Attention Commercial Building Owners: It's Time to Diet

Mar 8, 2010     Topics: commercial construction industry

Craig Noble

If the occupancy rate in your commercial building is falling, it may be due to the utility expenses your tenants are paying. Tenants lured away to occupy a similarly priced space that has been renovated to consume less energy enjoy an overall lower operating expense. Many Owners of multi-tenant retail centers, office buildings and industrial properties are using their cash on hand to invest in energy consumption renovations, and then marketing their buildings as less costly to occupy at the same market rental rate. And those that achieve a LEED designation are even more attractive to the growing number of environmentally conscious tenants. Owners of high energy consumption buildings that want to compete for tenants must choose to either reduce their rental rate or put your building on an energy consumption diet.

Tags: commercial building, energy consumption, industrial properties, LEED designation, office buildings, retail centers