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Leaders in Commercial Real Estate

MAY/JUNE 2008

BOMA’s Green Guide

See Who’s Transforming the Marketplace

Plus: Driving Value in Existing Buildings – 2008 Conference Preview The Politics of Healthcare Real Estate BOMA/Kingsley Report on Human Capital Management


CONTENTS FEATURES

COLUMNS

24 BOMA’s Green

6

Chairman’s Message

See the sustainability leaders who are transforming the marketplace and how they’re doing it, plus tips on creating an energy awareness program.

8

Legislative Update

May/June 2008 Volume 4, No. 3

5

Three days and three reasons – why you have to be in Denver.

Guide

Could an extended energy deduction and leasehold depreciation stimulus be on the way?

10 State and Local Update

BOMA local associations turn off the lights, and counties go green.

35 Conference preview

Driving value in existing buildings … at BOMA International’s Conference and The Office Building Show.

14 Codes and Standards Update News on the ADA and green building standards.

18 Around the Industry

50 BOMA goes to Capitol Hill Laura Horsley BOMA members bring real estate’s issues before legislators.

52 Enhance your business case for

energy-efficiency improvements

Deborah Cloutier Make smarter, more-informed investment decisions regarding energy-efficiency improvements.

BOMA honored for sustainability excellence, Cat Rental Power joins partnership program and much more.

76 Leading the Way CBRE’s Sally Wilson is proud of her “green knights.”

78 Sector Watch Stephanie Oppenheimer The healthcare debate – medical office building perspective.

86 Trends Tracker

57 Special feature:

Stuart Brodsky Benchmark your way to energy efficiency.

Human capital management – the battle for talent heats up.

92 Green Scene

BOMA•Kingsley Report

Tom Seitz Developing your green cleaning program.

Call for Nominations: Vice Chairman and Executive Committee Members BOMA International’s Nominating Committee is seeking candidates for the position of vice chairman and for five members of the Executive Committee to the Board of Governors. For further information, please contact Bob Denney, chair, BOMA International Nominating Committee, c/o Ann Coslett, BOMA International, 1101 15th St., NW, Suite 800, Washington, D.C. 20005, telephone: (202) 326-6325; fax (202) 408-2699; e-mail: acoslett@boma.org.

For advertising rates and information, contact Paul Hagen at Stamats Business Media 319-364-6167, ext. 2227 About the Cover: Denver Place, managed by LBA Realty, won the 2006 Earth Award for its energy-efficient building design and operations. Leaders in Commercial Real Estate

98 Research Corner Kurt Padavano Benchmarking provides meaning, not just measurements.

104 Eye on Education

Set your target for achieving sustainability.

111 Buyers’ Guide

Check out the latest in “green” industry products and services.

BOMA has moved! BOMA International’s new headquarters is located at 1101 15th St., NW, Suite 800, Washington, D.C. 20005.

Contributing Editors: KAREN W. PENAFIEL, CAE, RONALD BURTON, , JAMES COX, HELEN MAPLESDEN, EMILY NADEN, LORIE DAMON, PH.D., BRENDA HENDERSON Designer: Grady Zangerle

Publisher: Lisa M. Prats, CAE

Published by: Building Owners and Managers Association (BOMA) International

Editor: Laura Horsley Associate Editor: Lindsay Tiffany

Chairman and Chief Elected Officer: Brenna S. Walraven, RPA, CPM, USAA Real Estate Company, Irvine, Calif.

Chairman-Elect: Richard D. Purtell, RPA, Grubb & Ellis Management Services, Inc., Cincinnati, Ohio Vice Chairman: James A. Peck, RPA, FMA, CBRE/New Mexico, Albuquerque, N.M. Secretary/ Treasurer: David M. Stucky, City of San Diego, San Diego, Calif. President and Chief Operating Officer: Henry H. Chamberlain, CAE, APR, BOMA International, Washington, D.C.

Volume 4, No. 3 The BOMA Magazine May/June 2008, (ISSN 1532-4346) Copyright 2008, is published bi-monthly in January/February; March/April; May/June; July/August; September/October; and November/December. The BOMA Magazine is published by the Building Owners and Managers Association (BOMA) International, 1101 15th St., NW, Suite 800, Washington, D.C. 20005. Telephone 202-326-6300; Fax 202-326-6377; www.boma.org. Periodicals Postage paid at Washington, D.C. and additional mailing offices. POSTMASTER: Send address changes to: The BOMA Magazine, Attn: List Department, 1101 15th St., NW, Suite 800, Washington, D.C. 20005. • The cost is $75 a year for subscribers and $50 a year for BOMA International members. • Publication of advertising should not be deemed as endorsement by BOMA International. The publisher reserves the right in its sole and absolute discretion to reject any advertisement at any time submitted by any party. Material contained herein does not necessarily reflect the opinion of BOMA International, its members or its staff. Undeliverable U.S. copies should be sent to The BOMA Magazine, Attn: List Department, 1101 15th St., NW, Suite 800, Washington, D.C. 20005.

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Chairman’s Message BOMA May/June 2008

Three Days and Three Reasons that will Change Everything You’ve heard the expression, “What a difference a day makes.”

Well, let me tell you, “What a difference three days make” when you attend the BOMA International Conference and The Office Building Show in Denver this June 22-24. Three days that I know will make a huge difference to you and to your business. Everybody knows about my passion for sustainability, and this year’s convention is certainly the “greenest” yet – but the depth and value of the convention programming is unprecedented. First, take the general session on June 23. I am honored to be joining sustainability leaders – Rick Fedrizzi, president and CEO, USGBC; Catherine Greener, vice president of consulting, Saatchi & Saatchi S; Ira Magaziner, chairman, Clinton Climate Initiative; and Sally Wilson, global director of environmental strategy, CBRE – for Monday’s general session, “Market Transformation: Leadership + Operational Excellence = Green ROI.” The visionaries on this panel are setting the standards for excellence in green management and operational practices by proving that Green ROI is not only attainable but is mandatory for organizations that want to be competitive going forward. In addition, this year’s conference will provide you all of the latest information on green certifications, such as LEED for Existing Buildings version 2008 and Green Globes, as well as give you the low- and no-cost ways to execute on the business case for sustainability and energy efficiency. But to excel in this market, achieving sustainability is not enough. That’s why we’ve designed education sessions featuring the property professionals who are driving value in their buildings. More than 40 educational sessions will focus on five critical tracks – Achieving Sustainability, Building a High Performance Team, Enhancing Asset Value, Exploring New Business Opportunities and Optimizing Technology – ensuring that whatever strategies, tools or information you need, we’ve got you covered. Thirdly, The Office Building Show is not your typical tradeshow with hard-selling vendors intimidating you as you walk the aisle. It’s the marketplace for new ideas

and new approaches, where you can talk to the problemsolvers who actually help you find the solutions to your most challenging situations. I can tell you from my personal experience, I have learned so much from walking the aisles of The Office Building Show and making the connections with the leading companies that have helped me bring the right solutions and the right service provider partners to USAA Real Estate Company. At the end of the day, the general sessions, the speakers, the education, the tradeshow, the TOBY Awards, the three days you spend at the BOMA Convention are all about driving the ultimate value, not only for you, but for your company, your building occupants and the environment. “Finally, I want to thank all of you for supporting me during my chairmanship. It has been a thrilling year for all of us. I came into office as we celebrated BOMA’s Centennial year, and as I step down in June as we complete BOMA’s 101st year, it will be with great pride of the achievements we accomplished together over the past several months – from launching the 7-Point Challenge to introducing vital new education with Foundations of Real Estate Management to reaffirming BOMA as THE sustainability leader among real estate associations with a second consecutive Partner of the Year nod from ENERGY STAR. Thank you all! Next month I leave you in the very capable hands of Dick Purtell who has some exciting plans for the year ahead. I look forward to continuing to work closely with BOMA to advance our great industry. See you in Denver!”

Brenna S. Walraven, RPA, CPM Chairman and Chief Elected Officer


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Legislative Update BOMA May/June 2008

House votes to extend commercial buildings’ energy deduction

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n February 27, the House of Representatives passed H.R. 5351, the Renewable Energy and Energy Conservation Tax Act of 2008 (without much support by Republicans), by a vote of 236-182. The legislation includes an array of tax incentives for the production of renewable energy and energy conservation, including a five-year extension of the $1.80/ sf deduction for energy-efficiency retrofits for commercial buildings. The bill now faces an uphill battle in the Senate. To pay for the incentives, H.R. 5351 would impose a tax on “big oil”; the majority of the revenue would be raised by repealing the tax code Section 199 manufacturing deduction for certain oil and gas producers. Republicans in the Senate have vowed to fight this, and the White House has also threatened to veto the bill if it lands on President Bush’s desk. In the Statement of Administrative Policy, the Office of Management and Budget states: “This targeted tax increase would reduce the Nation’s energy security rather than improve it. Industries should be taxed on a level playing field, and that field should be leveled by lowering rates, not by raising them …” This energy-efficiency tax deduction was first passed by Congress as part of the Energy Policy Act of 2005 (EPAct 2005). Specifically, the bill provides for an accelerated deduction of up to

$1.80 per square foot for energyefficient upgrades that achieve a 50-percent reduction in annual energy cost to the user, compared to a base building defined by the ASHRAE/IESNA 90.1-2001 Standard. Partial credit of up to $0.60 per square foot is also available for upgrades to each of the three energy-using subsystems of the building: the lighting; the heating, cooling, ventilation and water heating systems; and the building envelope. The incentives apply to energyefficient upgrades placed in service from Jan. 1, 2006-Dec. 31, 2008, in both new and existing buildings, including offices, retail, warehouses, rental housing of four stories or more and municipal buildings. BOMA International is actively communicating with Congress the need to increase the amount of the deduction (from the current $1.80/sf to $2.25/sf) and to extend the program well beyond its 2008 expiration date to encourage retrofitting of existing buildings and achieve the desired market transformation outcome.

President signs economic stimulus legislation containing leasehold depreciation provision

In February, President Bush signed legislation into law intended to provide a boost to the economy. In addition to providing stimulus payments to individual

taxpayers, the Economic Stimulus Act of 2008 provides incentives to businesses. These incentives include a special 50-percent depreciation allowance for 2008 purchases and an increase in the small business expensing limitation for tax years beginning in 2008. Depreciation is an income tax deduction that allows a taxpayer to recover the cost or other basis of certain property over several years. It is an annual allowance for the wear and tear, deterioration or obsolescence of the property and is applicable to leasehold improvements as well as furniture and business equipment. Under the new law, a taxpayer is entitled to depreciate 50 percent of the adjusted basis of certain qualified property during the year that the property is placed in service. To qualify for the 50-percent special depreciation allowance under the new law, the property must be placed in service after Dec. 31, 2007, but generally before Jan. 1, 2009. To reflect the new 50-percent special depreciation allowance, the IRS is developing a new version of the depreciation and amortization form for fiscal year filers. The new form will be designated as the 2007 Form 4562-FY and will be available on www.IRS.gov. BOMA International will continue to advocate for a permanent change in leasehold depreciation as part of overall tax reform. continued on page 10


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Legislative Update BOMA May/June January/February 2008 2008

State and Local Update BOMA locals promote initiative to ‘turn off the lights’

On March 29, Earth Hour, a global event, was held to symbolize the positive impact that individuals and businesses, working together, can have on climate change. From 8-9 p.m., cities around the world joined together to turn off their lights for one hour, and the commercial real estate industry was there to lend its support. The World Wildlife Fund held the event across six continents, in cities that included Copenhagen, Tel Aviv and Toronto. Partner cities in the United States included Chicago, Atlanta, Phoenix and San Francisco, with BOMA local associations in those cities promoting the event to their members. Chicago, a leader in environmental initiatives, served as the initiative’s flagship city in the United States,

and BOMA/Chicago was one of the city’s main event sponsors. “Energy efficiency has always been important to our members – it’s the right thing to do for the environment and it makes good business sense, too,” said Michael Cornicelli, executive vice president of BOMA/Chicago in his remarks to the World Wildlife Fund. “Building owners have long known that small changes like turning off nonessential lighting when not in use can add up to big energy savings. We applaud the World Wildlife Fund and the city of Chicago for finding a creative way to bring this important message to more people, whether they are building managers, business owners or city residents.” Many of the city’s skyline buildings participated in the event, including such landmarks as the Sears Tower and the John Hancock Center.

To encourage long-term benefits, participants in the city’s endeavor were also asked to replace older light bulbs with energy-efficient compact fluorescents and pledge to take actions that will reduce their energy consumption in the coming year. Earth Hour is intended to bring together a diverse group of community, municipal, corporate and non-governmental organizations to heighten awareness of the impacts of climate change on the world and to inspire individuals and businesses to take practical action to reduce their own carbon footprint. The initiative started in Sydney, Australia, where businesses, government entities and individuals turned off the city’s lights for one hour on March 31, 2007, as a step toward reducing the city’s greenhouse gas pollution. The result was a 10.2-percent drop in energy usage continued on page 12

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Legislative Update BOMA May/June January/February 2008 2008

a part of the country that has been hard-hit by droughts. To assist counties in their efforts, the National Association of Counties (NACo) launched the Green Government Initiative in 2007 to provide a comprehensive resource for local governments on all things green,

– the equivalent of taking more than 48,000 cars off the road for an hour – and an increased awareness for global climate change. Some 2,270 businesses and 68,506 individuals signed up on the initiative’s Web site, with commitments to spread the word.

