Energy                                                                                      CUSHMAN & WAKEFIELD           ...
C&W                                                                                              Energy                   ...
C&W                                                                                                               Energy  ...
C&W                                                                                      Energy                           ...
C&W                                                                                  Energy                               ...
C&W                                                                                     Energy                            ...
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Cushman Wakefield Energy Sustainability Taskforce Newsletter August 2011


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Cushman Wakefield Energy Sustainability Taskforce Newsletter August 2011

  1. 1. Energy CUSHMAN & WAKEFIELD & SustainabilityT A S K F O R C E N E W S L E T T E R August 2011 EditionCushman & Wakefield’s (C&W) Energy and Sustainability Mission: As a world leader in real estate services,C&W provides clients with the highest quality and most cost-effective energy and sustainability solutions. Thisis accomplished by combining best practices, technical expertise, and market knowledge to enhance the overallperformance and value of our clients’ assets.Top NewsC&W Releases the 2011 National Green Building Opportunity IndexC&W, in collaboration with the Northwest Energy Efficiency In addition to the GBOI, C&W’s Valuation & Advisory,Alliance’s (NEEA) BetterBricks initiative, released the Research, and Corporate Occupier & Investor Services2011 Green Building Opportunity Index (GBOI). The up- (CIS) groups are partnering to produce Profile Reportsdated GBOI focuses on the primary factors that influence for the 30 markets analyzed. Each report details thethe successful development, retrofitting, leasing, and sales local trends, transactions, and recent market shifts thatof investment-grade, green office buildings in the 30 larg- impact sustainability in commercial office buildings. Ideal for investors, developers, asset managers, appraisers,est U.S. Central Business Districts (CBD). and public policy officials, the Profile Reports provide U PDAT e D F O r 2 011 The GBOI remains the insight into “on the street” realities and the competitive 2011 Green Building Opportunity Index only assessment tool to © natiOnal Overview: OffICe Markets The 2011 Green Building Opportunity Index remains the first office market assessment tool to provide landscape that affects property decisions. provide weighted com weighted comparisons of top U.S. office markets on the basis of both real estate fundamentals and green investment considerations. As in the inaugural 2010 version, the Index compares each market’s The GBOI and New York relative position to its peers in six categories: Office Market Conditions, Investment Outlook, Green Adoption & Implementation, Mandates & Incentives, State Energy Initiatives and Green Culture. For 2011, the Index has been enhanced by adding five new markets and refining the methodology parisons of top U.S. of- Top 10 CBD from and data inputs – yielding a more comprehensive view into the factors that influence successful Midtown and Seattle Profile development, retro-fitting, leasing and sales of investment grade green office buildings. Central Business distriCts: Green Building Opportunity Index fice markets on the basis the 2011 GBOI San Francisco — Reports–two of the top ten Midtown N.Y. — Washington, D.C. — Midtown South N.Y. — Los Angeles — Boston — of both real estate funda- 1. San Francisco Downtown N.Y. — 2011 markets listed at right– Portland — Seattle — Oakland — Denver — 2. Midtown NY San Diego — Chicago — mentals and green char are available for download at: Orange County — Austin — Houston — 3. Washington, D.C. Dallas — Minneapolis — Philadelphia — acteristics. It compares a Charlotte — Baltimore — 4. Midtown South NY Miami — Pittsburgh — Office Market Conditions Indianapolis — Investment Outlook Columbus — Green Adoption & Implementation Atlanta — Mandates & Incentives market’s relative position 5. Los Angeles Phoenix — State Energy Initiatives Cleveland — Profile Reports for the other Green Culture Detroit — Kansas City — 6. Boston 0 20 40 60 80 100 san francisco............... 100.0 Downtown N.Y. ............... 76.3 Chicago .......................... 