Suburban Milwaukee, Wisconsin
The Wisconsin Evangelical Lutheran Synod (WELS) was concerned about the rising cost to maintain their aging building so they engaged Irgens to perform a comprehensive property analysis. The inclusive study offered recommendations on replacement items, provided a market-based competitive rent analysis and offered corresponding budget amounts for recommended projects. After consulting with the company’s CFO to make him aware of other local real estate opportunities, Irgens surmised that the cost of rehabbing the client’s current building would be greater than purchasing a new one. After a period of due diligence, Irgens successfully closed and this client became the owner of a class A building for approximately half of what it would have cost to build.
The partnership continued as WELS contracted with Irgens to provide full property management services at the 2949 building, including facility management, rent collection and leasing. Then, WELS invited Irgens to provide facility services for their administrative building which had all been previously handled in-house. Irgens competitively bid and negotiated new contracts with vendors who provided a higher level of service at a lower cost. Irgens then reviewed all preventative maintenance contracts and was able to reduce HVAC costs by 50% and achieved thousands of dollars worth of savings in elevator maintenance.
“I recommend [Irgens] highly as they bring leadership, organization, proficiency, creativity and a ‘total team’ attitude to each and every assignment.”