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The Commercial Real Estate Markets in the US

Real Estate Market Intelligence Report: First Quarter - 2014
By Anthony J. Buonicore

Improvement in the commercial real estate market continues to be supported by the strengthening U.S. economy. Demand for office, industrial and retail space has steadily improved over the past couple of years and, with little new construction, vacancy rates declined across the vast majority of markets and have nearly returned to their historical averages. In addition, distressed property sales volume is now at its lowest level since 2008.
Read the full report here.

The Commercial Real Estate Markets in the US: Fourth Quarter - 2013
By Anthony J. Buonicore

Since the financial health of the commercial real estate market has a significant influence on investment in energy svaings improvements, BEPAnews has invited Anthony Buonicore, a well know expert on the commercial real estate market, to provide a column each quarter that reports on its status.
Read the full report here.

Resources for Energy Savings in Buildings

Financing for Multi-Tenant Building Efficiency: Why this Market is Underserved and What Can Be Done to Reach It
Over the past several years, energy efficiency financing has been widely viewed as a promising solution to reducing upfront cost barriers to energy efficiency investment. However, several markets, including commercial office markets and multi-family subsectors, remain stubornly hard-to-reach. Read more.

Realizing the Energy Efficiency Potential of Small Buildings
This study estimates that profitable investments in energy conservation can generate $30 billion in annual energy cost savings, improving the financial performance of millions of small businesses throughout the United States. Read more.

Fines and Violations:
New Energy Benchmarking and Audit Laws New local laws requiring building owners and property managers to disclose the energy consumption of their buildings. Author: Dr. William Shoard, Director of Engineering for Energy Efficiency Group in New York City.

HawkEye Green Jobs Index® Rises for the First Time in Two Years After seven consecutive quarters of decline.
The HawkEye Green Jobs Index®, published by Building Energy Performance News (BEPN), reversed the trend in the first quarter of 2013, and registered a 22% increase over the previous quarter. The index value at the end of the first quarter was 162.56; higher than at any time in the past 18 months. The Hawkeye Index tracks new openings for green jobs nationwide, and the latest results suggest that the prospects for green jobs are on the mend. Read more.

PACE Bill Summary and Full Bill 157
PROPERTY ASSESSED CLEAN ENERGY (PACE) PROGRAMS By law, municipalities may establish PACE programs under which they loan money to local residents and businesses for energy efficiency and renewable energy improvements. The loans are backed by a lien on the improved property that is treated like a property tax lien, other than not having priority over existing mortgages. Read more.

Underwriting Energy Efficiency Financing in the Innovative Connecticut PACE Program
Property Assessed Clean Energy (PACE) tax lien financing programs allow local governments, when authorized by state law, to fund energy efficiency improvements on commercial and industrial properties via an additional assessment (“benefit assessment”) on the property tax bill. Read more.
Authors: Anthony J. Buonicore, P.E., BCEE, QEP, Jessica Bailey and Kerry E. O'Neill

PACE Now: Enhancing Energy Efficiency, Lender Support Study -
December 2012
Enhancing the Commercial Real Estate Lender Consent Process for PACE Transactions PACE Now is a national non-profit corporation that serves as an impartial, fact-based advocate for property assessed clean energy (PACE) programs that promote and finance energy efficiency and on-site renewable energy upgrades to buildings. With the generous support of the Energy Foundation, Kresge Foundation, Rockefeller Brothers Fund, Tilia Fund, Johnson Controls, and others, we provide information, resources, and focus our expertise on solving challenges for a broad universe of PACE stakeholders that include state and local governments, PACE program administrators and service providers, government and trade industry organizations, financial firms, and other organizations and individuals concerned about reducing our nation’s dependance on fossil fuels. Read more...

ERNEST ORLANDO LAWRENCE BERKELEY NATIONAL LABORATORY
Evolution of the U.S. Energy Service Company Industry: Market Size and Project Performance from 1990-2008
The U.S. energy services company (ESCO) industry provides energy savings and other benefits to customers primarily through the use of performance-based contracting. This private industry, eveloped over the past 30 years, has largely been a successful model for the cost-effective delivery of energy-efficient technologies and services to public/institutional sector customers.

FannieMae: Multifamily Green Initiative (SECOND QUARTER 2012)
A core component of Fannie Mae’s mission is to support the U.S. multifamily housing market to help serve the nation’s rental housing needs, focusing on low- to middle-income households and communities.