68.6 Philadelphia .................... 60.6 Columbus ....................... 50.0 to its peers in six categories: Midtown N.Y. .................. 88.4 Portland .......................... 75.6 Orange County ............... 68.1 Charlotte ......................... 55.7 atlanta ............................ 48.9 eight top markets will be avail- Washington, D.C. ........... 83.7 seattle ............................ 74.2 austin ............................. 65.4 Baltimore ........................ 54.4 Phoenix........................... 46.6 Midtown South N.Y......... 82.0 Oakland .......................... 73.4 Houston .......................... 63.8 Miami .............................. 54.1 Cleveland........................ 46.2 Los angeles .................... 79.2 Denver ............................ 69.7 Dallas .............................. 62.9 Pittsburgh ....................... 53.3 Detroit ............................. 41.4 7. Downtown NY Boston ............................ 77.2 san Diego ....................... 69.3 Minneapolis .................... 62.4 Indianapolis .................... 51.1 kansas City .................... 36.3 Office Market Conditions, 2011 Green BuildinG OppOrtunity index: National Overview: Central Business Districts | Page 1 able in September and can be 8. PortlandInvestment Outlook, Green Adoption & Implementation, ordered on an individual or 9. Seattle 10. OaklandLocal Mandates & Incentives, State Energy Initiatives, subscription basis. Additionaland Green Culture. As a tool to examine the overall markets will be added based onclimate for green building, the Index assists a broad client demand.spectrum of professionals in determining where favor- For more information, contact Theddi Wright Chappell,able conditions exist for green building activity, and aids National Practice leader of C&W’s Green Advisory Practice ininvestment and policy decisions. Valuation & Advisory at
  2. 2. C&W Energy & Sustainability TASK FORCE NE WSLET TERC&W Participates in USGBC Launch of Volume Certification Program for Operations & MaintenanceAt the BOMA International Conference on June 27th, USGBC held a press conference to announce the launchof its LEED Volume Certification Program for Operations & Maintenance. As the only real estate servicesprovider to participate in the pilot program (certifying 8 million sf at 18 properties in January 2010), C&W wasinvited to participate and our own John Scott, Director of Property Management, spoke on C&W’s behalf.C&W also acted as a program reviewer for the formal Volume Certification Program. USGBC’s LEED VolumeProgram is for organizations planning to certify a large number of design and construction projects or existingbuildings. It works by establishing verifiable guidelines that streamline the certification process withoutcompromising LEED’s rigorous standards. This new program dramatically increases the efficiency of LEED certi-fication and lowers the associated costs. A case study on C&W’s success in the pilot program can be found and Achievements2011 C&W Environmental Challenge WinnersOn Earth Day 2011, John Santora, CEO of CIS, announced the winners of the second annual C&W EnvironmentalChallenge, our award-winning, innovative program that encourages superior environmental efficiency in our man-aged portfolio. Awards were given in three categories: (1) Greatest Overall Improvement; (2) EnvironmentalImprovement – for properties that made greatest percentage gains in 2010 over the 2009 baseline for energy,water, and waste reductions; and (3) High Performance – for the properties that demonstrated the highestENERGY STAR rating, the lowest indoor water consumption, the highest diversion rate, and are LEED certifiedfor Existing Buildings. Each winner is a leader in promoting sustainable property operations and demonstratinghow C&W adds value to our clients’ properties.Grand Prize for Greatest Overall Improvement C&W Environmental Challenge Wins Award CoreNet Global honored the C&W Environmental Adobe Systems Incorporated Challenge by naming the program winner of its 2011 321 Park Avenue, San Jose, CA, Sustainable Leadership and Design Award at the managed by George Denise CoreNet Global Summit in Chicago in May 2011. Environmental Improvement C&W is proud that the program was recognized for its contribution to improving energy efficiency in the Winner: One North Broadway, White Plains, NY, real estate industry and hopes that it will serve as owned by Heyman Properties, LLC., managed model for more progress in the coming years. by Peter Howard First runner-up: MetLife