Real Estate Journal — Green Buildings — May 27 - June 9, 2016 — 13B
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M id A tlantic
G reen B uildings
Levin Management Sustainability efforts rise to the forefront in modernizing retail real estate
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government incentives make this type of project attrac- tive in New Jersey from a tax standpoint and via SRECs (sustainable renewable energy credits), which are market- traded certificates. Based on the positive experi- ence in Ewing, we are explor- ing additional solar opportuni- ties. A number of clients and larger big-box tenants have expressed interest in under- taking similar projects. LED lighting is not a new technology. What are the latest developments? We have been using LED
lighting on a small scale at shopping centers for years. However, until recently the technology had not advanced to the point where the bulbs could project adequate illumi- nation to be used high up on poles in parking lots. Now it has. We are in the process of transitioning all of the park- ing lot lighting at Warren Plaza in Washington, NJ. to LED – with great results. We are targeting several other common-area lighting projects at additional sites. LED bulbs are both energy efficient and long lasting. They
typically have a lifespan of four to nine years, depending on the specific use, which re- duces costs for both materials and maintenance. How has roofing changed to become more environ- mentally friendly? The good news in roofing is that the newest products have higher R-value than past gen- erations. R-value is the level of resistance to heat flowing through a given material. In short, roof systems today provide significantly better insulation – therefore reduc- ing a given property’s HVAC
loss via the roof. New code regulations re- quire commercial owners to use these high R-value mate- rials in new construction as well as re-roofing situations. In other words, this sustain- ability measure is a mandate – not a choice. The catch? They cost somewhere between $1.25 and $1.50 per square foot more than a typical re-roofing project. Yet while it may cost more, there are real advantages in terms of “green” property marketing. More and more continued on page 20B
O R T H P L A I N - FIELD, NJ — Sus- tainability efforts
have r i sen to the fore- front for the re ta i l rea l e s t a t e i n - dustry, with p r o p e r t y owners and ma na g e r s , along with
Robert Carson
their tenants, focusing year- round on incorporating planet- friendly efficiencies. In the fol- lowing interview, Robert Car- son, executive vice president of North Plainfield-based retail real estate services firm Levin Management talks about how certain property upgrades can position shopping centers as good corporate citizens. Has the focus on sustain- ability increased in recent years? Energy efficiency has always been a top priority for property managers, but typically with the goal of helping landlords increase the bottom line by lowering costs of heating, cooling and lighting buildings. The exciting part of what we are doing today stems from the fact that many of the new technologies being employed in this area are good for the environment. We know this has become increasingly im- portant to both the owners and tenants we serve. So yes, this issue is taking on added significance. What are the top three technologies that property managers like Levin are incorporating at client properties? We are seeing stepped-up activity in the areas of solar power, LED lighting and high- efficiency roofing. Let’s start with solar. Why should property own- ers consider this route? Levin actually is in the final stages of our first solar project, at Capitol Plaza in Ewing, N.J. With the help of Vanguard Energy Partners of Branchburg, N.J., a national solar construction firm, we are installing rooftop solar panels at 1001 Spruce Office Center, the property’s office component. We anticipate a significant reduction in annual utili- ty costs by supplementing electric power with a clean, alternative energy source. For property owners, certain
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