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Energy efficiency critical to responsible management.

Words like "energy efficiency," "environmentalism" and "recycling" used to strike terror in the hearts of many business people. However, old fears that once equated environmental responsibility with higher costs are being put to rest. Becoming environmentally responsible is not only a good thing to do, it's the right thing to do - right for the environment and right for business.

At The Galbreath Company, we have found that a sophisticated approach to environmental concerns and energy efficiency can reduce overhead, heighten tenant satisfaction and increase competitiveness. A property that works more efficiently is a more valuable asset.

We work closely with ownership to develop a tailor-made strategy for positioning the asset and achieving the property's goals. A comprehensive, hands-on approach is essential for maximizing efficiency.

At 14 Wall Street, a recent addition to Galbreath's management portfolio,

efforts to increase energy efficiency ar well under way. We are working to create a property that is state-of-the-art in all respects. Building systems are being retrofitted, common area and tenant lighting upgraded, windows replaced and aesthetics improved.

Taking advantage of ConEdison's energy efficiency program, we have discovered numerous ways to lower overhead. For example, by changing building lighting alone, we estimate a $300,000 per annum savings. In addition, Con Edison reimburses a percentage of the capital investment for retro-fitting equipment, making energy efficiency more affordable. Depending on how much energy is saved by the improvement, reimbursements are offered up to 100 percent of the cost.

From a fiscal point of view, The Galbreath Company believes that it is almost irresponsible not to become energy efficient. Substantial savings are possible which help both owner and tenant.

Tenant satisfaction increases with building upgrades. Window replacement, for example, lowers energy costs, increases comfort and acoustics, and offers greater aesthetic appeal. System and lighting upgrades result in a more efficient and comfortable workplace.

Galbreath understands that an effective building energy policy is essential. Greater efficiency keeps annual tenant increases in check. Lower operating costs, combined with a high level of service, result in attracting and retaining more tenants. Environmental responsibility is indeed good business.
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Copyright 1992, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Author:Ritorto, Joseph N.
Publication:Real Estate Weekly
Date:Aug 19, 1992
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