Financial Services News

Office Workers Vent on Extreme Temperatures, Messy Restrooms, Rodents and 'Dumpy' Workplaces

  - Philip Blumberg's Blumberg Capital Partners releases verbatim comments
  and regional comparisons from landmark office worker survey; 'I wish the
                           building had windows'

    CORAL GABLES, Fla., April 24 /PRNewswire/ -- Philip Blumberg's Blumberg
Capital Partners (http://www.blumbergcapitalpartners.com/), the U.S.
investment firm and commercial real estate investment fund, today released
verbatim comments and regional comparisons from its landmark survey of
office workers. The comments from the survey respondents highlight the
range of conditions under which U.S. office workers toil.

    In the survey, a full interactive version of which is now online
(http://blumbergcapitalpartners.com/index.php), workers note a lack of
basic needs, such as hot water in restrooms, clean carpets and comfortable
chairs, while others seek higher-end amenities like workout facilities,
free snacks and coffee, and nap rooms. Among the comments: "I wish the
building had windows," and "Build separate men's and ladies' rooms to
replace the unisex bathroom."

    The survey was commissioned to gauge the impact of office building
conditions on worker attitudes, productivity and motivation. Initial
findings, released in January 2008, unveiled a litany of common problems,
including extreme temperatures, insects, leaky ceilings, rodents and messy
bathrooms. The survey also found that a third of the workers have accepted
or left a job due to building conditions or amenities. Nearly half
described their office environments as "bland," "dumpy," or "stodgy."

    Blumberg Capital Partners today released verbatim feedback from the
survey -- culled from more than 5,000 written responses. The company also
posted its survey live (http://blumbergcapitalpartners.com/index.php) as an
interactive online tool for office workers to take the poll and see how
they stack up against national averages. The interactive survey and full
survey results
(http://www.blumbergcapitalpartners.com/Philip-Blumberg-Office-Results.pdf)
-- including a compilation of the verbatim comments
(http://blumbergcapitalpartners.com/BCP-news/?p=150) and regional
comparisons (http://blumbergcapitalpartners.com/BCP-news/?p=149) -- are
posted at http://www.blumbergcapitalpartners.com.

    "The companies of 'Corporate America' have long been judged on the
quality of work environments they provide to their employees," said Philip
Blumberg, Chairman and CEO of Blumberg Capital Partners. "The results of
our survey confirm that office conditions, indeed, directly impact employee
retention, recruitment, and productivity. That is why Blumberg Capital
Partners has spent the last 20 years providing the highest quality space
and a broad range of exceptional services to our corporate tenants and
their employees."

    In analyzing the office worker survey findings, more than 5,000
comments were collected and grouped under basic categories, such as layout
and decor, safety and security, and cleanliness. The comments were in
response to an open-ended question that asked respondents to list what they
would change about their office buildings. Some of the unmet needs as cited
by office workers:



    Layout and Decor
    "It's so boring, all blah colors, no fun.  It would be more fun to work if
     there was something going on besides gray carpet and bland off-white
     walls, with lots of cubicles."
    "Pictures are related to our products.  It would be nice to have better
     artwork."
    "I wish the building had windows."
    "Higher cubicle walls to help tone down extraneous noise."
    "Less clutter."

    Safety and Security
    "Security measures such as metal detectors and security guards.
     Bullet-proof glass would be an asset."
    "Add security guards; add fingerprinting to employment file."
    "Mace for protection."

    Comfort and Cleanliness
    "Area to lay down for a quick nap during lunch."
    "The ability to decide what kind of chair you use."
    "A good rug cleaning.  It has not been done for at least three years, and
     that is a lot of dirt ... ."
    "The carpeting in here is 30 years old, and it's making all of us sick all
     the time."
    "The lighting is very harsh and causes eye strain and migraines."

    Amenities
    "A gym and juice bar."
    "Free popcorn, coffee and fruit once a week."
    "Outdoor recreation area."
    "Better vending machine selection."
    "Free parking."

    Recycling/Environment
    "We would recycle and use cloth towels instead of paper towels."
    "Environmentally safe building materials and more energy-efficient
     appliances."
    "Elevators should be replaced with energy-efficient elevators."

    Bathrooms
    "Install extra bathroom for visitors."
    "Men's room instead of unisex bathroom."
    "Some of the bathrooms don't have hot water."

    Facilities
    "Take better care of the grounds, fix the kitchen, and make it not seem
     like a nursing home."
    "Fix the roof so it doesn't leak."
    "Replace broken skylights."

    The survey findings also were analyzed for regional themes, grouped by
Northeast, South, Midwest and West (based on how the U.S. census groups
states). Full regional results are posted on
http://www.blumbergcapitalpartners.com.

    According to the geographic analysis, respondents in the Northeast are
more satisfied that their buildings are acceptably maintained than workers
in other regions. Northeast office workers also are more likely to base
perceptions of their employers on office building conditions.

    For overall safety, a full 96% of Northeast office workers feel safe in
terms of their own personal security, higher than workers in the South
(90%) and Midwest (83%).

    Workers in the South, Midwest and West are more likely than workers in
the Northeast to seek improvements in their office decor. Workers in the
South (26%) also are more likely to encounter rodents or insects in their
office buildings, vis-a-vis their comrades in other parts of the country.

    ***

    Blumberg Capital Partners, which has long pursued a high-end office
building investment strategy, late last year formalized its market approach
with the rollout of Blumberg Premium Services, and hired a luxury hotel
executive to oversee the program. Buildings owned by Blumberg Capital
Partners typically include health clubs, conference facilities, advanced
wireless technology, and energy-efficient utilities, as well as private
suites for tenant members, akin to club-level suites commonly found in
five-star hotels.

    "While we have focused our investment strategy on buying, creating and
providing the highest-quality office buildings and amenities since we
launched our first fund almost 20 years ago, we've only recently formalized
this market approach under the Blumberg Capital Partners brand," said
Blumberg.

    ***

    The office worker survey was commissioned by Blumberg Capital Partners
and conducted by Fleishman-Hillard Research to gauge office workers'
attitudes and opinions about various aspects of their office buildings. The
findings are based on a national online survey of 500 adults who spend the
majority of their workday in one office building. The poll was conducted
from Dec. 14-17, 2007, using a nationwide Internet panel, and has a margin
of error of plus or minus five percentage points. The sample comprised 209
males and 291 females. Demographics were also collected for income level,
job type, age, region, education level and building type.

    Blumberg Capital Partners specializes in U.S. commercial real estate,
including acquisitions and divestments, market research, due diligence, and
the management and leasing of commercial properties. Its investment
portfolio has comprised some $500 million in commercial real estate assets.
The company's Premium Services Program formalized company founder Philip
Blumberg's strategy of investing in first-class office buildings and
introducing high-end amenities and services at its properties. From a
strategic foundation of a premium brand and strong investment track record
in commercial real estate, Blumberg Capital Partners is expanding into new
investment areas, including media and entertainment, European REITs and
distressed residential debt. For more information, visit
http://www.blumbergcapitalpartners.com.