BOMA International increases involvement with counties’ green initiative

The nation’s counties are taking an active role in exploring emerging energy-efficiency and sustainable concepts as a means of lessening the impact of global warming. For example, Multnomah County, Ore., plans to build the largest solar energy installation in the region on roofs of county buildings. Cobb County, Ga., is installing waterless toilets in an effort to save water in

The Green Government Initiative serves as a catalyst between counties and the private sector to facilitate green government practices, products and policies that result in financial and environmental savings.

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including energy, air quality, transportation, water quality, land use, purchasing and recycling. Key components of the initiative include its Web site (www.greencounties.org), a searchable online database of county codes and ordinances (such as green 6/8/07

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buildings), and fact sheets and Web casts to educate officials on greening their counties. The initiative also serves as a catalyst between counties and the private sector to facilitate green government practices, products and policies that result in financial and environmental savings. BOMA International has taken active steps in becoming more involved with NACo’s Green Government Initiative as NACo’s incoming president, Don Stapley (Maricopa County, Ariz.), will be focused on energy and sustainability issues during his term. BOMA is a founding sponsor of the initiative through its involvement with the Real Estate Advocacy Group for States, and BOMA staff will also be collaborating with NACo on upcoming fact sheets pertaining to the commercial real estate industry. continued on page 14

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Legislative Update BOMA May/June 2008

Codes and Standards Update Department of Justice issues notice on new ADA standards

The Department of Justice (DOJ) has now submitted a notice to update its ADA standards (ADAAG) for review by the Administration. This notice was approved in March, and, at press time, was expected to be followed by publication of the notice for public review in April. The ensuing 60-day public comment period would extend into June. The updates to the standards follow recommended changes from the U.S. Access Board that were released to DOJ in 2007 and would apply to the construction and alteration of all facilities covered by the ADA except transportation facilities. DOJ’s final notice to complete action, which will include an effective date for the updated stan-

dards to go into effect, is not expected until sometime this fall at the earliest. Until that time, the existing standards remain in effect. BOMA intends to submit comments, in particular the need to “grandfather” all facilities that made design modifications to comply with the current standards. The process can be tracked through the Access Board Web site at www.access-board.gov/ ada-aba/standards-update.htm.

ASHRAE releases second public review draft of green building standard

The American Society of Heating, Refrigerating and Air-Conditioning Engineers (ASHRAE) released a second public review draft of the green building standard for commercial buildings (Standard 189.1) that the organization has been developing

since early 2007. Well over 900 public comments were submitted on the first draft, including a number filed by BOMA and other real estate trade organizations. As a result of the large number of comments, ASHRAE chose not to specifically respond to each commenter; instead, the organization decided to make revisions to the first draft and resubmit it for another 45-day public review period. BOMA and its real estate organizations partners will again submit extensive comments focusing on areas of concern to the commercial real estate industry. Issuance of this second public review draft represents a significant delay in the development of this ASHRAE standard, and publication of a final standard is expected no earlier than late in 2008. continued on page 16


Legislative Update BOMA May/June 2008

NAHB/ICC green building residential standard closer to publication

Balloting has now been completed for the new National Green Building Standard (NGBS), the joint International Code Council (ICC) and National Association of Home Builders (NAHB) project based on the threeyear-old NAHB Model Green Home Building Guideline and designed to maintain design flexibility while providing a common benchmark for builders, remodelers and developers. The new standard is being developed through an ANSI-approved consensus committee process. BOMA holds a voting seat on the NGBS project committee and has worked with other interest groups in crafting the multifamily and mixed-use provisions of the draft standard.

At press time, publication of the final standard was expected in early May, pending ANSI review. This will be the first of several green building standards currently under development, with other standards primarily covering commercial buildings to follow later in 2008 and 2009.

Release of new window cleaning safety standard planned for 2009

The International Window Cleaning Association (IWCA), secretariat for the ANSI Standard I-14, Window Cleaning Safety Standard, expects the release of a new and revised window cleaning safety standard in early 2009. The current (and first) version of the standard was published in 2001. The 2009 draft will improve procedures for window cleaners, while reduc-

ing the number of injuries sustained by window cleaners. Once again, the revised standard will reportedly rely heavily on the installation of rooftop anchors for rope descending sys-

Expect the release of a new and revised window cleaning safety standard in early 2009. tems. Revisions under consideration include new obligations on building owners and managers to furnish window cleaners with information pertaining to the risks posed by any rooftop antennae. BOMA holds a voting seat on the I-14 Standard Development Committee and will work to ensure the changes to the standard are reasonable and acceptable to BOMA members. BOMA

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Around the Industry BOMA

May/June 2008

Around t he Industry A night to remember: BOMA honored for sustainability excellence

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BOMA Chairman Brenna Walraven and BOMA President Henry Chamberlain accept the ENERGY STAR Partner of the Year Award.

OMA International was honored at the recent ENERGY STAR® Awards gala in Washington, D.C., with a Partner of the Year award for Energy Efficiency Program Delivery. This was the second year in a row that BOMA received the award, and BOMA is still the first and only real estate association to be recognized with this honor. In a night capped with numerous acceptance speeches from executives and CEOs spanning the breadth of U.S. business, all attention focused when BOMA International Chairman Brenna S. Walraven, RPA, CPM, and BOMA President Henry Chamberlain, CAE, APR, took the stage to accept the award on behalf of BOMA, its members and the commercial real estate industry. Walraven thanked ENERGY STAR for helping BOMA deliver BEEP; BOMA Staff for their dedication; and the BEEP Taskforce for developing the groundbreaking energy-efficiency program. “This would not have happened without you, and your leadership cannot be understated,” said Walraven. Chamberlain thanked BOMA’s industry partners, including the U.S. Green Building Council and the Real Estate Roundtable, and emphasized the collective pledge of scores of BOMA members who were leading sustainability efforts by signing onto BOMA’s groundbreaking 7-Point Challenge to reduce energy consumption by 30 percent by 2012. Five BOMA member companies also received ENERGY STAR awards: USAA Real Estate Company and Transwestern were recognized with Sustained Excellence Awards, while CB Richard Ellis, TIAA-CREF and Simon Property Group all received Partner of the Year nods. Prior to the ENERGY STAR awards, Walraven and Chamberlain attended an ENERGY STAR Buildings Awardee Reception and Dialogue hosted by Real Estate Roundtable. Chamberlain briefed the group on the out-

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reach and success of the 7-Point Challenge, emphasizing the benchmarking component of the Challenge as a crucial step in tracking energy savings and determining operational strategy. Walraven was commended for the work she is doing with the Clinton Climate Initiative on behalf of BOMA International to negotiate a model con-

Brenna Walraven discusses her work with the Clinton Climate Initiative during the ENERGY STAR Buildings Awardee Reception and Dialogue.

tract with energy companies. Other presenters included Stuart Brodsky and Jean Lupinacci with ENERGY STAR, who discussed a national action plan for “Smart Energy,” which brings communities together with the U.S. Council of Mayors to develop and promote energy-efficiency plans. Kevin McCarty with the U.S. Conference of Mayors asked everyone to be active with their cities and to continue to work at the local level. McCarty praised several cities for their accomplishments in different areas of energy conservation and management: Seattle for carbon emissions, Portland for transportation and Austin for technology and smart buildings, to name a few.

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Cat Rental Power joins BOMA International as Leadership Circle Partner

BOMA/Atlanta members stand strong after devastating tornado

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at® Rental Power, a division of Caterpillar® supplying the building industry with rental generator sets, is the newest Leadership Circle Partner of BOMA International. As a Leadership Circle Partner, Cat Rental Power pledged to support BOMA’s vital programs in advocacy, education, research and membership. BOMA International’s partnership program, developed in 2004, allows companies to invest in their own success and viability, as well as that of the industry. With three levels of participation – Cornerstone Partner, Leadership Circle and Supporting Partner – the program demonstrates the commitment of leading organizations to support BOMA International with the needed resources that benefit the entire commercial real estate industry. “BOMA is very excited to be partnering with Cat Rental Power, and we look forward to a successful relationship,” says BOMA International Chairman and Chief Elected Officer Brenna Walraven, RPA, CPM, executive managing director, national property management, USAA Real Estate Company. “Cat Rental Power is recognized for excellence in customer service in every major location across the United States with a line of compressed air and temperature control rental equipment that is outstanding.” For more information on Cat Rental Power, visit www. cat-electricpower.com. For more information on BOMA’s Partnership Program, visit www.boma.org/AboutBOMA/ BOMAPartnershipProgram.

devastating tornado ripped through downtown Atlanta on Friday night, March 14, damaging numerous properties and leaving many BOMA/Atlanta members in a state of emergency. Judi Sponsel, vice president and group manager for Jones Lang LaSalle (and who manages 100 Peachtree in downtown Atlanta), was among the BOMA members whose buildings were hit by the tornado. Despite the damage, Judi and her team were able to begin restoring the property almost immediately with the help of other BOMA members. “I can’t say enough about EPIC Response. They were onsite within one hour after the building sustained its damage and began assessing and putting plans together. They worked all night boarding up windows and completed the urgent needs by Sunday,” says Sponsel, adding that many other BOMA members also reached out. “Everyone in the BOMA/Atlanta community has offered their support. I have had no less than 20 managers and vendors from various companies e-mail or call wanting to know what they can do to help.”

Clean green with Green Seal standards

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Tim Draney, executive vice president for BMS Catastrophe, also shared his experience from the perspective of an emergency response services provider. Upon contacting BMS customers in the area, most of whom sustained no or minimal damages, the company’s focus shifted to the recovery of the 73-story Westin Peachtree Plaza. “Our local response teams were in the building within two hours. After restoring exterior areas such as sidewalks and driveways, we moved on to the lobby areas and other facilities. On the Monday after the tornado, we had 75 people on-site to remove glass and debris from the impacted rooms,” he recalls. Despite the hardship caused by this unexpected storm, BOMA members in the Atlanta community rallied around those who were affected, supporting friends and colleagues and helping restore buildings. continued on page 20

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Around the Industry BOMA May/June 2008

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Investors eye medical office assets in unstable market

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arcus & Millichap Real Estate Investment Services recently released the Medical Office Special Report, which revealed that the current “credit crisis and the resulting flight to safety and quality led many investors to the medical office sector.” The report also showed that, while transaction activ-

ity was down considerably in the last four months of 2007 compared to 2006, “transaction velocity for medical office assets increased approximately 2 percent from the rate recorded in 2006,” and overall demand has been quite strong despite higher vacancy rates.

Duro-Last®: Defining Rooftop Sustainability.

BOMA/Suburban Chicago sets high bar for excellence

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ongratulations to BOMA/ Suburban Chicago, a recipient of the Annual Award for Business Excellence (AABE) from The Business Ledger. The AABE program, now in its 18th year, is given to suburban companies, business organizations and non-profits for business achievement, growth and community involvement. In accepting the award, BOMA/Suburban Chicago Executive Director Patricia Schwarze said, “We are honored to be recognized by The Business Ledger with this award and proud of the high-level of service we continually strive to provide our members.”

Top performing buildings announced by EPA

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Rooftop sustainability from Duro-Last: Way beyond cool.

he U.S. Environmental Protection Agency (EPA) recently announced the buildings that have earned the ENERGY STAR® rating for exceptional management of energy use. Altogether, 1,400 buildings (with a total energy savings of $425 million, avoiding 6.4 billion pounds in CO2 emissions) earned the designation. The EPA also highlighted the top five states with the most commercial buildings earning the ENERGY STAR rating. California topped the list, followed by Texas, North Carolina, Virginia and Colorado. For more information, visit www. energystar.gov.

TAKE NOTE BOMA to sponsor mixed-use conference

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BOMA International will join ICSC, NAIOP, IREM, NMHC and others to sponsor the third annual Mixed-Use Development Conference, November 11-12, at the Fairmont Hotel in Chicago. The program will feature dynamic keynote speakers, facilitatorlead roundtable discussions, focused workshops/sessions and numerous networking opportunities. continued on page 22

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Around the Industry BOMA May/June 2008

GBI signs MOU with ENERGY STAR

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he Green Building Initiative (GBI), a not-for-profit education and marketing initiative dedicated to accelerating the adoption of green building practices, has announced the signing of a formal memorandum of understanding (MOU) with ENERGY STAR. As part of the partnership, GBI will work with ENERGY STAR to encourage GBI members to join the ENERGY STAR partnership, measure and track energy performance of facilities and develop and implement plans consistent with the ENERGY STAR Energy Management Guidelines and GBI/ANSI standard to achieve energy savings.

CBRE tops Lipsey brand survey for the seventh consecutive year how industry participants perceive commercial real estate brands. More than 20,000 professionals from REITs, institutions, lenders, commercial brokerages and asset and property management firms participated in the survey. Responses came from U.S. and international real estate professionals.

