Healthy Air Episode #23

Episode #23

Making Air Quality a Priority Makes a Difference | Ted Bischak

In this episode, Ted Bischak talks about the biggest change and the opportunity in real estate today. He shares how landlords are responsible for preparing for the re-entry into the office space and how making air quality a priority makes a difference.

Ted Bischak is a Principal and Co-Founder of Ocean West Capital Partners. He is responsible for all Property Operations including, Asset Management, Property Management, Construction Management and Physical Due Diligence, upon acquisition or disposition, of managed assets. Prior to the formation of Ocean West Capital Partners, he was Senior Vice President of Asset Management for Maguire Properties, responsible for the firm’s entire portfolio of 21 million square feet of real estate assets. Before joining Maguire Properties, Mr. Bischak served as Senior Vice President for CommonWealth Partners, where, in partnership with the CalPERS pension fund, he was responsible for all operations activities, including in-house property management, tenant improvement, operational leasing, and asset management for the $1.5 billion portfolio and directed all property-level acquisition and disposition activities. Additionally, Mr. Bischak has held senior management positions with Tooley & Company and The Irvine Company, where he was a key member of the development team on over 6 million square feet of new office development product, multiple retail and hotel projects as well as 6,000 apartment units over his 35-year career in commercial real estate.

Keeping air safe has never been more important. Now that we are in the next normal, it is critical that the air we breathe in shared indoor spaces is healthy and safe for continued occupancy. Are we ready to face this challenge and mitigate airborne exposure risk indoors? Welcome to Healthy Air, a podcast that talks about the future of buildings and how to keep air safe and healthy. Keep up with the latest industry trends, latest technologies, and regulatory changes with your host, Erik Malmstrom, industry experts, and the SafeTraces team here on Healthy Air.

SHOW NOTES:

  • An overview of Ted’s background [1:20]
  • The biggest change in real estate [4:34]
  • The real opportunity in real estate today [6:31]
  • Post-pandemic re-entry to the office space [8:28]
  • Occupancy post-pandemic [11:35]
  • Indoor air quality valuations post-pandemic [20:05]
  • Validating air quality and costs to tenants [23:08]
  • Making air quality a priority makes a difference [27:43]

RESOURCES:

QUOTES:

The real estate industry has changed from buy and hold forever to exiting a project between three to seven years.”

“Post-pandemic, office buildings that will appeal more to tenants will have outdoor components.”

“The effort landlords will put into their buildings to ensure tenants feel safe post-pandemic will depend on their investment capabilities.”

“Educating the tenant base on what really matters in terms of air quality and safety within the office space will be a big job moving forward.”

“There are urban myths about indoor air quality and what constitutes high quality indoor environments that need to be addressed.”

“Landlords have to be able to validate their efforts in terms of air quality and safety to their tenants.”

“If you educate your brokers on your indoor air quality needs, you will differentiate yourself to your tenants.”

“The landlords that prioritize indoor air quality will see a value result.”

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