property at 1301 From left: Ray Dunn, Vice Dove Street, Newport Beach, managed by President of Tandus (Sponsor); Gary Mull John Santora, CEO of CIS accepting the award; and Second runner-up: JP Morgan/Acquiport Steve Quick, VP & General Unicorn, Inc. property at 300 Unicorn Park Drive, Manager EMEA for Johnson Woburn, MA., managed by Carol Macleod Controls Inc. (Sponsor) High Performance Winner: MetLife property at 5950 Airport Road, Oriskany, NY, managed by Ron Porter First runner-up: Investors, LLC property at 555 17th Street, Denver, CO, managed by Patrick Finé Second runner-up: Metro Holdings, LP property at 300 Prairie Center Drive, Eden Prairie, MN., managed by Beth Borich 2
  3. 3. C&W Energy & Sustainability TASK FORCE NE WSLET TER2011 CIS Global Best Practices Competition – Sustainability winnerThe winning submission in the Sustainability category in the 2011 C&W CIS Global Best Practices Competitionwas “Greening the UK Property Management Portfolio” submitted by Kevin Sensier, Peter Drabble, JulieHogarth, and Ian Davies. The team’s successful implementation of the BREEAM In-Use standard across the UKProperty Management Portfolio has resulted in more than 200 draft assessment surveys completed to date. Thesesurveys inform property managers of what steps to take to improve efficiencies, lower costs, and become moreenvironmentally-sensitive. The runner-up was “Using Current Systems for Combined Heat & Power,” submitted byJose Osinde, the Chief Engineer at 505 Park Avenue in New York, which described innovative, low-cost methods toimprove domestic hot water heating, steam condensate pre-cooling, and condenser water cooling.BOMA TOBY® Awards winnersMetropoint 600 in St. Louis Park, MN, owned by BPG Properties, Ltd., was awardedBOMA’s prestigious The Outstanding Building of the Year® (TOBY®) Award in theRenovated Building category at the June 2011 BOMA International Conference.Metropoint 600 was LEED certified through the C&W pilot Volume Program and hasbeen a top performer in C&W’s Environmental Challenge. The TOBY® Award rec-ognizes properties that exemplify superior building quality and excellence in buildingmanagement. Two other C&W managed properties received top regional TOBY®awards. The Wells Fargo Home Mortgage Campus in Minneapolis, MN won theCorporate Facility Award in the Midwest Northern Region, and the BAC Colonnade Metropoint General Manager KevinRotunda in Coral Gables, FL, owned by Deka USA Colannade LLP, won the Historical Kurpierz, at right, and C&W PortfolioBuilding Award in the Southern Region. Manager Julie Samuelson, accept the TOBY® award from Peter Leahy of Kimberly-ClarkC&W’s John Scott Elected to BOMA International Executive Committee Professional, the sponsor of the award.John K. Scott, Florida Director of CIS and co-chair of C&W’s Energy & Sustainability Task Force, was electedto the BOMA International Executive Committee for 2011-2013. The Executive Committee develops the stra-tegic direction and policies for the association, and works with BOMA International officers and executivestaff to maximize the effectiveness of the organization.Project And Property Spotlight Two properties owned by Deka Immobilien and managed by C&W marked significant achievements. Century Plaza II, a six-story, 101,841 square foot Class A office building located in San Jose, California, earned the LEED Gold for Existing Buildings O&M certification in August 2010. The BAC Colonnade building in Coral Gables, FL achieved the BOMA 360 designation in June 2011. Both properties deployed a number of similar strategies in attaining these achievements, includ- ing retrofitting lighting and water fixtures, improved irrigation systems, and enhanced HVAC and lighting monitoring and control. BAC Colonnade reported $200,000 in electricity cost savings in 2010 through its efforts.San Jose Mayor Chuck Reed and Northern California USGBC Executive Director Dan Geiger recognized Century Plaza II’s achievement of LEED Gold at a PlaqueCeremony at the end of April 2011. Spencer McCann, of Real Estate Capital Partners, holds the LEED Gold plaque on behalf of Deka Immobilien.The Mack Cali and Sullivan & Cromwell property at 125 Broad Street in New York City, a 1.3 million squarefoot commercial office condominium built in 1970, achieved LEED Silver for Existing Buildings O&M certification.The Spitzer Engineering building located at 2001 K Street, NW in Washington D.C. achieved a LEED Goldcertification for Existing Buildings. The 210,000 sf multi-tenant building, built in 2001, houses C&W’s Washington DCoffices among a number of other tenants. C&W hosted a celebration on July 21st to commemorate the achievement.The Bank of New York Mellon (BNYM) Utica Operation Center earned an ENERGY STAR label with a scoreof 76 – a great achievement for a data center!Adobe System’s property in Boston earned an ENERGY STAR score of 97 in its first year of operation as a newbuilding. The property is also diverting an impressive 82% of their total solid waste, far beyond the diversion rates ofBoston (11%), Waltham (17%), the state of Massachusetts (26%), and the national average (28%). 3