CB Richard Ellis (CBRE) has been named the leading global brand in commercial real estate, according to a survey of real estate professionals from around the world. CBRE has been named the top brand every year since the survey’s inception in 2002. Conducted by the Lipsey Company, the survey measures

ThyssenKrupp Elevator wins three Elevator World awards

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ongratulations to ThyssenKrupp Elevator, winner of three Project of the Year awards by Elevator World. This is the first time in the award’s history that a company has been recognized for three distinct projects in a single year. In the escalator new construction category, The

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BOMA’s Green Guide When BOMA International first announced the 7 Point Challenge – a program that urges commercial real estate professionals to improve energy efficiency across their portfolios by 30 percent by 2012 – it received national media coverage overnight. The attention was not misdirected, as the commercial real estate industry contributes nearly 20 percent of U.S. greenhouse gas emissions and spends $24 billion on energy every year. Within days of the announcement, several major real estate management companies and BOMA local associations accepted the Challenge. In BOMA’s second annual Green Guide, we will:

• Highlight some of the early adopters of the 7-Point Challenge and examine the strategies that are helping them reduce emissions and achieve Green ROI. • Look at how cities and local municipalities are encouraging green business. • Offer up tips for property professionals looking to launch their own sustainability initiative or beef up an already existing program.

Answering the call to action

By Lindsey Tiffany

BOMA member companies put their 7-Point Challenge plans in place BOMA member companies across the country, from local and regional organizations to industry giants operating all over the world, are signing on to BOMA International’s 7-Point Challenge to reduce emissions, save money, boost the environment and achieve market transformation across commercial real estate. At press time, 23 companies had endorsed the challenge, with more signing on every day. See how several companies are rising to meet the challenge.

Advance Realty Group

The Call to Action: Advance Realty Group (ARG) has maintained a steadfast commitment to environmental responsibility and sees meeting and exceeding the goals of the 7-Point Challenge as an opportunity for further success. The Plan of Action: ARG’s approach to implementing the Challenge has centered on building evaluations, benchmarking and education. They are working with an international provider of facilities and energy management solutions to ensure the efficient operations of their building equipment and systems through a comprehensive preventive maintenance program, which is predicted to lead to an annual savings of 5 to 17 percent in energy consumption. Advance Realty Group has also established a thorough benchmarking system and has already begun to share its results with BOMA International. Advance Realty build-

ing managers update each building’s utilities information on a monthly basis automatically into ENERGY STAR®. ARG is also taking full advantage of the BOMA Energy Efficiency Program (BEEP). Last year, many of Advance Realty’s senior managers and technicians completed all six levels of BEEP, and the company continues to make the courses available to all property managers.

The Carr Companies

The Call to Action: Carr views the 7-Point Challenge as a watershed opportunity to lead the industry in energyefficiency performance, and is focusing on upgrading technology and retrofits to bring its buildings up to maximum efficiency. The Plan of Action: Carr recently signed a contract with a water treatment provider that utilizes the latest technology approved for use in obtaining green building water savings credits. They estimate that they will save approximately 5.2 million gallons of water annually on current projects, with the savings possibly doubling by the year 2012. Carr performs lighting retrofits at the properties that need to be upgraded to electronic ballasts, which amounts to an electrical savings of nearly 2.5 million kwh annually. The organization also has a recycling program in place for fluorescent lights and batteries. Additionally, Carr is developing a LEED® Gold Certified property, 901 K, located in the heart of downtown D.C. continued on page 26


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Glenborough, LLC

language – like ENERGY STAR® and LEED® – that communicates our industry’s common goals and quantifies success in a succinct and effective way. The Plan of Action: When Hines invests in, develops, renovates or manages properties, its teams practice and prioritize the sustainable principles at the core of ENERGY STAR, LEED and BOMA’s 7-point Challenge. So, to achieve BOMA’s 7-Point Challenge, Hines will continue to invest in and rely upon its 3,500 talented, passionate and disciplined staff who know when and how to implement appropriate people-intensive and/or equipment-focused strategies. Hines’ rapidly expanding sustainable real estate portfolio includes 60 million square feet of ENERGY STAR-labeled buildings and 35 million square feet of LEED Certified, Pre-certified or Registered projects.

The Aventine building in La Jolla, Calif., managed by Glenborough, features green cleaning and recycling programs, as well as energy-efficient lighting and a tenant education program.

The Call to Action: Glenborough has been committed to green practices for many years and has been an ENERGY STAR partner since 2000. The company’s decision to accept the 7-Point Challenge is driven by its dedication to improve how its buildings operate. The Plan of Action: Glenborough’s Green Program initiative has been crucial for improving opertions. The program incorporates a number of building operations and management enhancements, and senior leadership is required to participate in the program. Glenborough has aggressively implemented new technologies to provide cutting-edge control, monitoring and design of environmentally friendly HVAC systems. In addition, the company is using the first totally oil-free compressor, reducing HVAC plant efficiency from 1.25 kw/ton to an efficient 0.35 to 0.5 kw/ton. With more than 50 percent of all existing buildings ENERGY STAR labeled, Glenborough is quickly approaching an average ENERGY STAR rating  of 75 as it has committed to the 7-Point Challenge.

Hines

The Call to Action: Long recognized as a global leader in sustainability and the leading owner and developer of green office buildings in the United States, Hines eagerly welcomed BOMA’s 7-Point Challenge. To Hines, the 7-Point Challenge is a useful framework or common 1180 Peachtree, managed by Hines, uses captured and stored storm water and condensate from the building’s mechanical system.

17901 Von Karman in Irvive, Calif., managed by LBA Realty, has received the ENERGY STAR rating every year since first applied for in 2002.

LBA Realty

The Call to Action: As an organization, LBA is committed to implementing practices across its portfolio that reduce the use of natural resources. BOMA’s 7-Point Challenge realigned the company’s focus and internal resources toward a rigorous but attainable goal.

The Plan of Action: As a result of endorsing the Challenge, LBA has taken a closer look at how it operates, making small changes that yield big results. LBA takes a comprehensive approach to benchmarking, which has proven pivotal in setting and reaching energy-reduction goals. To date, the organization has achieved ENERGY STAR rating on 17 properties, with ongoing assessments for the remaining. Proactive engagement in activities like energy profiling and re-commissioning audits helps LBA reach its ENERGY STAR-qualification goals. LBA has also taken steps to reexamine its day-to-day management operations, whether that be in green cleaning, recycling programs or tenant communications. As a major sponsor of BOMA’s BEEP Program, LBA will require all of its operating personnel to rotate through the program in 2008.


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Opus

The Environmental Protection Agency (EPA) Region 8 Headquarters in Denver, managed by Opus, uses solar panels and a green roof to meet energy-efficiency goals

The Call to Action: Opus has seen the increasing importance of greening its portfolios and has taken action in a variety of ways. Signing on to the 7-Point Challenge was a way to recommit to the company’s sustainability efforts. The Plan of Action: Opus has created a strong expertise in developing efficient buildings, and currently has 20 million square feet of sustainable buildings either in planning or under development. Sustainable projects in Opus buildings include the use of energy-efficient mechanical systems, water-efficient landscaping techniques and low-emitting construction materials. Opus is also implementing sustainable practices in its corporate headquarters; a 147,000-squarefoot expansion is in the works that will be constructed and managed to meet LEED Gold certification.

BOMA member companies endorsing the 7-Point Challenge

(As of 4/14/08)

Advance Realty Group

The Ashforth Company Carr Services CB Richard Ellis Church Street Investment Properties Inc. Colonial Properties Trust Cousins Properties Crescent Real Estate Cushman & Wakefield Glenborough, LLC Harbor Group Management Company Hines The Irvine Company LBA Realty MetroNational Opus Parmenter Realty Partners PM Realty Group Ryan Companies US, Inc. Shorenstein Properties, LLC Stream Realty Partners, L.P. Transwestern USAA Real Estate Company Public Sector Endorser: EPA ENERGY STAR program

PM Realty Group

The Call to Action: PM Realty Group has a strong commitment to positively impacting the environment and sees the 7-Point Challenge as a natural extension of its existing energy-saving programs. The Plan of Action: Every PM Realty Group regional office (21 in all) has established a representative to the U.S. Green Building Council. Their Development Services professionals will strive for LEED status on each project that they build and are committed to strongly urging their clients and tenants to assist them in achieving ENERGY STAR and LEED certification on the properties where they provide third-party services. The firm views the 7-Point Challenge as a win-win solution – remaining a leader in the energy-efficiency and environmental conservation arenas, while meeting criteria for LEED certification. Motion sensors, modified temperature set points and variable frequency drive mechanical systems help PM Realty manage energy at 1899 Pennsylvania Avenue in Washington, D.C

Shorenstein Properties, LLC

The Call to Action: Signing on to BOMA’s 7-Point Challenge gave Shorenstein Properties the opportunity to bring together sustainability visionaries in its organization to unify efforts to reduce the company’s carbon footprint.

The Plan of Action: To implement the 7-Point Challenge, Shorenstein’s Management and Construction Group created the Green Real Estate Environments Now (GREEN) Committee. The mission of the GREEN Committee is to promote environmental stewardship through the implementation of sustainable ecological initiatives that benefit the company’s assets, investors, customers and employees, as well as the planet. Committee members research, identify and recommend best practices within the green community and the real estate industry for implementation both in its corporate headquarters and across its portfolios.

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Challenge. Already an industry leader in energy performance, USAA signed on to support a crucial industry initiative, support other companies and do its part to transform the marketplace.

The USAA Phoenix Campus in Phoenix, managed by USAA Real Estate Company, received the ENERGY STAR award in 2005 and 2006 and is LEED Certified-New Construction.

USAA Real Estate Company

The Call to Action: USAA Real Estate Company was one of the first organizations to endorse the 7-Point

From the top down Dave Pogue discusses CBRE’s green strategy

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By Stephanie J. Oppenheimer, APR

Q: Why did CB Richard Ellis (CBRE) accept the Challenge? A: We believe that environmental stewardship is important for both social and economic reasons, and we take our obligation seriously. We’re the largest commercial real estate firm in the world, and we know that our commitment can make a significant, lasting impact on our environment, our business and our clients. Last spring, we announced our commitment to become carbon neutral by 2010, and when BOMA announced its Challenge, it validated what we were doing. Coordinating our efforts across the nation in concert with BOMA is an important statement we are pleased to make.

The Plan of Action: A six-time ENERGY STAR Partner of the Year, USAA has improved its average ENERGY STAR rating, from a 48 when it first began benchmarking in 2000 to an exceptional rating of 81 for its building portfolio. The company continues to benchmark energy performance through ENERGY STAR, allowing it to make performance-based comparisons between individual buildings – a crucial part of evaluating and improving energy performance. USAA also employs numerous low- and no-cost strategies, such as shutting off escalators after hours, dimming lights in parking garages and performing regular audits to ensure equipment is running efficiently. The company has found that investing in improvements, such as replacing inefficient lighting, can earn payback within a year and yield substantial energy savings. share that vision. We’ve assembled a group called the “Green Knights,” who serve as subject matter experts in every market. They help disseminate information and key messages, act as our local advocate and demonstrate what can be achieved when someone embraces our Sensible Sustainability program. The Dave Pogue, reaction has been overwhelming; every Senior Managing Director, day, I hear from someone telling me Asset Services about something they’re excited about, Western Region, CB Richard Ellis and that’s powering the program. I’ve been in the business a long time, and I’ve never seen a movement or initiative go forward with such speed and power. I’m proud that our company has taken a leadership role, and I’m proud of the way our employees have embraced it. We’ve done a lot of good work in the last year, and we’re poised to do some remarkable work going forward.

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Q:: How is BOMA’s Energy Efficiency Program (BEEP) helping CBRE meets its environmental goals? A: We have a very robust internal training program. When we began looking at sustainability and thinking about course development, we saw that BEEP already did everything we aspired to – it was well written, clear and clean. Rather than trying to recreate the wheel, we decided to adopt BOMA’s industry standard. With BOMA’s approval and support, we co-branded it as part of our own training. We’re requiring every office building manager and engineer to complete the course in 2008. Q: What is CBRE doing internally to keep sustainability “top of mind?” A: We’re doing the expected things … publishing internal Standards of Sustainability; benchmarking our properties with ENERGY STAR; and establishing recycling, water-use and green-cleaning programs, among others. Also important is our top-down commitment. Equally important, however, is finding people throughout the organization who

Q: What are the next steps? A: We’re introducing a robust recycling program and have made a major commitment to the EPA’s Change a Light program. We’re also working with the U.S. Green Building Council to get a significant number of our managed office portfolio LEED certified. Much of our success is telling our story and working with tenants to change their behavior. So we are also working hard to develop messages that reach our tenants through personal meetings and building-wide newsletters. We also plan to sponsor a large, company-wide program on Earth Day (April 22, at press time) to visibly introduce and promote the steps we’ve taken. This is a multi-faceted effort that requires reaching multiple constituencies and requires a lot of client cooperation and assistance, with buy-in from both employees and tenants. In the end, there is great financial rationale, along with great social and environmental incentives.