The Real Estate Roundtable: Where Real Estate Meets Public Policy
On June 27, Jeffrey DeBoer, CEO of the Real Estate Roundtable (RER) urged Congress to adopt new policies to encourage energy efficiency in CRE. The RER represents owners, managers and developers of some of the most valuable buildings in the country. Their members understand investments, markets and buildings, and their testimony on June 27 articulates how vital EE is to their business. Read more.

The Towering Heights of Green Building
Long before he became the bleeding edge of the green building industry, David Borchardt, the Chief Sustainability Officer at Rockville, MD-based Tower Companies, earned his spurs cleaning up many of the most polluted Cold War weapons sites in the United States.

Sustainability and Cleantech Review: Canaccord Genuity May 2012
Last month, the White House released its “National Bioeconomy Blueprint,” which discusses a variety of measures and strategies to spur research and development efforts for the use of renewables and biological manufacturing methods.

Best Practices Guide For Energy Savings Performance Contracting (ESPC) In the Municipal, University, School, and Hospital Markets
This document has been prepared in response to an order by the Connecticut Department of Public Utilities Control (DPUC), now doing business as the Public Utility Regulatory Authority (PURA) as a subsidiary of the Department of Energy and Environmental Protection. Prepared by: Celtic Energy, Glastonbury, CT

United States Building Energy Efficiency Retrofits: Market Sizing and Financing Models DB Climate Change Advisors, Deutsche Bank Group
Upgrading and replacing energy-consuming equipment in buildings offers an important capital investment opportunity, the potential for significant economic, climate, and employment impacts. In the US alone, more than $279 bullion could be invested across the residential, commercial, and institutional market segments. . .

Better Buildings through Executive Action
Leveraging Existing Authorities to Promote Energy Efficiency and Sustainability in Multifamily, Residential and Commercial Buildings Presented by: The USGBC

DOE Releases New Version of Energy Modeling Software
In December, the U.S. Department of Energy (DOE) released a new version of EnergyPlus, a software tool that models the amount of energy needed to heat, cool, ventilate, and light buildings. This latest version, EnergyPlus v7.0, has 25%-40% faster execution speeds and can model a variety of commercial and residential buildings and HVAC systems.  EnergyPlus v7.0 is free of charge.  Read the DOE press release for more information.

DOE Announces Guide for 50% More Energy-Efficient Retail Buildings
The U.S. Department of Energy (DOE) recently announced the release of an Advanced Energy Design Guide (AEDG) for 50% energy savings in retail buildings.  The guide was developed to help architects, engineers, and contractors design and build retail buildings that have reduced energy and operational costs. Download your free copy today.

Download Free Handbook for Efficient Building Operations
The Lawrence Berkeley National Laboratory and U.S. Department of Energy have released the Energy Information Handbook: Applications for Energy-Efficient Buildings Operations. This free resource guides commercial building owners and operators who have limited experience with energy information systems in understanding how to analyze the energy use of buildings, and use their analysis to lower energy costs by operating buildings more efficiently. Download your free copy at http://eis.lbl.gov today.

Visit the CBC's new website today and read about the following
Spotlight on Data Access and Transparency: The DATA Alliance
Leaders in the commercial real estate industry have teamed up with energy efficiency and green building organizations to form the Data Access and Transparency Alliance (DATA) to address this significant barrier to energy efficiency in buildings. Read more...

Getting Ahead In The Commercial PACE Funding Race - Emerson M. Lotzia, Foley and Lardner LLP
Law 360D: Property Assessed Clean Energy (PACE) legislation has been enacted in 27 states and the District of Columbia and will offer significant opportunities for owners of commercial facilities (e.g., office, retail, and industrial) (owners), PACE lenders and bondholders (program lenders), Energy Service Companies (ESCOs), existing property lenders (banks) and third-party administrators (TPAs) to benefit from a tax lien financing program that provides a business owner the ability to install energy retrofit equipment and components that could possibly create cash flow from day one and allow the owner to pay for the retrofit as part of the property tax bill.

Business Case for Energy Efficient Building Retrofit and Renovation - McGraw Hill Construction
The opportunity for improving energy performance in the United States has never been greater. The Better Buildings Initiative proposed by theObama administration is the latest national effort drawing attention to our building energy consumption and ways we can help reduce it—and win at the same time.

Judy Woodruff interviews Bill Clinton about his new book
In an interview with Judy Woodruff on December 2, former President Bill Clinton discussed his new book, "Back to Work: Why We Need Smart Government for a Strong Economy," his new collaboration with President Obama to promote energy efficiency and create jobs, his 2012 predictions and his relationship with GOP candidate Newt Gingrich. Read the transcription of the interview here.

