2A — November 27 - December 10, 2015 — M id A tlantic
Real Estate Journal
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American Architectural Window & Door......... 1B Arrow Steel...................................................... 18B Azarian Realty Co.. ..................................... IBC-C Bennett Williams Commercial........................ 15C BL Companies.................................................. 11C Bohler Engineering. .......................................... 3C Bussel Realty Corp.......................................... 10A Capitol Aerials................................................. 17B Crystal Window & Door Systems..................... 9B DesignPoint........................................................ 8A E.B. Cohen......................................................... 4B Earth Engineering inc....................................... 6B Elliott-Lewis. ................................................... 10B Fowler. ............................................................. 22B Friedman LLP. .................................................. 3B Gerard Construction Corp.. ............................ 14C Hillcrest Paving & Excavating....................... 17A Hillmann Consulting......................................... 6C Hollenbach Construction................................... 8B Hutchinson Mechanical Services...................... 5B Integrated Business Systems. ........................ 23B Integrity Graphics............................................. 3A Investors Real Estate ..................................... 17A IREM................................................................ 21B Jardim, Meisner & Susser, PC....................... 12B Jewel Electric Supply CO................................ 17B JJ Operating.................................................... 10C Kaplin Stewart. ................................................. 9A Kay Realty. ...................................................... 17A Keast & Hood..................................................... 3A Keystruct Construction................................... 13B LEW Corporation. ............................................. 6A M. Miller & Son................................................. 5B March Associates Construction........................ 9C Marcus & Millichap.............................. 17A, BC-C Martin Architectural......................................... 2C Meridian Capital Group................................BC-A Metropolitan Valuation Services...................... 7A NAI Summit..................................................... 17A Nassimi Realty. .............................................. IC-C NK Architects.................................................. 11A NorthMarq Capital............................................ 4A P. Cooper Roofing. .................................. 7C, BC-B Poskanzer Skott Architects............................... 2B Premier Compaction Systems......................... 16B RD Management......................................... 12-13C Silbert Realty &Management Company.......... 5C Specialty Building Solutions........................... 14B Stark & Stark.................................................... 8C Subway............................................................... 4C The Henley Group.......................................... IC-B Total Cleaning Associates................................. 3B Vandemark & Lynch....................................... 11B Warner RE & Auction....................................... 4A MAREJ A dvertisers D irectory
M id A tlantic Real Estate Journal
M id A tlantic R eal E state J ournal Publisher .................................................................Linda Christman Publisher ....................................................................Joe Christman Senior Editor/Graphic Artist ..................................... Karen Vachon Production Assistant ........................................................ Julie King Associate Publisher ................................................. Alissa Aronson Associate Publisher .............................................. Barbara Holyoke Office Manager .........................................................Joanne Gavaza Contributing Columnist . ...................................... Frank Romeo, Jr. Mid Atlantic R eal E state J ournal ~ Published Semi-Monthly Periodicals postage paid at Rockland, Massachusetts and additional mailing offices Postmaster send address change to: Mid Atlantic Real Estate Journal, 312 Market St. Rockand, MA 02370 USPS #22-358 | Vol. 27 Issue 22 Subscription rates: $99 - one year, $198 - two years, $4 - single copy REPORT AN ERROR IMMEDIATELY MARE Journal will not be responsible for more than one incorrect insertion Toll-Free: (800) 584-1062 | MA: (781) 871-5298 | Fax: (781) 871-5299 www.marejournal.com
T he demand for urban space is continuing to surge among this new generation of consumers. Developers and building own- ers are continuing to pursue adaptive reuse opportunities as a solution to meet this demand and give new life to an ever-increasing inventory of abandoned and obsolescent structures. The practice of adaptive reuse is not new, but as urban areas have seen a resurgence of interest and popularity, it has become nec- essary for developers, owners, and investors to consider this as a viable option in order to get a foothold in these areas. While adaptive reuse is an at- tractive option due in part to the fact that it is generally a faster more cost effective way to get a ‘new’ building up and running, it also offers signifi- cant opportunities for energy efficiency and sustainability measures. Sometimes the building with the best opportunity to be considered “green” is one that is already built. At the most basic level, adaptive reuse is the greatest example of the recycling culture. Materials like wood and metals can be preserved, energy and re- sources necessary to demolish the building, like manpower, fuels, and CO2 emissions, can be conserved and environ- mental disturbances can be avoided. In some cases, these materials may, be of a higher, more sustainable quality than those that would be used for new construction. Operational Efficiency Over time, buildings are subject to performance deg- radations, changes in use, malfunctions or other system Materials and Energy Output The sustainability aspect of adaptive reuse Frank Romeo, Jr.
The views expressed by contributing columnists are not necessarily representative of the Mid Atlantic Real Estate Journal
issues. As a result, these sys- tems experience deterioration in function, an inefficiency in operation or unacceptable thermal conditions, which can account for a significant amount of wasted energy consumption. Considering that many buildings being repurposed were built well be- fore current energy efficiency codes were in place, sometimes simple fixes can restore the functionality and increase the energy savings with these large building systems. If you are retrofitting your building’s infrastructure, a simple tune up to get your systems back up and running effectively can pay for itself in one year. Easy Solutions with Quick Returns Some quick and easy sus- tainability upgrades with great ROI for adaptive reuse projects include switching existing light fixtures out for energy efficient LED lighting, using optimizing/program- mable building controls ceiling fans or installing low-flow fix- tures. Building envelopes can be retrofitted with building fabric, window shading/glaz- ing or air tightening measures to greatly reduce the heating and cooling system demands. Funding and Incentives There are many sustain- ability incentives and funding opportunities available which
can be utilized by developers, owners and investors. One funding source, dsireusa.org, lists over 2000 energy and sustainability grants, loans, and incentive programs by state and type, and also lists all of the regulatory policies for these improvements. In the state of New Jer- sey, public utility company, PSE&G, has created its own energy efficiency program which will benefit a variety of building types and customers who otherwise might not make the investment in energy effi- ciency measures due solely to the fact that they cannot afford the up-front costs, or the wait for ROI. The market demand for sus- tainably responsible space will continue to grow exponentially as more and more programs and incentives become avail- able for developers and own- ers. Greater tenant retention, the ability to demand higher rental rates and greater re- turn on assets and equity can all result from implementing sustainability measures in your adaptive reuse projects. Frank Romeo, Jr. is prin- cipal of Partner Engineer- ing and Science, Inc., a national engineering, en- vironmental and energy consulting firm serving the commercial real estate industry. n
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