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Building a green web BOMA local associations across the country sign on to the 7-Point Challenge By James Cox BOMA local associations and their members are embracing the principles of the 7-Point Challenge to improve energy performance in commercial real estate across dozens of cities and regions. To date, 33 BOMA local associations have endorsed the Challenge, creating a rapidly growing network of sustainable energy initiatives across the country. Several associations have instituted programs aimed at assisting their members in achieving the 30-percent goal and have created stronger links with local and state governments to promote the importance of energy conservation. Following are just a few of the strategies that BOMA local association are putting in place to meet the Challenge.

BOMA/Austin

BOMA/Austin was the first BOMA local association to endorse the 7-Point Challenge. Energy conservation has long been a priority for the association and the city of Austin. Last summer, the city indicated that it would consider ordinances requiring residential and commercial properties to mandate disclosure of historical energy consumption and point-of-sale energy retrofits, thereby bringing the properties up to an undetermined level of energy efficiency. In order to get ahead of the curve, BOMA/Austin endorsed a proposal to benchmark the energy consumption of at least 90 percent of its member-managed properties, and to reduce consumption by 30 percent over the next three years. Additionally, the local association began educating its members on low- and no-cost ways to reduce energy consumption, and the effect that reducing utility operating costs would have on property NOI and value. BOMA/Austin also established

a Sustainability Task Force to spearhead the association’s effort to benchmark member properties using the EPA ENERGY STAR portfolio manager program; and then provide seminars and exchange best practices information to reduce energy consumption. A result of the establishment of BOMA/Austin’s energy-conservation effort was the inclusion of the task force’s chair on the city’s Energy Efficiency Task Force. BOMA/Austin has rolled out several Webinars to its membership at no cost, including the six-part BEEP program; the three-part Economics of Greening series; and a seminar on the Energy Policy Act, which requires states to establish minimum commercial building energy codes. In addition, it is currently collaborating with the city and the Clinton Climate Initiative to establish a BOMA/Austin Property Portfolio that will be eligible to participate with the CCI’s guaranteed performance contracts and favorable funding alternatives.

BOMA/Greater Cleveland

In addition to being the right thing to do, BOMA/Greater Cleveland endorsed the 7-Point Challenge as a means to encourage efficiency and assist BOMA International in advocating for responsible government programs and voluntary incentives to facilitate market transformation. In March, the association held its first green-focused panel discussion, “Step One: Go Green with BOMA,” which featured speakers from the commercial real estate industry, the Cleveland Green Building Coalition and Entrepreneurs for Sustainability. The local association’s April Vendor Show, April 24th (Theme: “Go Green with BOMA”), also included six hour-long breakout sessions on

sustainable opportunities. B O M A / G re a t e r C l e v e l a n d is developing a new task force to implement the Challenge, in conjunction with other energy and utility issues in the state.

BOMA/Portland

Portland is known as a leader in sustainability issues, with the city as well as the state through its efforts in pursuing numerous green mandates aimed at businesses. Tying in with the tenants on the 7-Point Challenge, BOMA/Portland continues to support sustainability, as long as it makes good business sense. BOMA/Portland is working with local and state governments to offer incentives – not mandates – for its members’ efforts, and the association is an active participant on several government sustainability task forces. BOMA/Portland formed a Sustainability Committee to serve as a resource for its members, creating materials with links to key information members will need to meet goals. Its Program and Government Affairs Committees are also focusing on sustainability issues. In partnership with the Northwest Energy Efficiency Alliance, BOMA/ Portland is offering the BEEP series this year. In addition, the local association is partnering with Green Building Services to offer a series of four classes, which take participants through all aspects of greening their buildings.

BOMA/San Francisco

BOMA/San Francisco members are keenly aware of their natural environment and their responsibilities as custodians of the built environment, as well as how to minimize the impact of one on the other. BOMA/San Francisco members have been making large investments in lighting upgrades, heating and continued on page 30


30 BOMA local associations that have endorsed the 7-Point Challenge (As of 4/14/08)

Austin Boston Buffalo California Greater Cleveland Columbus Dallas Denver Metro Metropolitan Detroit

Florida Fort Lauderdale/ Palm Beaches Houston Inland Empire Iowa Kansas City Greater Los Angeles Miami-Dade

cooling system upgrades and the like for many years, so the 7-Point Challenge is a natural extension of what many of its members have already been doing. BOMA/San Francisco members have been upgrading their properties for years under one of the most energy-efficient state building codes in the country, so they are no strangers to the concept of making their structures as “green” as possible, particularly in a state where energy has historically been very expensive. In 1989, BOMA/San Francisco established a Commercial Recycling Competition to recognize the best recycling practices in its members’ buildings, and has recently expanded the contest into its local Earth Awards competition. This awards program, which distributes both cash and local publicity to winners, is supervised by the association’s Environment Committee, which will be the committee that undertakes the promotion of the 7-Point Chal-

Minneapolis New Mexico New York Oakland-East Bay Omaha Orange County Orlando Philadelphia Phoenix

lenge and its adoption by members. Benchmarking all member buildings will be the first goal following the recent completion of BOMA/San Francisco’s 2nd Annual Earth Awards program in April. BOMA/San Francisco also offers a complete array of BOMA Energy Efficiency Program seminars for its members. In addition, its Codes Committee’s annual seminar will highlight how tenant improvements and other building projects can be accomplished in a more sustainable fashion.

BOMA/Orlando

In an effort to promote, educate and effectively engage its members, BOMA/Orlando created a Green Committee to implement the overall goals of the 7-Point Challenge. The committee’s goals for 2008 include defining the association’s commitment to sustainability, identifying the unique challenges its members face in going green and identify-

Portland Raleigh-Durham Sacramento San Diego San Francisco Silicon Valley Utah Metropolitan Washington ing resources to assist members in these efforts. BOMA/Orlando is also in the process of establishing a Green Council comprised of its associate members, which include general contractors, mechanical contractors, electrical contractors, waste management representatives, energy consultants and others. Council members will provide unofficial counsel to individual property managers, will conduct on-site walkthroughs of a property and then provide an evaluation, taking into consideration issues faced by owners and tenants, budget constraints and goals. The Council’s goal is to provide clear “green” direction to each property manager in an unbiased, efficient manner. It will also serve as a conduit to distribute resources to the association’s memberships and will develop incentives for benchmarks reached by members.

Five steps to developing an energy awareness plan An energy awareness plan is, in essence, a communications plan; it outlines the steps you’re going to take to communicate your energy-efficiency plans and goals to the stakeholders in your buildings. Without the awareness and support of your tenants, engineers and property managers, much of your energy-efficiency plan will go unrealized. Here are the essential components of a successful energy awareness plan: 1. Create an energy management plan. It should outline your goals for energy performance and efficiency, and lay out strategies to achieve those goals. The BOMA Energy Efficiency Program (BEEP) courses one through five cover this topic in great detail. 2. Generate a communications plan. The plan should summarize your energy management plan, define who your audience is and how you’ll get your message across. Consider the various methods of communication available and use them to your best advantage.

3. Determine how to measure success. It is critical to understand what your goals are and how you will know when they have been achieved. Identify tangible ways your targets can be reached. 4. Monitor progress. Implement a training program to keep all stakeholders focused on your energy-usage targets. Engage staff in education, share best practices and compile tips and ideas. Training can be informal, such as a brown-bag lunch and a PowerPoint presentation; or formal, such as mandatory BEEP participation. 5. Celebrate success. Recognize those who have helped you reach your goals. Continue striving for optimal efficiency, enlisting the help of the communities within your buildings. To learn more about creating an energy awareness plan, sign up for BEEP Course 6 by visiting www.boma.org/Train ing AndEducation/BEEP/schedule.htm.

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High tech goes green BOMA/Silicon Valley spotlight By Stephanie J. Oppenheimer, APR

San Jose Mayor Chuck Reed receives the “Moxie Award” from BOMA/Silicon Valley Association Executive Bob Jacobvitz.

cational programs in March that directly tied in with the city of San Jose’s and Mayor Chuck Reed’s vision for going green. As anyone who has adopted the 7-Point Challenge knows, a big part of its blueprint for success is

the importance of partnering with municipalities and city governments to combine education and other communications efforts, and here BOMA/Silicon Valley really shines. Early implementation steps established a link with San Jose right away, with Mayor Reed serving as the March luncheon speaker, partnering with the city on future education programs to assist property owners in becoming “greener”; working with the city to solicit feedback on how to achieve higher recycling rates; discussing a recognition program for commercial buildings as they achieve green milestones; and establishing linkages with smaller cities within Silicon Valley. “The education proponent is central for us,” says Sheryn Cockett, president of BOMA/Silicon Valley, “with seminars scheduled for the next six months. We’re committed, the city is committed; and our partnership is a win-win for everyone. And, by letting the city know what we’re doing, we’re getting their support and buyin. We don’t want them to make mandates; we want to show them that we can do it on our own … and, through this partnership, the Mayor understands when to take a step back and let the private sector do its thing.”

City Mayor Goes Green San Jose Mayor Chuck Reed has launched a Green Vision for San Jose, Calif., an ambitious and comprehensive 15-year plan to solve environmental problems and grow the local economy. Focused around three elements – Clean Tech Innovation, Sustainability and Green Mobility – San Jose’s Green Vision is a roadmap for the city to become the world’s center of Clean Tech innovation. The plan outlines 10 far-reaching goals that address energy consumption, water use, greenhouse gas emissions and other environmental impacts. The goals are: 1. Create 25,000 Clean Tech jobs as the World Center of Clean Tech Innovation. 2. Reduce per capita energy use by 50 percent.

That level of commitment from both BOMA/Silicon Valley and the city also made accepting the 7 Point Challenge an easy decision, with multiple shared ideals. “The 7 Point Challenge was in keeping with everything we’re doing,” says George Denise, general manager facilities, Cushman & Wakefield at Adobe Systems. I don’t know of a single member who isn’t already implementing energy conservation and at least some sustainability practices. I think, on some level, it’s becoming an overall philosophy that a sustainable culture must be our goal.” “Accepting this challenge was a no brainer,” agrees Robert Jacobvitz, executive vice president of BOMA/Silicon Valley. “Through green practices, we’ll have less of an impact on our environment, and it’s smart business. Managing efficient buildings has huge financial payback, and our members are incredibly motivated by the possibilities.” “Eventually,” Denise concludes, “I think it will get to the point where buildings that aren’t green certified are not going to be considered Class A buildings, and the reason is simple: It’s too hard to not do it. Your building will operate more efficiently, your operating costs go down and pretty soon ‘green’ practices become part of the calculation of the building’s value.” BOMA

Silicon Valley has long been known for leading innovation, and the city’s plan for going green will, it is hoped, become a prototype for other cities across the nation to emulate. At BOMA/Silicon Valley, the commitment to sustainability is equally fervent, with a strong and active Energy and Sustainability Management Committee formed in January, the adoption of BOMA International’s 7-Point Challenge in February and the kick-off of a series of green edu-

3. Receive 100 percent of electrical power from clean, renewable sources. 4. Build or retrofit 50 million square feet of green buildings. 5. Divert 100 percent of the waste from landfill and convert waste to energy. 6. Recycle or beneficially reuse 100 percent of wastewater (100 million gallons per day). 7. Adopt a General Plan with measurable standards for sustainable development. 8. Ensure that 100 percent of public fleet vehicles run on alternative fuels. 9. Plant 100,000 new trees and replace 100 percent of streetlights with smart, zero-emission lighting. 10. Create 100 miles of interconnected trails.


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May/June 2008

CONFERENCE EDUCATION: Driving Value in Existing Buildings

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present...

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The BOMA International Conference & The Office Building Show June 22-24, 2008 | Denver, Colorado

Meet one of the masterminds behind the BOMA International Conference education program.

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e sat down with Lorie Damon, vice president of education and research at BOMA International, to ask her what’s new with this year’s education program. Her answers might surprise you. Editor: What hot issues are addressed in this year’s program and how did you identify those issues? Lorie Damon: The five most significant issues for this year are the questions that everyone in the industry is grappling with in one way or another. 1. First and foremost, how do you manage your asset so you can protect and grow your NOI in the current market? 2. How do you attract, retain and develop talent? 3. How do you approach and pay for sustainability? 4. How do you find and secure new business? 5. How can you leverage technology to create a competitive advantage or compensate for staffing shortfalls? These top-five issues have been at the forefront of my discussions with our Education Advisory Council, and have been echoed in meetings of BOMA’s National Advisory Council and Regional Owners Council. These are complex issues and BOMA’s members and its various committees are grappling with them in very sophisticated ways—from the regulatory and code side to the best practice and problem solving side. BOMA just has an amazing pipeline of highly intelligent, successful people in its membership—active both locally and internationally—who contribute to the direction of this conference program.