  4. 4. C&W Energy & Sustainability TASK FORCE NE WSLET TERTechnology NewsTwo notable developments to report courtesy of C&W’s involvement with the Department of Energy’s (DOE)Commercial Real Estate Energy Alliance (CREEA):DOE to Release Decision Tool to Spur Energy Efficiency InvestmentDOE plans an August 2011 release of its Buildings Performance Database, an energy efficiency investment decisiontool that combines financial and data analysis tools with a database of building information. The building data areassembled from more than 40 sources, including utilities across the country and the CBECS data (discussed inthe Policy Corner section), and includes commercial, residential, retail, office, industrial, and hotel building energyuse and characteristics. The Database allows quick and robust comparison of energy investment decisions againstactual data from similar building types, rather than relatively lengthy, expensive single-building projections andanalyses in current practice. DOE indicates that it will be a powerful tool designed to align with financial institutionassessment methods to spur funding for capital investments in energy and sustainability projects. We anticipatethis tool to accelerate the adoption and implementation of larger capital retrofits to improve energy efficiency.C&W’s Task Force will explore how we may benefit from this tool and will share news of its release.Advanced Roof-top Unit SpecificationsA working group comprised of building owners and operators in the Commercial Building Energy Alliance (CBEA)and industry partners from the commercial, retail, and industry sectors, with support of the DOE, have devel-oped specifications to help speed the introduction of advanced, reliable, energy-efficient, and competitively pricedroof-top air conditioner units (RTUs) that meet CBEA member performance requirements. RTUs built to thesespecs will be as much as 60% more efficient than existing models. The DOE is continuing coordination of an ef-fort to foster demand for these units, thereby enhancing their accessibility. The C&W Sustainability StrategiesTeam will host an information webinar on these DOE specifications on Wednesday, August 17th at 3pm. for more information on the webinar.Global HighlightsC&W UK a Founding Member of the International Sustainability AllianceIn late 2010, C&W UK helped launch the International Sustainability Alliance (ISA), the onlymember-owned international sustainability benchmarking organization. The ISA enablesC&W properties to measure and benchmark the sustainability performance of both ourown and our managed client properties in Europe against thousands of other buildings ofall types in the region, using a standard set of sustainability KPIs developed by ISA.Outstanding Project in Italy C&W professionals in Italy played an instrumental role in the development of the new 3M Italia headquarters’ building, winner of the 2011 MIPIM ‘Green Building’ Award. The MIPIM award salutes exemplary projects in six real estate categories, including: Business Centers, Green Buildings, Hotels and Tourism Resorts, Refurbished Office Buildings, Residential Developments and Futura Projects. C&W Italy advised on the entirety of the project, including: sale andleaseback, relocation, project monitoring of the development, space planning, interior design, and project manage-ment. Sustainability advice was fully integrated across these services. 4
