Commercial Real Estate Company Reduces Energy Use by 20%, Saves $6.5M Yearly

Shorenstein Properties LLC, a real estate firm that owns and manages high-quality office buildings across the country, announced that it reduced its energy use by 20% in 2016. The reductions have saved the company an estimated $6.5 million in energy expenses per year. The company is also saving $850,000 in annual operating expenses.

To achieve these milestones, the company implemented 43 efficiency projects across its portfolio. One such project was the redevelopment of the Ford Factor in Los Angeles, with energy efficiency elements that included making use of natural light. Other projects included updating the Denver City Center with energy efficiency and maintenance measures including systems upgrades (earning a LEED Gold certification, up from its previous LEED Silver) and the Santa Clara Towers in Santa Clara, CA. The Santa Clara Tower project included LED lighting retrofits to both exterior and interior lighting and a state-of-the-art parking lighting system. Additional improvements included a fully upgraded lobby in Tower II and elevator finish enhancements in both towers.

Shorenstein says it currently owns thirty-five LEED-certified buildings totaling fifteen million square feet ,and is a member of the DOE’s Better Buildings Challenge, committed to reducing energy use 20% by 2020

The real estate company says its energy management efforts have reduced operating expenses while improving tenant satisfaction.

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