We also keep our ear to the ground by reading relevant industry trade publications, reviewing the latest market forecasts and networking through the top consulting groups serving the industry. Plus, we take a look at what’s happening in other industries in and effort to determine what changes elsewhere will ultimately affect commercial real estate. Editor: How do you select speakers and who are some of the most important this year? Lorie Damon: The first priority is to make sure all of the most important industry challenges are covered from every angle. We’ve identified five key issues, so we created five tracks to address those issues— Enhancing Asset Value, Building a High-Performance Team, Achieving Lorie Damon, PhD, Vice President Sustainability, Education and Research for BOMA International (continued on next page)


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BOMA

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Exploring New Business Opportunities and Optimizing Technology. We received exceptional submissions through our Call for Presentations this year and several of the speakers were selected on the strength and breadth of their submission. Then, for topics that were not addressed through the submissions, we went out to the best and brightest experts from all across the business community and invited them to present. We have a faculty member from Harvard Business School, Professor Frank Cespedes, talking about high-performance business cultures and how to create one. We have leaders from commercial real estate firms, large and small, who are making sustainability a driving force for asset value. The firms represented include Cushman & Wakefield, Transwestern, CB Richard Ellis, and Melaver, Inc. Then, from the larger business community, we have some of the best known economists and forecasters for commercial real estate assets, Dr. Glenn Mueller, PhD of the Dividend Capital Group and Chris Lee of CEL & Associates. While Glenn and Chris are well-known in the industry, every speaker on the program has something valuable to offer.

Your Whole Team Should Attend

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very year, people tell me, “I want to go to everything at once…there are too many good sessions and I can’t get to them all.” My response is always the same. Bring more people. There is too much happening for one person to absorb and there is no reason to miss out. This really is a program designed for your entire team. The more you invest in it, the more you’ll get out of it. With team registration discounts for the conference and free admission to the tradeshow, it makes good business sense to bring your whole team.

Editor: This year’s tracks are a little different than previous years. Why the change and what are the key takeaways? Lorie Damon: Every year, it’s important to organize the program around the biggest challenges and opportunities in the industry that are out there right now. In 2002, when I first started spearheading this process, the number one issue was emergency preparedness. Now, while emergency preparedness is still important, it is one of many “number one” issues. This year’s program is about this year’s most pressing challenges. The program is designed as the optimal forum for the industry to share intelligence around the key issues that will carry us through 2008 and into 2009. Anyone who attends these sessions is guaranteed to walk away with a handful of ideas, tactics and tools to deploy in the short-term. There is a heavy emphasis on case studies so you can hear from people who faced a real-world problem, researched possible solutions, chose a plan of action and measured the outcome. These sessions are geared to attendees with a variety of backgrounds because the ideas are adaptable regardless of your level or the type of firm you serve. The other key takeaway that cannot be emphasized enough is the face-to-face interaction and relationship building that goes on during these sessions and throughout the conference and The Office Building Show. You’re going to walk away having built a vital network of problem-solvers— people you can use as a sounding board for all kinds of ideas and situations. This program is not about handouts and talking heads. It’s about interacting with some of the most intelligent minds in commercial real estate who are not just at the podium, but also in the audience and on the tradeshow floor. Editor: You’ve been integral to planning these programs for more than five years. What do you see as new and exciting? Lorie Damon: We’ve been able to mirror the dynamism in the industry—it’s that continual change that makes commercial real estate and my job so exciting. Plus, ours is an industry that recognizes the importance of working together to address challenges and create best practices. Our members and our attendees recognize the benefits of publicly engaging other smart individuals in an ongoing dialogue. This is a great transformation because… I The speed of commercial real estate is increasing very quickly. I These challenges don’t occur in a vacuum and can’t be solved in one.

I Leveraging ideas and best practices from others can lead to a custom strategy that you didn’t have to invent from scratch. Ultimately, collaboration is the key to staying competitive in this market.


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Editor: There seem to be a lot of mixed signals about the current market. Lorie Damon: These are the best of times and the worst of times, to borrow a phrase from Dickens. The market is at a critical inflection point. Even for executives who have been through a number of market cycles, there is a sense that this cycle is different. There are questions about the real estate fundamentals. Have they changed? Are they enough? When the news about the Bear Stearns bail out for $2 a share broke, I expected to see an influx of analysis about how the ripples would affect commercial real estate. I didn’t receive a single thing, and I think it’s because no one is quite certain what this will mean. There will be backflow, we just can’t predict it. And the bad news from Wall Street is not over. The fallout in the capital markets is of huge concern. The human capital market is of equal concern. We’ve known this shortfall of qualified talent was coming for the last 40 years…well, the sleeping giant is awake and we’re beginning to feel the impact. The competition for talent will grow to proportions we’ve never experienced before. That means the pressure to distinguish your company as a best-in-class place to work is keener than ever. It also means unprecedented advancement opportunities for the people who are sharpening their skills and building their network. When capital was chasing commercial real estate, we had different challenges. The competitive bidding made it difficult to find the right pricing to make the kind of profit you needed. Now, we’re in the situation where so many companies bought assets at low cap rates and now they’re struggling to meet their profitability expectations laid out in their pro forma. They’re looking to the building management firms to cut expenses and they’re really rethinking the entire enterprise in order to accomplish their investment goals. Sustainability holds a lot of promise for these folks. But in order to reap the profit, you really have to avoid making any costly mistakes. There are no 5-minute solutions to these problems and you can’t solve them in a vacuum.

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May/June 2008

The Tradeshow: Hard-SOLVE, Not Hard-Sell

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he Office Building Show is the place to find out how to implement strategies and build the relationships you need to achieve operational excellence and sustain your business through this challenging market cycle. The products and services you’ll find there reflect the comprehensive needs of all types of commercial real estate. Attending is the most efficient way to research and compare the top service providers in just about any product or service category. Forget the hard-selling environment you expect from most tradeshows. The Office Building Show is not your typical tradeshow. You’ll have ample time and the ideal environment to build cooperative relationships with the product and service providers who can help you solve the challenges of today’s market. Take a look at the impressive list of exhibitors in the next few pages.

Editor: But what I really want to know is…will attending be worth the time out of the office and the money out of my budget? Lorie Damon: This is an investment to evaluate just like any other investment. I haven’t uncovered a single commercial real estate firm that is not grappling with these issues and I haven’t spoken to a single commercial real estate executive who has the time to research all of these issues and hatch a great solution to some of these challenges. Through the process of building this program, we’ve done all that research for you…with the added value of a peer network who can answer questions and make you aware of any pitfalls you should avoid. This is a one-stop shop for solutions that will drive performance in your buildings. Even small improvements to any one of these areas will make attending worthwhile. I Improve your conservation and recycling programs for

“This is a one-stop shop for solutions that will drive performance in your buildings,” says Damon.

water, energy and even construction materials.

I Get specific strategies for positioning your company as the ultimate workplace, regardless of your size, location or compensation package. (continued on next page)


4

BOMA

May/June 2008

What Does It Take to Drive Value in Your Your Buildings? o excel in this market, achieving sustainability on its Tbusiness own is not enough. You need to be driven by the case for green and you need to employ an entire suite of strategies to achieve triple bottom line success. This year’s program delivers exactly what you need…the top experts, real case studies and five value-driven tracks... Achieving Sustainability Sustainability isn’t just an operational practice. It’s a whole new strategy for running the real estate enterprise— especially with existing buildings. Sustainability marks the convergence of best-in-class operational practices with strategic deployment of capital and other resources to achieve a triple bottom line. Building a High-Performance Team Plugged in and powered up—not your building equipment—your management team! In the face of demographic shifts and tightening talent pools, it’s time to rethink the human capital asset management plan—recruiting, retaining, developing and training—and maximize ROI on talent.

Enhancing Asset Value Changing market conditions mean that the fundamentals are back and with them are new challenges for achieving better NOI—not just Net Operating Income, but New Operating Initiatives—for emergency preparedness, tenant satisfaction, energy management, controlling risk, and making your sure your asset meets its owner’s goals. Exploring New Business Opportunities Prepare yourself for those new opportunities in emerging market sectors like mixed use, new locations (foreign ports of call), or new industry dynamics that can generate new business for you. Optimizing Technology Time to build your building’s IQ! Optimizing technology isn’t about having new bells and whistles. It’s about getting the bells and whistles to work together—in perfect harmony. Integration leads to optimization.

Complete program and registration details are available at bomaconvention.org. Want to talk? Call 202-326-6331. I Find ways to leverage your building operations to actually add value to your properties—that’s everything from improving your tenant relations plan to drafting a new emergency preparedness plan because today, insurers will underwrite it more cost effectively than before. I Identify new sources for potential business—or be prepared for new kinds of opportunities, such as mixed use projects.

I Be more strategic about deploying technology in your properties. I’m not talking about ripping everything out and installing the newest, fanciest intelligent building systems available. This is about being the “MacGyver” of all commercial real estate executives…finding innovative, resourceful ways to leverage what you already have, add what you need and get everything to work together for the best results. There are people at this conference who would give MacGyver a run for his money and there are exhibitors in The Office Building Show who can help you accomplish just as much.

And as with any evaluation, you must take into account the opportunity costs of not attending. Can your building afford for you not to be here? Editor’s note: There’s a registration option to fit everyone’s schedule and budget. To find out what works best for you and your team members, check out bomaconvention.org.


40

Convention Preview

BOMA

May/June 2008

Exhibitors at The Office Building Show 2008

as of April 1, 2008

Exhibiting As

Booth Number

2-D As-Built Floor Plans .....................................151 360Facility ..............................................................509

A

Do the math... Cost for equipment + cost of regularly scheduled maintenance Estimated life Cost for equipment Breakdown expectancy due to lack of reliable maintenance

You can’t change what you can’t measure.

Booth Number

August Supply, Inc. .........................................................440 Avian Flyaway, Inc. ..........................................................646

B

Able Services ..........................................................524 ABM Family of Services.........................................702 Access Products Inc. ....................................................415 Accucut ...................................................................416 Acoustic Enterprises Inc. .................................................472 Acuity Brands Lighting.................................................716 Aduddell Restoration........................................................411 Air Zone International......................................................466 Albany Door Systems.......................................................137 AlliedBarton Security Services.........................................902 Ambius..............................................................................267 American Anchor..........................................................123 American Building Calculations.....................................543 American Heart Association.............................................407 American Leak Detection, Inc........................................265 American Restoration, Inc. .............................................427 Angus Systems Group......................................................301 AQUIS..............................................................................659 Arcalux Corporation.........................................................533 Archetype 3D ...................................................................408

Which makes better sense to YOUR bottom line?

Exhibiting As

MainBoss™ is a Thinkage Solution

1-800-563-0894 www.mainboss.com At Thinkage™, we develop and support solutions that help busy facilities meet and exceed their maintenance challenges.

B2B-TV.TV.........................................................................402 Bartlett Tree Experts.......................................................750 BASF Wall Systems............................................................344 BELFOR USA Group, Inc. ..............................................648 Belimo Aircontrols (USA), Inc. ......................................1024 BICSI..............................................................................220 Blue Book, The ..................................................................647 BMS Catastrophe ............................................................1016 Bobrick Washroom Equipment, Inc. ...............................540 BOCA Group International, Inc. .....................................234 BOMA Central................................................................740 BOMA Energy Efficiency Program (BEEP).................572 BOMA/Philadephia. ..........................................................734 BOMI International...........................................................830 Books Are Fun....................................................................410 Braun Construction Services...........................................1040 Brickman ............................................................................736 Building Engines, Inc. .......................................................758 Building Operating Management.....................................834 Buildings magazine ........................................................640

C Captivate Network...............................................................848 Cardiac Science Corporation.............................................833 Carl Walker, Inc..............................................................541 Carlisle SynTec Incorporated.............................................260 Carpet & Rug Institute, The ..............................................168 Cascade Water Services......................................................944 Chem-Aqua, Inc..............................................................815 Chemworks Filtration.......................................................1039 Cintas Corporation.............................................................715 Cion.....................................................................................616 COIT Cleaning and Restoration Services.......................1028 Community Environment Alliance................................321 Computerized Elevator Control........................................912 Controlled Release Technologies ......................................474 Core 7 US, Inc. ...................................................................516 Corporate Express...............................................................165 Corrigo, Inc.........................................................................847 Cotton...................................................................................442 Coverall Cleaning Concepts...........................................202 CPFilms Inc........................................................................564 Critical Power Exchange....................................................268

D D&G Services, Ltd. ............................................................939 Day & Zimmermann..........................................................342 Denver Water......................................................................169 Disaster Services..................................................................229 DK Haney Roofing .............................................................375 Dome-Tech Group, A UTC Power Company..................475 Advertisers in this issue of The BOMA Magazine

continued on page 42


&

43 41 present...