  5. 5. C&W Energy & Sustainability TASK FORCE NE WSLET TERPolicy CornerC&W Endorses National Policy ActionsThe fate of the package of energy efficiency-focused legislative measures proposed asthe “Better Building Initiatives” by President Barack Obama on February 3, 2011 remainsuncertain with the budget-constrained landscape in Congress/Washington, D.C. However,C&W and other building energy efficiency advocates and members of the real estatecommunity have taken action to advance adoption of one important aspect thatwould benefit the commercial real estate industry – the reform of the Section179D tax incentive for commercial building energy efficiency. On May 5th, aletter that included C&W endorsement was sent to key Senate offices to supportrevisions to the 179D tax code law, including: using a building’s baseline energyconsumption to gauge improvements instead of restrictive ASHRAE code;linking the incentive to the amount of energy saved; and allowing tenants toaccess the incentive for making improvements to spaces within a building.C&W also endorsed a letter to Congress to counter budget cuts that wouldprevent funding of the current Commercial Building Energy ConsumptionSurvey (CBECS) data collection process. CBECS gathers data onenergy use from a statistical sample of buildings every four years,and is the foundation of the ENERGY STAR Program and energyportions of the LEED rating system. These programs are currently using 2003 CBECS data due to statisticalerrors associated with the 2007 process. This older data does not represent significant energy efficiency andtechnological progress made in the last decade and therefore does not accurately represent the current state ofthe industry. The letter was sent to leadership on the Senate and House Appropriations Committees on May 19th.To obtain copies of these letters or to learn more, contact cissustainability@cushwake.comIncentives for Renewable Energy and Energy Efficiency ProjectsThe Database of State Incentives for Renewables & Energy (DSIRE) ( is a comprehensivesource of information on federal, state, local, and utility incentives that promote renewable energy and energyefficiency in the U.S.Looking Ahead: Calendar Events & AnnouncementsDOE/CBEA webinar: “Financial Incentives for Energy Efficiency in Commercial Buildings” – August 3rd at 3pm ET.Register at: Sustainability webinar on National HVAC Recycling program – August 10th at 1pm ETC&W Energy & Sustainability Task Force Committee call – August 15th, 4pm ETC&W Information Webinar on DOE CBEA Roof Top Unit (RTU) and lighting specifications – August 17th at 1pm ETUSGBC Emerging Professionals Meeting at C&W NYC Headquarters, 1290 Avenue of the Americas – September 6th,6:30-8pmGreenbuild International Conference and Expo 2011 – October 4-7th, 2011, Toronto, CanadaInstitute of Real Estate Management (IREM) Fall Leadership Conference – October 11-15th, San Diego, CAInternational Facility Management Association (IFMA) World Workplace 2011 Conference and Expo –October 26-28th, 2011, in Phoenix, AZFollow C&W sustainability on our Twitter account: @cushwakegreenContact for more information on any of these events. 5
  6. 6. C&W Energy & Sustainability TASK FORCE NE WSLET TERLearn more about C&W’s sustainability initiatives in managed propertiesC&W’s Energy & Sustainability Task ForceC&W’s Energy and Sustainability Task Force focuses on building operations and maintenance issues that optimizeenergy consumption, water use, and waste reduction while reducing operational costs and enhancing property value.The Task Force is comprised primarily of professionals from C&W’s Corporate Occupier and Investor Services.For more information, email Task Force Co-Chairs Steven Ring or John Scott at ENERGY@cushwake.comC&W’s Sustainability Strategies TeamC&W’s Sustainability Strategies Team develops and leads the implementation of programs, tools, and resourcesdesigned to incorporate environmental best practices that promote the efficient use of natural resources andcarbon footprint reduction into facility and property management. The Team manages such programs as C&W’sLEED EB Volume Certification Program and the C&W Environmental Challenge, in addition to leading C&W cor-porate sustainability initiatives.For more information email Jeffrey Domanski at jeffrey.domanski@cushwake.comLearn more about C&W’s Green Advisory PracticeC&W’s Green Advisory Practice is a globally-integrated specialty group supporting the firm’s Valuation & Advisorydivision. Employing innovative valuation approaches and best practices, the group identifies and quantifies thebenefits of sustainable real estate strategies, demonstrating unrealized value potential to clients. Leveraging thefirm’s pre-eminent sustainability service platform and Valuation & Advisory, the group provides service offerings tomajor corporations, lending institutions, and investment entities, including: cost-benefit analyses; due diligence forgreen acquisition, disposition and retrofit projects; feasibility and market studies for green projects; and mortgagelending appraisals on green buildings.For more information email Theddi Wright Chappell at 6