Purchasing commercial property is a costly investment, so it needs thorough consideration before making a final decision. Therefore, investors, insurance lenders, portfolio lenders, and commercial mortgage-backed security (CMBS) lenders order property condition assessments (PCAs) to learn more about a property before entering into a purchase deal. 

Also called a commercial building inspection NJ, PCA is an examination of all systems and improvements of the asset. It is usually ordered as part of the due diligence process when a property changes ownership. A PCA may be requested by a lender before giving a loan or by a buyer before purchase. Some PCAs can be completed by a single commercial building inspector NJ or engineer, while others require the assistance of other experts such as a mechanical engineer or electrical engineer. The number of professionals handling the inspection will depend on the client’s demands, preferences, and needs.

Commercial building engineers check that the building is habitable, safe, and satisfies all legal criteria for occupancy. For example, they examine the heating and ventilation systems to make sure that the equipment that distributes the air throughout the building is operating effectively and safely. They will also assess whether the structure has the necessary fire protection routes and suppression systems in place, as required by NJ Administrative Code Title V, Chapter 70-76. Other matters that commercial building engineers are qualified to evaluate are structural integrity, electrical and mechanical system functionality, and local code compliance.

The ideal commercial building engineer will point out the property’s problems and the relative costs of fixing them. Property owners can also discover new options to prolong the life of their building systems and components, increasing their long-term return on investment.

Read more about commercial building engineers and the different establishments they can assess in an infographic by Lockatong Engineering.