FLORIDA TAKES THE LEAD ON PACE
By Shelly Sigo, The Bond Buyer
The first-ever statewide PACE program, which already has $2 billion of validated bonding capacity from a Florida court, is on an aggressive track toward implementation with the selection of nationally recognized financial advisors.

Energy Efficiency Financing - Models and Strategies
Pathways to scaling energy efficiency financing from $20 billion to $150 billion annually. Prepared by Capital E for the Energy Foundation

What Have We Learned from Energy Efficiency Programs?
This report is part of a series being issued to facilitate improved energy efficiency financing programs that substantially increase the implementation of energy efficiency projects in the residential and commercial sectors. Read more . . .

LexisNexis(r) Environmental Law and Climate Change Community Podcast:
Mark Bennett, Leanne Tobias and David Freeman on ASTM's Building Energy Performance Assessment Standard
On this edition, Mark Bennett of Miller Canfield, Leanne Tobias of Malachite LLC and David Freeman of Paul Hastings LLC discuss ASTM's Building Energy Performance Assessment Standard (BEPA). They provide an overview of the standard, review how it affects the interest of real estate owners to undertake energy-efficient upgrades and how implementation is progressing.Copyright(c) 2011 LexisNexis, a division of Reed Elsevier Inc.

Seeking a Safe Harbor: Can ASTM's BEPA Help Sellers Avoid Liability?
How do you know if a certain commercial property is energy efficient or inefficient? If the building is LEED-certified, what exactly does that mean with regard to the building's energy use and costs? These days, potential buyers (and the lenders behind them) seek to understand the relative energy efficiency of a building beyond the fact that an EPA Energy Star plaque is hanging in the lobby.

Incorporating Energy Efficiency into Commercial Building
BEPAnews Editor’s Note: The full DRAFT study provides a section of particular interest to our readers that was based on interviews with various players in the CRE green building market. BEPAnews has extracted that portion of the study for this interim report.

New ISO Standard 50001 Introduction from Canaccord Genuity
This week we take a brief look at the upcoming introduction of a new ISO standard for energy management in commercial buildings, known as ISO 50001. We also review the American Institute of Architects’ architecture billings data for the month of April.

The Building Tracking Handbook
California Commissioning Collaborative Continuous Improvement for Every Building

There are Holes in our Walls
This report was prepared for Urban Green Council by Steven Winter Associates in April 2011. This study examines the impact on thermal performance of building envelope penetrations associated with distributed heating, ventilating, and air conditioning (HVAC) equipment such as ...

GREEN BUILDING BUZZ
- from Canaccord Genuity Read the recent and most interesting developments and news stories from the commercial construction, green building, and energy efficiency markets.

New ASTM Standard May Serve as Safe Harbor for Emerging Building Energy Labeling, Transactional Disclosure and Benchmarking Regulations
Authors: Mark J. Bennett Esq.
Anthony J. Buonicore P.E.
David J. Freeman Esq.
Read a summary of the report or Free Download - Entire Report Green Building Semimonthly
Canaccord Genuity talks about the importance of the new ASTM BEPA Standard E2797-11.

BNA, Inc: Environmental Due Diligence Guide
New ASTM Standard Aims to Provide More Accurate Measurement of Energy Use
The Standard Practice for Building Energy Performance Assessment for a Building Involved in a Real Estate Transaction (E2797-11) was released February 11, 2011 by ASTM International. It is intended to give users a common starting point . . .

Green Building Semimonthly
Canaccord Genuity talks about the importance of the new ASTM BEPA Standard E2797-11.

Opening the Door to Green Building
Attitudes toward green building in Alberta, Ohio and North Carolina Summary and Composite results by Jeff Anderle of Sustainable Rhythm.
For more information contact janderle@sustain-rhythm.com
Click here for the Summary
Click here for the Composite Results

Analysis of Cost and Non-Cost Barriers and Policy Solutions for Commercial Buildings
The following summarizes key barriers and recommendations from seven Commercial Buildings Consortium (CBC) working groups focused on market and policy topics: Read More.

Existing Commercial Buildings Energy Performance Ordinance Implementation Timeline

Massachusetts Proposes Energy Labeling Pilot for Commercial Buildings
An MPG Rating for Commercial Buildings: Establishing a Building Energy Asset Labeling Program in Massachusetts.This Whitepaper was prepared by the Massachusetts Department of Energy Resources. Free Download.

