Written by: Brian Wong
Waypoint and Colliers International have partnered to provide ENERGY STAR® benchmarking and certification services to their clients, an initiative which studies indicate achieves net operating income improvements and increases in asset value for commercial building owners. Benchmarking provides Colliers a clear picture of how its portfolio is performing and the insights to make the necessary operational improvements at the property-level. ENERGY STAR® certified buildings are verified by a licensed professional to score in the top 25% of peer buildings in their region based on energy consumption.
One recent example is 1325 J Street, a 19-story, 358,407 square foot office building located in downtown Sacramento, CA, which Waypoint assisted with ENERGY STAR® certification earlier last year for a score of 92. Great to see a federal building at the 92nd percentile for energy efficiency among its peers!
“As a trusted advisor to our clients, we constantly strive to reduce operating costs and improve services. Waypoint’s unparalleled technology, personal approach, and flexibility to work within business objectives has provided significant client value for us across the US. We couldn’t have delivered the same service offerings and cost savings without your support- Thank you!” – Jeff Gerwig, National Engineering Manager, Colliers International
Most studies show strong evidence that ENERGY STAR® certified buildings achieve higher rental rates, higher occupancy rates, increased asset values, and comparable construction costs to non-labeled buildings across multiple commercial real estate markets. According to ENERGY STAR®, certified buildings can achieve rents of 8% higher than non-certified buildings, and sell for approximately 15% higher market value per-square foot.
However, more research is needed on other topics, for example to differentiate the effects of specific levels of LEED certification or ENERGY STAR score, as well as other relevant metrics such as energy use intensity.
If you are interested in pursuing ENERGY STAR® for your building, Waypoint can assist with all steps of the process from benchmarking through certification. For more information on Waypoint’s ENERGY STAR® support services, contact info@waypoint-energy.com.