borings. Some notable client projects include Conifer/MEND (Springside School in Burlington Township, NJ), Jewish Community Center Campus in Princeton, NJ, Merion Caterers Facility in Cinnaminson, NJ and Urban Promise Spirit Building in Camden, NJ. Dan is active in the business community. He sits as the current President of Businesses Committed to South Jersey. He also sits on the Trustee Board at Rowan College at Burlington County (RCBC) and the Burlington County YMCA.

About Stout & Caldwell, LLC

Stout & Caldwell Engineers is a provider of professional and technical engineering and consulting services to commercial real estate development, affordable housing, residential developers, retail developers, industrial developers, food manufacturers, military contractors, construction firms and non-profit organizations. Founded in 2004, the firm specializes in site plan design, land survey and environmental solutions, including flood elevation certificates in the tri-state area. Stout & Caldwell Engineers serves clients throughout New Jersey, Pennsylvania and Delaware from its headquarters at 705 US Route 130 South in Cinnaminson, NJ. For more information, contact (856) 786-2202 or visit stoutcaldwell.com.

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Business Risk Exposure from Drones

Business Risk Exposure from DronesLet’s explore the business risk exposure from drones (UAS). While the military and hobbyists have been using unmanned aerial systems (UAS), better known as drones, for some time now, businesses are just starting to adapt the technology for their own uses. UAS are creating new opportunities—and new risks—for businesses to evaluate, and regulators and insurance carriers are scrambling to keep pace.

Unmanned aerial drones (UAS) are a new type of aircraft that has broad commercial and personal uses. UAS can be used to market and inspect buildings and construction sites, deliver materials or fly around as simple, recreational products.

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Risk Exposure from Drones #1 – REGULATION

The FAA currently considers UAS to be in the same category as manned aircraft, and the agency has released some very comprehensive rules on the commercial use of drones. UAS that are used only for recreation are still considered aircraft, and most of them must be registered with the FAA. Because the FAA currently considers UAS to be in the same category as manned aircraft, any attempt to damage or destroy one can result in federal penalties—up to 20 years in prison and $25,000 in fines.

Risk Exposure from Drones #2 – PHYSICAL LOSS: BEYOND THE AIRCRAFT

With UAS, it’s often the loss of the payload—not the aircraft itself—that can be the most costly. One of the most widespread applications to date has been in unmanned aerial photography. Businesses in real estate, agriculture, filmmaking and insurance all have interests in surveying and photographing land, and the cameras used to do so can get expensive. Because of the increasing affordability of drones, the payload often has a higher intrinsic value than the aircraft itself. Additionally, cameras and other payloads are usually slung below the aircraft, meaning that in the event of a hard or emergency landing, damage to the payload is almost certain.

Risk Exposure from Drones #3 – CASUALTY AND LIABILITY

As with conventional aircraft, a UAS crash could mean a hefty casualty claim. While the crash rate is actually relatively low with conventional aircraft, UAS are not subject to the tight maintenance requirements or the stringent operator regulations that make conventional commercial aircraft crashes so rare. Businesses should make sure they are adequately covered in the event of property damage or injury to a third party.

Risk Exposure from Drones #4 – BROAD USE

Another benefit that could become a potential liability is the flexibility of the technology. The same UAS that photographs a parcel of land could be used to survey a hazardous chemical spill. This kind of flexibility offers a broad number of business opportunities, but each new opportunity brings its own exposures. Businesses will have to think through how they plan on using their UAS in order to make sure that their FAA authorization
and their insurance cover each arena of commercial use.

Risk Exposure from Drones #5 – LIABILITY FOR PRIVACY

Privacy represents one of the largest exposures with regard to drones. A highly maneuverable technology that gives remotely operated cameras access to virtually any location is bound to result in claims of privacy breach. What’s unclear, however, is how both the legal system and insurers plan to address these new exposures.
Currently, carriers exclude all privacy-related claims, but the increased exposure means that there’s a potential market for such protection. However, without some kind of precedent, it’s unclear how, if at all, the insurance industry will respond. 

Risk Exposure from Drones #6 – CYBER LIABILITY

As with all new technology, UAS create new opportunities and risks for businesses. Perhaps the greatest potential liability comes from the cyber risks posed by UAS. As technology advances, UAS will be able to remotely hack into computer systems and steal data.

FOR MORE INFORMATION:

David Leff
Account Executive
The Barclay Group

Phone: 856-829-1594, x1216

Email: dleff@barclayinsurance.com

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