BEPAs: A Growing Opportunity for Environmental Consultants
Interest in the energy performance of commercial buildings is on the rise. Stories abound about trophy commercial properties like the Empire State Building undergoing “green energy makeovers.” In response to market forces, a growing number of environmental professionals are adding building energy performance assessments (BEPAs) to their tool boxes. read more...

Johnson Controls Building Efficiency Expert Call Presentation
Trends in Building Energy Efficiency: Investment, Technology and Finance Johnson Controls, Inc. has made forward-looking statements in this document pertaining to its financial results for fiscal 2011 and beyond, that are based on preliminary data and are subject to risks and uncertainties. View their presentation here.

Recovery Through Retrofit: The Department of Energy's BetterBuildings Program
The Yale Center for Business and the Environment is pleased to present the fourth annual installment of the Carbon Finance Speaker Series, Blueprint for Efficiency. This series of public webinars will feature the latest developments in energy efficiency policy, investment, technology, and community engagement, with a special focus on the Department of Energy's (DOE) BetterBuildings Program. Register today.

CalCEF Innovations
Energy Efficiency paying the way: New financing strategies remove first-cost hurdles. Over the past year, there has been a sea change in the public recognition of the importance of energy efficiency (EE) for homeowners, corporate leaders, policy-makers, and investors. There is little or no remaining debate that EE is the most cost effective and rapid strategy to accelerate sustainable buildings, businesses, cities, communities, and public policies. However, while the payback periods can be short and total economic benefits clear, EE improvement projects are often not implemented because of high up-front costs. Read More...

BEPAs: A Growing Opportunity for Environmental Consultants
Interest in the energy performance of commercial buildings is on the rise. Stories abound about trophy commercial properties like the Empire State Building undergoing “green energy makeovers.” In response to market forces, a growing number of environmental professionals are adding building energy performance assessments (BEPAs) to their tool boxes..

nbi - New Buildings Institute - Better Building Energy Codes Now: the Reasonable and Crucial Next Step
With today's conspicuous promotion of green building and sustainability, it is easy to forget that the bulk of commercial building design does exactly what it has always done: meet the local building energy code.

Green Building Semimonthly
The surprise of the past month wasn’t in the economic data, which we can charitably characterize as lukewarm this far into the recovery. Instead, the surprise was the stock market’s robust advance in what historically has been a troublesome month for stocks.

The roles of engineers are changing; but some things never change
In April 2010, Consulting-Specifying Engineer (CSE) conducted a comprehensive survey on a large sample of its total circulation of more than 40,000 engineers. The National Engineering Survey (NES) addressed the status, needs, and opinions of mechanical, electrical, plumbing, and fire protection engineers on a range of issues.

Green Building Semimonthly - Canaccord Genuity
Although second quarter earnings have been strong for many companies, the dog days of summer are likely to be volatile for stocks given the potential for more weak economic data.

Environmental Due Diligence Guide
Energy Efficiency Benchmarking: Due Diligence Moving into the Mainstream.

Sustainability in business today: A cross-industry view
What is the state of sustainability in business today: The answer, as suggested by Deloitte's multi-industry survey of 48 executives who oversaw sustainability efforts at their companies, may depend on how one interprets the results.

Federal Green Buildings
Statement of Kevin Kampschroer, Director, Office of Federal High-Perfromance Green Buildings at the US General Services Administration. Mr. Kampschroer discusses the progress and challenges of green building practices in the Federal Government.

The Green Building Boom Continues
Profiting from the Green Building Movement - Our research leads us to conclude that we are in the early stges of what will be one of the most significant secular trends in the global building / construction market - the "Green Building" (GB) movement.

Coming Soon to a Building Near You: Mandatory Energy Disclosure for Commercial Real Estate
In the near future, the owner of a commercial building in Minnesota may be required to provide a purchaser, lender or prospective tenant a detailed disclosure of the building’s energy performance. Such disclosure might even include a ranking or scoring of its performance in relation to other buildings in its peer group.

Green Building Semimonthly
"Unusually Uncertain" Those were the words Fed chief Ben Bernanke used last week to describe the outlook for the US economy. He went on to say that the Fed expects the economy to grow this year, despite a “somewhat weaker outlook.

In Full Disclosure
Clients could see an impact as governments mandate sharing energy-use information. Dan Spenogatti and Joshua Lehman, EBI Consulting.

