Commercial real estate is a frenzied market. Now, commercial building owners and project champions have a new way to stand out from their competitors with a renewed and efficient building – to reap the rewards of this surging market.
In partnership with Northwest utilities and national energy experts, BetterBricks developed an online assessment tool called Spark, that estimates energy savings and real estate returns. The tool recommends an integrated package of measures, customized to each building, to achieve deep energy savings of 35% or more. It is available now at BuildingRenewal.org/login.
Energy modeling tools have historically been complex enough to require expert assistance. But the Spark Tool puts the power of energy modeling and a customizable report in your hands in about an hour. The Spark report includes estimated real estate returns, energy savings, suggested measures, and next steps. Before spending money on a traditional energy assessment, you can use Spark to determine if your building is a good candidate for a deep energy retrofit at no cost.
Spark was designed around a commercial real estate strategy called building renewal. The strategy uses an integrated design approach to achieve much larger energy savings than conventional energy retrofits, which focus on single systems. Spark integrates this approach with a real estate strategy to reveal not only the energy benefits, but the potential real estate returns of repositioning.
According to the the U.S. Department of Energy, buildings that achieve Leadership in Energy & Environmental Design (LEED) certification command at least a 15 percent higher rental premium and occupancy than non-rated buildings. Certified green efficient buildings of any kind have higher rents and occupancy than non-certified buildings. By implementing the measure package created by Spark and pursuing a building renewal strategy, existing buildings can achieve green certifications like LEED. Over 90 percent of local building stock has the potential for building renewal.