Regions Northeast | New York
Feb 12, 2008
By: Barbra Murray, Contributing Editor
Real estate services firm Jones Lang LaSalle has just revealed that three office buildings it manages in New York City have attained the Energy Star rating.
The prominent properties--320 Park Ave (pictured)., 460 Park Ave. and 51 Madison Ave--account for a total of more than 2.5 million square feet.
The U.S. Environmental Projection Agency created the Energy Star program in 1992 as a means of encouraging businesses and citizens alike to reign in spending through instituting energy efficient practices. Four years later, the U.S. Department of Energy joined forces with the EPA on the endeavor. Commercial office properties became eligible to seek qualification for the label in 1999. In order to qualify for the Energy Star rating, properties must use approximately 35 percent less energy than average properties.
The designations represent a coup for JLL and the properties, as only five office facilities in Manhattan were granted the Energy Star label for 2007. The building at 320 Park has stood out above the rest, carrying the distinction of being the only New York City office property to attain the rating four times; in 2003, 2005, 2006 and now 2007.
While jumping on the green bandwagon is becoming increasingly popular--the number of commercial and manufacturing buildings that achieved the Energy Star label increased by 25 percent in the last year, according to the EPA--JLL has long made it a practice to assess the efficiency of all properties it takes under management and institute an improvement plan. In New York City alone, JLL provides leasing and management services for commercial real estate assets totaling nearly 45 million square feet.
"It is not necessarily difficult to bring a building to Energy Star level, but it does require planning, focus, analysis and some patience," Lance Carlile, senior vice president & regional manager with JLL, told CPN today. Upgrading a property in this sense, however, can be a commitment that initially requires monetary sacrifice. "The cost for bringing a building up to Energy Star level has not come down, but because the cost of energy has increased rapidly over the past few years, the payback period for investments in energy-saving technologies has gotten shorter, which has made those investments more attractive," Carlile noted. "But there are many changes in policies and procedures that do not cost anything that can also make a real impact on energy efficiency."
By: Barbra Murray, Contributing Editor
Real estate services firm Jones Lang LaSalle has just revealed that three office buildings it manages in New York City have attained the Energy Star rating. The prominent properties--320 Park Ave (pictured)., 460 Park Ave. and 51 Madison Ave--account for a total of more than 2.5 million square feet.
The U.S. Environmental Projection Agency created the Energy Star program in 1992 as a means of encouraging businesses and citizens alike to reign in spending through instituting energy efficient practices. Four years later, the U.S. Department of Energy joined forces with the EPA on the endeavor. Commercial office properties became eligible to seek qualification for the label in 1999. In order to qualify for the Energy Star rating, properties must use approximately 35 percent less energy than average properties.
The designations represent a coup for JLL and the properties, as only five office facilities in Manhattan were granted the Energy Star label for 2007. The building at 320 Park has stood out above the rest, carrying the distinction of being the only New York City office property to attain the rating four times; in 2003, 2005, 2006 and now 2007.
While jumping on the green bandwagon is becoming increasingly popular--the number of commercial and manufacturing buildings that achieved the Energy Star label increased by 25 percent in the last year, according to the EPA--JLL has long made it a practice to assess the efficiency of all properties it takes under management and institute an improvement plan. In New York City alone, JLL provides leasing and management services for commercial real estate assets totaling nearly 45 million square feet.
"It is not necessarily difficult to bring a building to Energy Star level, but it does require planning, focus, analysis and some patience," Lance Carlile, senior vice president & regional manager with JLL, told CPN today. Upgrading a property in this sense, however, can be a commitment that initially requires monetary sacrifice. "The cost for bringing a building up to Energy Star level has not come down, but because the cost of energy has increased rapidly over the past few years, the payback period for investments in energy-saving technologies has gotten shorter, which has made those investments more attractive," Carlile noted. "But there are many changes in policies and procedures that do not cost anything that can also make a real impact on energy efficiency."
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