Untapped Potential of Commercial Buildings
Energy Use and Emissions, Capturing Wasted Energy: Efficiency, Retrofits, Barriers.

What you don't know may be hurting your bottom line
All buildings, large and small, all have at least one thing in common, they consume energy. In these tough economic times, cost-saving measures are actively being sought by building owners. Read more...

Green Building Semimonthly
The stock market managed to regain some ground last week, despite news that monthly retail sales took a surprising dip in May, falling 1.2% (expectations were for a 0.2% gain). Some of the decline may have been attributable to a drop in purchases of energy efficient appliances, which had benefited in previous months from government tax credits, and poor weather, according to Vanguard.

Highlights from the Johnson Controls Cleantech Analyst Day
Johnson Controls is the world’s largest provider of energy efficiency solutions for commercial buildings and a leading provider of lithium-ion batteries for hybrid vehicles. Below we provide some of the energy efficiency-related highlights from the company’s analyst day presentation.

Green Buildings - A Niche Becomes Mainstream
Deutsche Bank Research Whitepaper
Striving for more efficiency is a feature of market economies, and the real estate sector in Europe is no exception. Nonetheless, with the scientific consensus on the global effects of CO2 emissions and the ensuing strong political support for reduced emissions the topic of increased energy efficiency levels has received a considerable push.

The Green Building Opportunity Index
Source: Cushman & Wakefield, NEEA's BetterBricks
This assessment by BetterBricks and Cushman & Wakefield is the first to provide weighted comparisons of top U.S. office markets based on real estate fundamentals and green development considerations.

The Green Scene Green Building Semi-Monthly Report
If you’re a “glass half-full” type of person, last week’s economic reports reaffirmed that the recovery, while fragile, is strengthening.

Leading companies partner to improve the energy and environmental attributes of leased space
The members of the Coalition for Energy and Environmental Leadership in Leased Space issued the following statement.

U.S. Securities and Exchange Commission Guidance Regarding
Disclosure related to Climate Change; Final Rule

The Securities and Exchange Commission
has voted to provide public companies with interpretive guidance on existing SEC disclosure requirements, as they apply to business or legal developments relating to the issue of climate change.

Valuing Building Energy Efficiency through Disclosure and Upgrade Policies
A Roadmap for the Northeast A Dunsky Energy Consulting Report in collaboration with Vermont Energy Investment Corporation.

Our Green Journey
Task Force to Mayor Newsom: "Your 7 keys to existing building efficiency in San Francisco."

Green Building Best Practices 2009
A unique 4-part webinar series on green building design and construction practices.

Green Building Index
Design Reference guide for non-residential new construction and residential new construction.

A Study: "Many Shades of Green: Diversity and Distribution of California's Green Jobs"
looked at the state of green jobs in the Golden State from 1995 to 2008 and found 45 percent growth in the number of green businesses in that time, and 36 percent growth in overall employment in green fields.

Market Trends: AEE Survey of the Energy Industry 2009
The Association of Energy Engineers (AEE), a nonprofit professional society of over 9,500 members, issued a survey to its members to determine state of the energy industry, technology trends, as well as policy and market trends.

Copenhagen Climate Update
EPA Declares C02 endangers human health.

Rethinking Percent Savings
The problem with Percent Savings and the New Scale for a Zero Net-Energy Future.

Harvesting Tax Benefits of Green Building Incentives
In the past two years, several federal tax incentives have been extended and enhanced for designing and constructing energy efficient buildings, both residential and commercial.

Improve Energy Efficiency in Buildings
This research was supported by the Real Estate Roundtable and the Building Owners and Managers Association and was conducted under the auspices of the Environment, Energy, and Economic Development Program (EEED) within RAND Infrastructure, Safety, and Environment (ISE).

Vice President Biden Unveils Report
Recovery Through Retrofit, a report that focused on expanding green jobs and energy savings for middle-class families.

California Building Standards
New California Building Energy Efficiency Standards to take effect as of January 1, 2010. Download or view the standards or individual sections of the Standards.

Energy Star Building Manual
A strategic guide to help you plan and implement profitable energy saving building upgrades

Guidelines for Energy Management
Energy management tools and resources to improve energy and financial performance

Commercial Building Design
Information about commercial buildings to help architects make informed decisions about energy efficiency during the design process

Green Buildings and Energy Efficiency
Guidance for the development of an effective green building policy

Industrial Plants: Best Practices
Ways to lower your plant energy bills

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