Every >

The Office Building Show June 22-24, 2008 | Denver, Colorado

GREEN PAVILION

h ENTRANCE


BOMA

42 Exhibiting As

May/June 2007

Booth Number

Dri-Eaz Products, Inc. ........................................................205 Dryvit Systems, Inc. ............................................................858

E Eflection, Inc........................................................................409 Eklund’s, Inc. .....................................................................1036 Electronic Buildings Group ................................................221 Emergi-Lite (Thomas & Betts)............................................302 E-Mon ...............................................................................274 Escalator Cleaning Company, The....................................240 Excel Dryer Inc.................................................................262

F Facility Wizard Software......................................................745 FacilityLogic.........................................................................421 Federal APD, Inc. ...............................................................857 Filtration Group/Filtrair......................................................620 Fire Alarm Services, Inc. ....................................................227 Flexible Lifeline Systems, Inc. .........................................1044 FLIR Systems.......................................................................271 Fujitec America, Inc. ......................................................501

G Genea ...................................................................................464 Genesis Air, Inc. ..................................................................859 Georgia-Pacific Commercial...............................................358 GOJO Industries, Inc ..........................................................570 Goodwill of Central Arizona...............................................425

Exhibiting As

Booth Number

Graebel Companies, Inc. ..................................................349 Grainger .............................................................................518 Green Building Initiative...................................................471 Green Seal..............................................................................1 Guardsmark, LLC..............................................................515

H Haworth ..............................................................................458 Haynes Mechanical Systems..............................................167 HD Supply..........................................................................933 Healthy Buildings International, Inc. ...............................326 Heating & Plumbing Engineers, Inc................................315 Highland Products Group.................................................113 Hillmann Group, LLC......................................................308 Homeyer Consulting Services, Inc...................................842 Honeywell Fire Systems....................................................418 Houghton Chemical Corporation.....................................316 Hubbell Building Automation...........................................929 Huguenot Laboratories.......................................................157 Hurley of America..............................................................663

I INNERFACE Architectural Signage, Inc. .......................643 InstaKey Security Solution...............................................1011 Institute of Real Estate Management................................720 International Code Council ..............................................746 International Window Cleaning Association................519 continued on page 44


BOMA

44

May/June 2007

Exhibiting As

Booth Number

INTERSTATE..............................................................................110 ISS Facility Services Inc. .............................................................930

J Jani-King International, Inc. ...................................................334 JLG................................................................................................134 JohnsonDiversey Inc. ..................................................................615

K Kemper System, Inc.................................................................328 Kimberly-Clark Professional....................................................802 KIMCO Corporation...................................................................836 Kings III of America, Inc. N.A.....................................................430 KONE Inc....................................................................................204

L Lakos Separators and Filtration Systems.....................................940 Landscape Concepts Management, Inc. ...................................225 Laro Service Systems, Inc............................................................530 LasertechFloorplans.................................................................835 LAZ Parking..................................................................................333 Lerch Bates Inc. ...........................................................................420 Life Safety Services, LLC.............................................................419 Lynn Safety, Inc. ..........................................................................143 nextGen

8/1/07

12:53 PM

Page 1

Exhibiting As

Booth Number

M MACH Energy ...............................................................................272 Mathias Lock & Key.......................................................................242 Matting By Design..........................................................................747 McClancy Access Systems..........................................................665 MicroBlend Technologies, Inc. ....................................................222 Mid America Metals.......................................................................845 Mid-Continental Restoration Company, Inc...............................139 Mohawk Group, The .....................................................................817 More Prepared LLC.......................................................................534 Motion Control Engineering, Inc. ...............................................840 MRSA Architects & Planners........................................................122 Munters Corporation.....................................................................401

N Nalco Company.......................................................................... 624 Next Parking, LLC...................................................................... 215 Nu Flow America.................................................................... 571

O Oak leaf Waste Management..................................................... 159 Off Duty Services..........................................................................1046 Office Media Network....................................................................757 continued on page 46

Griswold Controls Puts You in Control... Now and for the Next Generation

Griswold Controls’ Next Generation products address the changing environment and marketplace, providing: • Resistance to today’s chemical treatments • Protection from temperature fluctuations following system evening shutdown • External stem accessibility allowing for field servicing without removing the valve You have control for now and for the future with Griswold Controls’ Next Generation products.

For more information call

1-800-838-0858 or visit our web site at www.griswoldcontrols.com


BOMA

46

May/June 2007

Exhibiting As

Booth Number

Orkin Commercial Services.........................................................119 OSRAM SYLVANIA.....................................................................816 Otis Elevator..................................................................................602

P Pace Compumetrics, Inc. ..........................................................1052 Patriot Clean Fuel ........................................................................943 Pavement Network, The...........................................................566 Pentagon Protection USA ............................................................658 Pepco Energy Services...............................................................372 Physio-Control...............................................................................304 Power Efficiency Corporation..................................................345 Predictive Service, LLC ...............................................................444 Pro-Bel Enterprises Limited.....................................................829 Procter & Gamble ........................................................................558 ProfitStars, A Jack Henry Company...........................................1043 ProTeam, Inc. ...............................................................................374 PureChoice, Inc. ..........................................................................359

R Rainbow International...................................................................544 Reidy Metal Services, Inc. ...........................................................650 Remlu, Inc. ...................................................................................660 RGF Environmental Group........................................................657 Rytec Corporation ........................................................................424

Exhibiting As

Booth Number

S S-5! ........................................................................................631 SaniGLAZE International....................................................1020 SCA Tissue ...........................................................................563 Schindler Elevator Corporation..............................................710 Schneider Electric, PowerLogic..............................................339 Sealant, Waterproofing & Restoration Institute.....................131 Securitas Security Services USA, Inc. ...................................608 Security Forces, Inc. ...............................................................632 ServiceMaster Clean...............................................................724 Servidyne..................................................................................172 Servpro Industries, Inc. .......................................................340 Siemens Building Technologies, Inc.....................................816 SIGNARAMA National Accounts.......................................1012 Sika Sarnafil Inc. .....................................................................266 SimplexGrinnell.......................................................................539 SKYLINE Software..................................................................529 Snow Dragon ...........................................................................219 Solutionz Conferencing, Inc. ................................................629 Spartan Chemical Company, Inc. .....................................567 Strategy Groups........................................................................458 StrionAir Inc. ...........................................................................317 Stuart Dean Co., Inc. .............................................................439 SUEZ Energy Resources NA..................................................161 continued on page 48

National energy prices

Your business’s energy prices Shocked by fluctuating energy prices? Pepco Energy Services Can Ensure a Brighter Future. Our risk-averse management and customized contracts for businesses ensure fixed low rates, no matter how high electricity prices rise. Contact us now for a free appraisal. We’ll show you how we can help you keep your electricity budget more manageable while reducing your overall costs and improving your bottom line. Email us at energy@pepcoenergy.com to learn more about our services.

© 2008 Pepco Energy Services, Inc. All Rights Reserved.

1.800.ENERGY.9 www.pepcoenergy.com


BOMA

48

Exhibiting As

May/June 2007

Booth Number

Sunbelt Rentals........................................................................101

T Technical Concepts.................................................................730 Tecta America Corp................................................................404 Thinkage Ltd. ......................................................................844 Thomson Tax & Accounting...................................................719 ThyssenKrupp Elevator........................................................916 TRANE ................................................................................574 TRS, Inc. .................................................................................468

U UGL Unicco.........................................................................508 UMS Advisory, Inc. .................................................................748 Universal Lighting Technologies, Inc. ...................................942 Universal Protection Service................................................822 U.S. EPA ENERGY STAR®....................................................568 U.S. General Services Administration....................................507 U.S. Green Building Council..............................................163 U.S. LAWNS ........................................................................434

V

Exhibiting As

Booth Number

W Wausau Paper/Bay West Paper............................................158 Westcoast Innovative Pro-Pads............................................542 Western Construction Group .............................................217 Whelan Security Co. ..........................................................632 Wiss Janney Elstner Associates, Inc. ..................................639 Workspeed............................................................................723

X Xtralis, Inc............................................................................618

Y Yardi Systems, Inc................................................................502

Z Zinsser Co., Inc. ..................................................................860 Zipcar...................................................................................319 ZOLL Medical Corporation...............................................443 Zurn Engineered Water Solutions......................................365 (The BOMA Magazine cannot guarantee the accuracy of all listings.)

ValleyCrest Companies, Inc. ..................................................548 Vendome Group, LLC .........................................................1041

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50

BOMA goes to Capitol Hill By Laura Horsley

B

OMA members from across the country took commercial real estate’s message straight to national lawmakers on Capitol Hill during the National Issues Conference (NIC), held March 10-11 in Washington, D.C. BOMA members met with legislators on several key industry issues and asked senators, representatives and their staff to:

as ordinary income. • Support tax incentives for energyefficient commercial buildings. • Support legislation to address the disruption in the catastrophic insurance market. • Join the Congressional Real Estate Caucus.

Opening Luncheon speaker and NBC News Political Director Chuck Todd gave attendees at NIC an insider ’s glimpse into the hard-fought democratic primary races and the upcoming presidential election, saying the current democratic race will be remembered as “the great BOMA Vice Chairman Jim Peck, Chairman Brenna Walraven, Rep. Michael Clinton-Obama Turner and Incoming Chairman Dick Purtell. showdown,” and that, despite some reluctance • Support legislation to permawithin his own party, “McCain nently reduce the timeline for keeps republicans competitive” depreciating leasehold improveagainst either democratic candidate ments to 15 years. in the national election. • Support further extension or Representative Michael Turner make permanent the reduced (R-Ohio), co-chair of the Congresrate on capital gains. sional Real Estate Caucus, thanked • Maintain current law that taxes BOMA members for the expertise carried interest as a capital gain they bring to Congress on real estate and oppose any efforts to change issues, and encouraged attendees the tax code to require it be taxed

NBC News Analyst Chuck Todd.

to “remain active to grow the association and its impact.” Rep. Turner addressed brownfields issues, telling attendees that there needs to be more tax credit incentives to clean up brownfields and, in turn, revitalize disadvantaged communities. “Communities suffer when brownfields just sit,” said Rep. Turner. “These tax credits would put business right back into our downtown urban areas.” NIC attendees also heard from Rep. Ron Klein (D-Fla.), who spoke on several issues critical to commercial real estate, including the need to extend the 15-year depreciation period for leasehold improvements and tax incentives for sustainable and/or energy-efficiency retrofits for commercial buildings. Rep. Klein, who serves on the House Financial Services Committee (which has jurisdiction over terrorism risk and catastrophic risk issues), discussed the creation of a national risk catastro-


51

efficiency upgrades,” said Kauffman. Carried interest was another issue that received interest from lawmakers. The BOMA team from Washington State found that many of the aides they talked with knew about tax treatment on carried interest, but were less aware that it is a commercial real estate issue. “The more we can do to explain the damage a change in the tax treatment would mean to commercial real estate the better,” said Kauffman. “Two of our memberadvocates, Tom Sante and Todd Woosley, explained how anything that slowed or reduced the number of transactions of commercial real estate would hurt local tax revenues due to a reduction in local excise taxes which are critical to local governments.For more information on how you can help bring commercial real estate’s message to lawmakers on Capitol Hill or in your own backyard, visit BOMA’s Legislative Action Center at (www.cap wiz.com/boma/home/). Learn more about BOMAPAC at (www.boma.org/Advocacy/ BOMAPAC). BOMA

bers a chance to discuss how their lobbying efforts were received and any feedback they received from lawmakers. BOMA members attending the National Issues Conference praised the significance of face-to-face time with legislators and regulators. “You don’t realize the value of NIC until you come to one,” said Steve Hrbeck, RPA, secretary/treasurer with BOMA/Suburban Chicago. “This is one of the best things BOMA does for its members.” Rep. Ron Klein (D-Fla.) addresses NIC attendees. Rod Kauffman, RPA, BOMA Association Executive the Terrorism Risk Insurance Act of BOMA/Seattle King County (TRIA) extended in 2007. reported that the six-member Stephen M. Renna, senior vice team from Seattle and Spokane president & counsel, Real Estate were able to meet with represenRoundtable, helped prep BOMA tatives from all nine Washington members for their Capitol Hill visits by fleshing out the complexities of many of commercial real estate’s most pressing issues – including carried interest tax on partnerships, which is in danger of being taxed as ordinary income instead of capital gains to pay for Alternative Minimum Tax (AMT) relief. Renna told attendees to educate lawmakers by reminding them that … BOMA/Seattle King County President Rod • Carried interest is a main street Kauffman makes a point during the NIC. issue, not a Wall Street issue. State Representatives plus both • 50 percent of all partnerships Senators. Kauffman noted that are real estate partnerships. in-depth conversations regarding • $1.3 trillion is invested through BOMA issues occurred with Washpartnerships that use carried ington Reps Cathy McMorris-Rodinterest. gers, Dave Reichert and Jay Inslee. • The resulting capital shift Kauffman also noted that they would mean a $20 billion loss heard from several aides and of value for the economy overlawmakers that some type of tax all. extender is likely to happen, that leasehold depreciation is a good Other NIC highlights included bet, and that BOMA’s energy effithe “How to Lobby” workshop, ciency platform was well received. where BOMA staff briefed attend“It was obvious that all offices ees on the “do’s” and “don’ts” of were on board with tax incentives lobbying and strategies for comfor energy efficiency measures municating key industry issues to since it is Washington State Rep. Congressional members and their McDermott’s bill to raise the $1.80 staffers. A debriefing after the Capto $2.25 tax incentive on energy itol Hill visits gave BOMA memphe pool to insure against natural disasters. BOMA Vice President of Advocacy Karen Penafiel thanked Rep. Klein for his help in getting

Help BOMA bring commercial real estate’s message straight to Capitol Hill legislators and in state and local jurisdictions across the country by supporting BOMAPAC, BOMA International’s political action committee. BOMAPAC enables BOMA International’s advocacy team to raise money to re-elect political candidates for federal office who know and understand – and support – real estate’s issues. Your contribution, combined with the donations from your BOMA colleagues from across the United States, will help ensure that BOMA International has the power to back those members of Congress who show leadership and commitment to commercial real estate issues. For more information about BOMAPAC and on how to contribute, visit www.boma.org/ Advocacy/BOMAPAC.


