Posted on: September 26th, 2012 by admin@cpp
Companies that own Georgia commercial real estate may need to do more than just know how to create an improved energy efficiency plan for their property. According to Eliot Crowe, senior technical manager for PECI, companies need to look to make their building's energy performance improve.
When dealing with general additions to operations and maintenance sustainability, a building can cut more than 15 percent from energy usage, Crowe wrote for National Real Estate Investor. There are other ways to improve performance further, and companies shouldn't stop at just adding options. By utilizing the Energy Star rating system, companies can learn how much energy the property saves. When a property is purchased, there are laws in place to make this ? and related figures ? passed to the new owner.
Many companies are also becoming aware of the importance of sustainability when it relates to their general return on investment, Crowe explained. Property values, levels of occupancy and total rental prices all factor into sustainability and the understanding of this will only increase as time goes on. This hasn't had a complete effect yet, but there are signs throughout the market.
What property buyers look for
Those who purchase commercial real estate and want to increase their assets sustainability will likely look for a couple specific issues for their properties, he said. The first is the property's current level of energy performance. This not only includes how much a company will have to pay for a total operating cost, but also the potential it has to improve total rents. With these in mind, the property investor can then look at the total marketability a property has, as more efficient properties are more attractive.
After this, an investor wants to know what it will take to make the total energy performance better than the current level, Crowe noted. This can involve the cost of investment to make it as efficient as possible. However, this must be relative to a high return on investment.
Crowe added that beyond Energy Star's ratings system, there is another option that may be attractive to investors. The ASTM Building Energy Performance Assessment Standard can be used as a comparison to Energy Star. This is because it takes a specific method to make sure there is a clear figure for the energy used by a property, and how much it will cost in the end.
If you own or are considering a commercial building purchase and are interested in evaluating whether an energy system would have long-term benefits for your buildings, contact Daniel Levison or Furman Wood of Commercial Property Professionals. They can be reached at 404-848-1776.
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