From the desk of the CEO of TIG Real Estate Services
A message of hope, confidence and commitment
March 20, 2020
What a month is has been! We wanted to share that TIG remains healthy, active and open. We are, as always, available to help or listen and respond as the needs arise.
How Are We Making Business Decisions at TIG?
Our collective view of the future at this moment in time is more limited than usual. These are never-before-seen pathways for all of us. Our world view, and the planning framework and actions we are taking for our clients, dictate that while this interruption is likely to be quite profound and deeply impactful, it should prove to have been temporary. Our planning and strategy contemplate a recovery of the US economy during the second half of 2020. We are staying up to date with the current markets, making and advising our tenants and clients to make prudent decisions about deferring non-essential business decisions when appropriate, as we believe delaying essential decisions and those that are already in the pipeline should be carefully weighed. TIG is keeping a keen eye and open mind for opportunities for its customers that are driven by current events. Though we see indications of stress, we are also experiencing a faith in the market place that there is another story that will likely evolve. TIG is not and does not expect to fundamentally alter our long-range plans and our team structure. We are in a mode of making decisions based on both what we learn each day and what we are confident about for the future.
We are participating fully in our community’s and our nation’s efforts to “flatten the curve” in terms of the virus’ spread by transitioning to a fairly virtual workspace – making it easier than ever to serve ourselves, our clients and customer through this tough time. This transition to a digitally focused workplace has been and continues to be relatively seamless for us.
What should you expect from TIG?
TIG’s team remains fully engaged and doing the work of our business for our customer and clients. This effort and work includes:
- Property Management: TIG will continue to provide “hands on”, fully committed service in managing your properties. Weeks ago, upon the first notices of the virus, our property management team began to prepare for today’s environment. Through training, by building a strong inventory of critical tools and supplies (which are not in short supply), creating written rapid and durable response plans, making critical employee reassignments, communicating regularly with building owners and continuously researching industry trends, TIG has been able to provide exceptional, uninterrupted and dependable services at all of the facilities that it manages and will continue to closely monitor important factors to ensure sound decisions are being offered and our tenants are properly serviced.
- Building Engineering: Many of you understand that we cannot continue “business operations as usual” in operating your properties. Some industries have been hit hard by consumer, business and governmental responses. Our building engineers are the eyes and ears of the behavioral changes that building occupants are showing. When a building is nearly empty because people are working from home, the costs of operations can be mitigated by planning and responding to that change. For example, several large tenants have recently ceased workplace activity resulting in an all but shuttered tenancy. Our engineers, working with our property managers, have found a way to save energy, waste disposal and other costs as those needs have been diminished – creating a short term response that will save our tenants costs until occupancy normalizes.
- Brokerage: Our brokers continue to look for way satisfy the needs of our clients. Though they are meeting face to face less, their activity in working with our customers to answer their space needs, investment requirements and real estate business solutions continues at a very high pace, with leases and sales contracts being negotiated and executed. Our team continues to prospect and show space (in small groups and strictly adhering to the six-foot distance rule). TIG brokers have prudently been advising clients to understand their real estate needs, with both current events and future needs being considered. TIG’s team stands by ready, willing and able to support our clients in this critical arena.
- Other Service Areas: TIG continues to serve its other clients in every service that TIG provides. We continue to develop properties that are in the queue with careful planning and revised investment strategies to take advantage of opportunities, while working to limit risks to the current viral environment. TIG continues to actively move forward in leasing and its developed properties and has recently consummated several leases and sale transactions. TIG also continues to act as expert witnesses, preparing diligently for the re-opening of the local judicial venues that have recently closed. We continue to provide entitlement services in preparation of the repopening of the jurisdictions that have closed during the viral time.
TIG’s Response to These Challenging Moments in Time
Tough times provide us all the opportunity to demonstrate the real spirit of a company. These are some of the ways we at TIG are putting our values into action:
- Putting Families First: Above all else, we are doing all that we can to support the health and emotional well-being of our team and their loved ones.
- Generosity, Despite the Instinct to be Self-Serving: TIG is committed to a belief that we can be a force for good at least in small ways, and we encourage our employees to find a way to give back to our community as this may likely cause disruption.
- Help Where We Can: TIG will continue to be available to ensure that our clients receive the help that they need whenever and however we can.
- We Intent to Do the Work We Love to Do with a Smile: No matter what we face, we still cherish the victory of accomplishment – this is the mantra of TIG, and though more difficult right now, we will focus on meeting the challenge before us with enthusiasm, diligence and a smile.
As information changes and the available database grows, we intent to communicate regularly and transparently in the days and weeks to come. We expect to be valuable business partners with you for the current times and for talents of our team to solve the problems before us.
In the same vein, we hope that you are healthy and sage and gratefully ask that you do your part to help flatten the curve and minimize the damage.
-John Walsh, CEO & Founder, TIG Real Estate Services, Inc.