52

Enhance your business case for energy-efficiency improvements By Deborah Cloutier

C

ase studies from top organizations around the globe increasingly make the business case for sustainable building operations. With the growing demand from tenants and the increasing legislative mandates for low-carbon-emitting buildings, it is more important than ever to make smarter, more-informed investment decisions regarding energy-efficiency improvements. The question becomes: How to best execute on such strategies? Effective execution

but they are not broad enough to provide sufficient information for the best decision-making. For example, if no efficiency improvements were contemplated at the time of purchase and the payback is greater than one year, often such upgrades were not approved. Conversely, when return on investment, risk and time value of money are considered, often energy-efficiency upgrades are shown to be very prudent. The key answer to “how to better execute” begins with changing how

The Building Upgrade Value Calculator (BUVC), developed as part of the BOMA Energy Efficiency Program (BEEP), estimates the financial impact of proposed energy-efficiency projects. requires proper financial analysis and an appropriate understanding of the value proposition for sustainable efforts, including the financial, social and environmental impacts of these improvements. Often, energy-efficiency investment decisions are based on simple financial metrics, such as simple payback, cost relative to budget or the building’s pro forma. These analysis methods may be valuable,

we view energy-efficiency upgrades. A building upgrade is more than an equipment enhancement – it is a business enhancement, so it should be evaluated in the same way as any other business investment. This means expanding the analysis to include the same financial metrics used in other business enhancement strategies (such as net present value [NPV], net operating income [NOI], return on investment [ROI]

and internal rate of return [IRR]) in order to get a view over the life of the investment and understand its impact on business value. Further, unique to energy-efficiency upgrades, it’s also important to measure total energy savings and the associated impact on asset value, operating expenses, tenant comfort and environmental performance. “As many of us aren’t used to calculating IRR or NPV, preparing these analyses and associated calculations can seem burdensome and time-consuming,” says Brenna Walraven, managing director of national property management with USAA Real Estate Company. “Fortunately, there are tools that make this process painless.” According to Stuart Brodsky, U.S. EPA’s national program manager for commercial property markets, “Through our partnership with BOMA International and the BOMA Foundation, we developed a tool that makes it easier for real estate practitioners to perform investment analysis – demonstrating how the ENERGY STAR® program successfully works with the industry to overcome multiple market barriers to greater energy performance.” The Building Upgrade Value Calculator (BUVC), developed as part continued on page 54


BOMA

53


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of the BOMA Energy Efficiency Program (BEEP), estimates the financial impact of proposed energy-efficiency projects. As founding chair of the BEEP task force and a key contributor to the design of the tool, Walraven has insight into the tool’s range of capabilities. “It calculates the relevant financial metrics to help you determine the financial viability of the investment and presents them in an easy-to-understand format. Its Excel-based plug-and-play design makes it user-friendly, even for those of us who are not spreadsheet or analytical experts. The BUVC even automatically inputs your results in a form letter, downloadable in a Microsoft Word format, that aids in communicating the findings to asset managers, owners and other decision-makers.” Real estate professionals involved in large-scale initiatives like the Clinton Climate Initiative (CCI) have discovered the BUVC’s usefulness and breadth of applicability. It brings to the table an enhanced view of project cost analysis, giving you what you need to make your investment decisions under tight time constraints. It takes the grunt work out of the financial analysis

and allows you more time to focus on selling the needed changes to your building owners. Based on a property-level energy assessment, a real estate profes-

use in conjunction with the BUVC, as you set up an energy management plan and identify upgrades needed in your building. Along with financial metrics, the BUVC also projects how the energy upgrade will impact the building’s ENERGY STAR performance rating. To establish a rating, you first benchmark energy performance using the EPA Portfolio Manager (www.energy star.gov/benchmark). The rating system allows you to objectively compare your energy performance against the market. Those properties with ratings above 75 (on the 1 to 100 rating scale) are performing in the top 25th percentile of the market and may be eligible to earn the ENERGY STAR Label. To make it easy to truly understand the financial and environmental impacts of increased energy efficiency, these tools – along with others provided by programs such as ENERGY STAR and BEEP – are guides for enhancing your ability to more effectively understand and communicate the benefits of improved energy efficiency. The

A building upgrade is more than an equipment enhancement – it is a business enhancement, so it should be evaluated in the same way as any other business investment. result is a streamlined method for making decisions about managing energy use and improving performance. “We all have the ability to evaluate and improve the energy efficiency of our buildings,” remarks Walraven. “But we need to use the tools and resources available that strengthen the business case and allow for effective implementation and execution of energy-efficient strategies. The BUVC is a great tool to do this.” About the Author: Deborah Cloutier is a principal and co-founder of JDM Associates, LLC and has more than 15 years of experience providing consulting services in the areas of commercial real estate, energy management and environmental consulting. She can be reached at dcloutier@ jdmgmt.com. BOMA

sional is able to determine which upgrades would be most beneficial. Investments should be made only after no- and low-cost measures are implemented to reduce overall energy loads to the lowest appropriate levels and as part of an organization’s broader energy management plan. Savvy practitioners carefully assess opportunities in the context of other key steps, such as establishing an energy management team, benchmarking on ENERGY STAR to understand your building’s energy use, setting energy-efficiency goals, initiating an action plan and evaluating progress. The ENERGY STAR Guidelines for Energy Management and Building Upgrade Manual are free resources to


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4/17/08 2:07:40 PM


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Full Page ad PDF sample.indd 1

4/17/08 2:09:01 PM


Four Great Companies One Common Goal To p r o v i d e U N M A T C H E D P e r f o r m a n c e a n d U N M A T C H E D Va l u e . Universal Protection Ser vice

Universal Protection Service ranks among the top ten Security Companies in the United States and is recognized as the premier security service provider in every market that we serve. Universal Protection Service offers an expansive range of security solutions for properties of every type including: • • • • •

Office Buildings • Corporate Campuses • Government Facilities • Mixed Use Facilities • High-rise & Low-rise Buildings

Retail Centers Industrial/Manufacturing Complexes Hospitals Gated Communities

UPS Fire/Life Safety Services Never is a competent, responsive security provider more critical than in an emergency. Universal Protection Service takes great pride in its Fire/Life Safety Program. Planning is a critical loss prevention step and vital to every business. Our comprehensive program includes: • • • • •

Emergency Plans Occupant Brochures Emergency Procedure Videos Fire/Life Safety Audits Business Recovery Plans

• • • • •

Floor Warden Training Floor Warden Manuals Fire Drills Crisis Action Plans Emergency Planning Seminars

UPS Security Systems

Automating critical security functions allows our customers to lower security expenses while improving the quality of service. UPS Security Systems, designs, installs and supports systems to fit every business environment. By working in concert, Universal and UPS Security Systems offers a comprehensive suite of automated security. • 24-Hour Customer Service Center • Access Control • Fire Alarm Management

• Remote Video Surveillance • Closed Circuit Television • Intrusion Detection

Universal Building Maintenance

Universal Building Maintenance employs a management team with over 100 plus years of industry experience, and has the expertise necessary to keep your facilities looking their best. Universal Building Maintenance is proud to boast that every project we clean is done in an environmentally preferred way, utilizing green cleaning processes, chemicals and equipment at every building serviced. Universal Building Maintenance is a member of the U.S. Green Building Council and has one of the most expansive “Green” cleaning programs available in the industry. • Office Buildings • Corporate Campuses • Mixed Use Facilities

' 2008 Universal Protection Service, Inc. PPO#14417 Full Page ad PDF sample.indd 1

• Retail Centers • Healthcare Facilities • Government Facilities

For more information call 1-866-UPS-1965 or visit www.universalpro.com 4/15/08 4:20:25 PM


FASTER TO ANY DISASTER. TIME is Everything.

Service Response Guidelines*

Within one hour from notice of loss, a SERVPRO® Franchise Professional will contact you to arrange for service.

Within four hours of loss notification, a SERVPRO® Franchise Professional will be on-site to start mitigation services.

SERVPRO7 Franchise Professionals understand time is money. To a business owner, time can be measured by the revenue lost after a business closes due to water damage. Every minute impacts you, your employees and families. To SERVPRO7 Franchise Professionals, saving you time and money is a priority. Technicians aim to help you restore continuity in your business as quickly as possible.

Within eight business hours of on-site arrival, a verbal briefing of the scope will be communicated to the appropriate person. *Service Response Guidelines – Exceptions may apply under certain conditions, such as a local catastrophic event or storm situation.

� You can be reassured with more than 1,400 SERVPRO7 Franchises servicing 48 states, someone is

nearby to help. � More than 10,000 trained Franchise personnel are available nationwide 24 hours a day, 365 days a

year to help get you back in business quickly. � More locations with more technicians help SERVPRO7 Franchise Professionals mitigate losses quickly.

Dial 1-800-SERVPRO for additional information or to locate a SERVPRO® Franchise near you.

1-800-SERVPRO Franchise Opportunities Available

Independently Owned and Operated

Like it never even happened. Full Page ad PDF sample.indd 1

®

4/16/08 2:20:34 PM


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4/17/08 12:49:34 PM


> Capture the

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Attending means building valuable, long-term relationships that make the industry’s most outstanding product and service providers your company’s best friend.

BOMA International Conference and The Office Building Show June 22-24, 2008 | Denver, Colorado butterfly effect (noun) 1. the idea that a small change in a complex system can have disproportionate, far-reaching effects over time, e.g., the small flutter of a butterfly’s wings in Rio de Janeiro sets off a chain reaction that changes the weather in Denver. Attending the BOMA Conference sets off a chain reaction that changes your career, your business, your industry...your world for the better.

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Leading the Way BOMA May/June 2008

Leading the way Sally Wilson Q: W

hen Sally Wilson, AIA, LEED AP, took on the newly created role of global director of environmental strategy with CB Richard Ellis (CBRE) in 2007, she assumed a key leadership role in CBRE’s pioneering “green” initiative to become the first major commercial real estate services firm to go completely carbon neutral – an initiative with an aggressive completion target of 2010. In this position, Wilson manages the strategy, implementation and communications related to CBRE’s global environmental programs. Her “green” speaking engagements include stops at USGBC’s Greenbuild and ULI’s Green Building Summit. She brings her insight on sustainability as a speaker at the upcoming BOMA International Conference in June.

Q: Less than a year ago, CBRE

announced plans to become the first major commercial real estate services firm to go completely carbon neutral, with a target date of 2010. How is that initiative going?

A: The initiative is going really

well so far. The first step in achieving our goal of carbon neutrality is to verify what our current footprint is. We’ve retained ICF to verify our footprint of 300-plus offices around the globe – roughly 5 million square feet of space – and we are adopting strategies to reduce that footprint. We are also implementing operational, management and procurement strategies to help reduce waste and energy consumption. From this experience, we are developing the expertise that can be passed on to our clients as they seek to green their companies. The next steps are to manage the implementation of new policies throughout our offices, and we are working hard to make sure each office is well-equipped to take on this initiative.

Can you tell us a little more about CBRE’s “Green Knights” Ambassadors and/or some of the other CBRE sustainability strategies and programs?

A: The Green Knights are a group

of Asset Services professionals that are located throughout the United States. These professionals are local contacts who know sustainable practices in and out. They manage buildings on a day-to-day basis, and serve in each market as a contact that can answer the many questions that come up when translating global and national sustainable best practices. They are really incredible people, and we have had a great number of volunteers to take on extra responsibility. Additionally, our Asset Services and Project Management groups each trained more than 100 professionals seeking LEED accreditation in 2007, and have even higher numbers estimated for 2008. The brokerage line has created a Sustainable Practice Group that focuses on representing building ownerships that have built LEEDcertified or other green projects, and which represents tenants interested in pursuing LEED for their own space. We also have an internal Learning Center that is developing sustainability training for each service line.

Q:

How do you approach sustainability globally? Do you transfer best practices?

A: We have the advantage of being

a truly global firm. Europe is clearly ahead of the Americas, and our London office is spearheading our environmental initiatives for that region. [The professionals there] are already pursuing ISO 14001, which is a management and operational designation. Their knowledge and experience is a great benefit to North America. There

are also positive efforts in Australia, where they’re doing great energy and water conservation work to deal with the climate crisis they face regionally.

Q: You will be participating in

BOMA’s upcoming sustainability panel – Market Transformation: Leadership + Operational Excellence = Green ROI at the BOMA International Conference. What should attendees expect to take away from that panel?

A: I will be discussing CBRE’s

efforts to make sustainability a priority, both internally and by advising our clients. We have a lot of great information on the impacts of buildings on the environment, as well as some of the ways that markets have begun to transform. There is a lot of information – you’ll have to come to the panel to learn the rest!

Q: Does green give a company or organization a competitive edge?

A: That’s what the real goal of

corporate responsibility is all about – effecting positive change for the world around you and for the company’s bottom line. There’s a “feel-good” level to what we’re doing, but at the same time, if we don’t start to mitigate climate change now, we’re going to have real issues that will affect real estate in the next two or three business cycles. This is a real business issue, and we will be better equipped than any of our competitors to advise our clients when they approach it. BOMA

76

TAKE NOTE Sally Wilson can be reached at sally.wilson@cbre.com.


78

Sector Watch BOMA May/June 2008

The healthcare debate Medical office building perspective By Stephanie J. Oppenheimer, APR

A

nyone who has listened to a presidential debate or read a newspaper over the course of the last few months knows that healthcare – its cost, its management and its availability to the average citizen – is an enormous issue in the United States, gaining status as one of the most critical planks of every candidate’s platform. The implications of what many consider a crisis extend to virtually every American (regardless of whether or not they hold health insurance), and also to the medical office building (MOB) sector of the commercial real estate industry. While anyone working in the MOB field may first think of themselves as a real estate professional, they also know that they need to be experts in the healthcare field as well. Without a solid understanding of what’s going on in the industry, it would be virtually impossible to deliver what hospitals, physicians and patients need in terms of the buildings where healthcare functions are performed. While the laundry list of issues affecting the healthcare industry could fill a book, there are perhaps three major trends: the rising cost to patients, the retailing of medical care and the overall financial health of the healthcare industry itself.

Rising costs

Healthcare costs in the United States are higher than anywhere else in the world … but, unfortunately,

we’re 48th in positive outcome. That means that we’re spending more and getting less. While some of the blame can be placed on patient behavior, certainly not all of it can be; Medicaid and Medicare cuts and increasing legislative scrutiny have resulted in a vastly changed reimbursement system for physicians and hospitals, resulting in a complicated system of “allowable charges” and co-pays that oftentimes means that the medical community is earning pennies on every dollar spent. “Reimbursement levels are steadily eroding, and as Medicare cuts its reimbursement levels again, which many project, the financial viability of our nation’s hospitals is only going to get tighter,” says Gordon Soderlund, senior vice president at DASCO Companies, a national medical real estate development company. “It seems that every hospital CFO I talk to tells me they’re losing more money on Medicare. Opting out of these federal programs is not an option if they want to retain their taxexempt status, so they need to find other ways to enhance revenue. The gap between what Medicare pays and the cost of the service may seem like it should qualify as ‘charity care,’ but even then, the definition of ‘charity care’ varies widely, and it’s almost always the hospitals taking the hit.” Looking to Congress for answers is unlikely to provide any shortterm solutions, as campaigning for

the presidential race has become allconsuming. And, even after that, it’s highly unlikely that any dramatic overhauls will occur anytime soon. “I don’t think our healthcare insurance system is going to change dramatically,” notes Soderlund, “and I don’t see universal healthcare working in this country. Many people have suggested we emulate Canada’s healthcare system, but after having lived in Canada for several years, I can tell you it’s far from perfect. Healthcare costs have resulted in exorbitant income taxes, and everyone heads to the emergency room whether it’s for a heart attack or a cold. Hospitals are on constant ‘bed alerts,’ and, once the beds are filled, ambulances chase around looking for open beds elsewhere. There’s not enough high-tech medical equipment available for scans, and some patients are sent to the United States for special services. It’s hardly the solution. And, even if we did try some version of it here, we simply don’t yet have the infrastructure to handle it. We’d need thousands more physicians, nurses and medical technicians, and it’s unrealistic that we could ramp up our healthcare system over a relatively short period of time.”

Minute clinics and the retailing of healthcare

This relentless march toward highcost healthcare has had some positive results, one of which is improving continued on page 80


79 Where does your candidate stand on healthcare?

Aligning incentives for excellence

n

• Shift payment to providers such that it’s not based on the volume of services provided, but rather on the quality or effectiveness of care. • Providers who see patients enrolled in the new public plan, the National Health Insurance Exchange, Medi‑ care and FEHBP will be rewarded for achieving perfor‑ mance thresholds on outcome measures.

The proposals put forward in the candidates’ planks could affect consumers, doctors, hospitals and healthcare facility owners and operators.

Hillary Clinton

Reporting

n

Accessibility

• Require hospitals and providers to collect and pub‑ licly report measures of healthcare costs and quality. Require providers to report preventable medical errors and support hospital and physician practice improve‑ ment to prevent future occurrences. • Health plans will also be required to disclose the percentage of premiums that go to patient care, as opposed to administrative costs.

n

• Require individuals to get and keep insurance in a system where insur‑ ance is affordable and accessible. • Employers will help finance this new system. Large employers will be expected to provide health insurance or contribute to the cost of coverage; small businesses will receive a tax credit to continue or begin to offer coverage.

Reducing Costs

n

• Proposes a tax cut for individuals and for businesses to make premiums affordable. • By removing hidden taxes, stressing prevention and focusing on efficiency and modernization, the plan will improve quality and lower costs. • The refundable tax credit will be designed to pre‑ vent premiums from exceeding a percentage of family income, while maintaining consumer price conscious‑ ness in choosing health plans. • A new tax credit for qualifying private and public retiree health plans will offset a significant portion of cata‑ strophic expenditures.

Barack Obama Accessibility

n

• Wants to expand accessibility to affordable health insurance but will not require it. n Reducing Costs • Lower costs through modernization, investing in electronic health informa‑ tion technologies. • Reimburse employer health plans for a portion of the catastrophic costs they incur above a threshold if they guarantee such savings are used to reduce the cost of workers’ premiums. • Increase competition in the insurance and drug mar‑ kets. • Strengthen antitrust laws to prevent insurers from over‑ charging physicians for their malpractice insurance and will promote new models for addressing errors that improve patient safety.

Improving Outcomes

n

• Support implementation of programs and encourage team care that will improve coordination and integra‑ tion of care of those with chronic conditions. • Require that providers that participate in the new public plan, Medicare or the Federal Employee Health Ben‑ efits Program (FEHBP) utilize proven disease man‑ agement programs.

John McCain

Accessibility

n

• Families should be able to pur‑ chase health insurance nationwide, across state lines to maximize their choices, and heighten competition for their business that will eliminate excess overhead, administrative and excessive compensation costs from the system.

Improving Outcomes and Reporting

n

• Make public more information on treatment options and require transparency of providers regarding medi‑ cal outcomes, quality of care, costs and prices. • Facilitate the development of national standards for measuring and recording treatments and outcomes.

Reducing Costs

n

• Reform the payment systems in Medicare to com‑ pensate providers for diagnosis, prevention and care coordination. Medicare should not pay for preventable medical errors or mismanagement. • Create competition by permitting providers to practice nationwide. • Pass tort reform to eliminate frivolous lawsuits and excessive damage awards. Provide a safe harbor for doctors that follow clinical guidelines and adhere to patient safety protocols. • Reform the tax code to eliminate the bias toward em‑ ployer-sponsored health insurance, and provide all in‑ dividuals with a $2,500 tax credit ($5,000 for families) to increase incentives for insurance coverage. Individu‑ als owning innovative multi-year policies that cost less than the full credit can deposit remainder in expanded health savings accounts.

Leveraging Technology and Innovation

n

• Promote rapid deployment of 21st century information systems. Where cost-effective, employ telemedicine and community and mental health clinics in areas where services and providers are limited. • Support innovative delivery systems, such as clinics in retail outlets and other ways that provide greater mar‑ ket flexibility in permitting appropriate roles for nurse practitioners, nurses and doctors.


80

Sector Watch BOMA May/June 2008

access via “minute clinics,” small outposts in retail settings where people can get treated for relatively common and minor health issues, such as flu shots, strep tests or just getting relief for things like coughs or bad colds. Wal-Mart is the most recent retailer to jump on the healthcare bandwagon; recognizing that patients are also bearing the brunt of exorbitant costs, the retailer recently announced that it plans to open 400 third-party, private “mini clinics” inside its stores. Convenience and easy access will, of course, be major draws, and, because WalMart is partnering with third-party providers and sometimes even with hospitals, its ability to provide care in an outreach setting is likely to be excellent. “I believe in letting the free market dictate costs and services, but when it comes to healthcare – a highly regulated industry – there has to be some control,” adds Soderlund. “We’re talk-

ing about people’s lives. So I see what Wal-Mart is doing as a good thing. Yes, some people may not want to associate healthcare with a deep-discount retailer, but there are plenty of people who simply don’t have much choice. This concept means that anyone who walks in the door of a participating Wal-Mart will have access to a clinic, and Wal-Mart can depend on brand enhancement, sales growth and more pharmacy business to keep the clinics profitable. And, in cases where WalMart has partnered with a local hospital, the relationship may drive referral business to the local hospital, which is beneficial as well. I think it’s great outreach.” On the flip side of the coin is a trend known as retailing in healthcare, in which hospitals are exploring ways to further extend a positive relationship with their patients. A hospital may, for example, put a hotel on campus for the families of cancer patients, or

an MOB may pursue a pharmacy tenant so that it can truly be a one-stop shop. Drug dispensary kiosks with commonly prescribed drugs have also become more common, whereby a patient receives a prescription card from his/her doctor, inserts it into the kiosk machine and out pops the meds with the prescribed number of pills. Convenience retail has also become increasingly common in hospitals and MOBs; it’s no longer unusual to see Starbucks counters, healthy-option fast food restaurants, ATMs and valet parking. The whole idea is to enhance visits, increase convenience and, by the way, capture as many dollars as possible.

The financial health of healthcare

The third major trend affecting the industry is, quite simply, its financial health. Reimbursements are not the only reason the healthcare industry is continued on page 82

• Plazas • Parking Structures • Buildings & Facades

Celebrating Our 25th Year—1983-2008 800-FYI-PARK carlwalker.com


Sector Watch BOMA May/June 2008

struggling, and gaining some dollars from a Starbucks tenant is obviously not going to be a cure-all. One issue of concern is a potential moratorium on longterm acute care (LTAC) facilities. The general idea behind LTACs is to allow hospitals to transfer post-acute-care patients, whose average recovery time is a month rather than a typical hospital’s four- to five-day length of stay, out of the hospital and into LTAC facilities to free up hospital beds for others in need. It has worked well for years, but Congress has recently been taking a close look at LTACs, noticing high reimbursement levels and seeing it as another potential area to cut reimbursements and save federal dollars. It’s something that everyone in the industry should watch closely. Monetization trends are also grabbing attention, as hospitals are selling non-core real estate assets to a third party, but still retaining ground-lease controls that dictate what type of tenant and service can be housed there. It’s an attractive option for hospitals, as they can use the cash from the sale to improve the hospital, yet retain control over what goes on in the building to ensure that the competition can’t move in. “We see these kinds of transfers all the time,” explains Soderlund, “and it’s really not a surprising trend. The hospitals don’t want to be landlords, or they don’t want the buildcontinued on page 84

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Sector Watch BOMA May/June 2008

ings on their balance sheet anymore … but by selling to an experienced third-party owner/operator, they can still use the space – the hospitals are oftentimes the biggest tenant – and they can have a first right of refusal should the third party ever decide to sell the building. The hospital can also take advantage of the developer’s capital and development expertise to build new facilities without the use of its own capital. It’s a win-win.” One last point to consider is the issue of the “haves and the havenots,” in terms of hospitals having access to capital and the ability to invest in core facilities. In short, the gap is widening between hospitals that have strong balance sheets and access to capital with those that do not. The evidence becomes clear when you look at how the rating agencies, such as S&P or Moody’s, measure hospitals. If they see improving per-

formance ratios, operating margins and patient volume, the hospitals are rated more highly … and the higher the credit rating, the less expensive it is to borrow money or issue bonds. The lower the credit rating, the more expensive it is. So strong hospitals continue to improve, while struggling hospitals only find it more difficult to improve. It’s a vicious circle in a very competitive healthcare environment. Since underwriting the financial and operational performance of a hospital is critical to understanding its longterm viability, these issues directly impact the future value of the medical office buildings that reside on its campus.

What to do?

Clearly, there are no simple or fast solutions to a national problem, but understanding the trends and issues is the first and most important step a

real estate professional working in the medical industry can take. It’s critical to develop strong relationships with senior hospital management, physicians and staff, learning from them, listening to them and understanding what they need. Only until you can truly understand their challenges will you be able to deliver the kind of services they need. BOMA

84

About the Author: Stephanie J. Oppenheimer, APR, formerly the assistant vice president of communications for BOMA International, is principal of Skylite Communications, a freelance writing and editing company based in Alexandria, Va.

TAKE NOTE To learn more about medical office buildings and other healthcare real estate, plan to attend BOMA’s Medical Office Buildings and Healthcare Facilities Conference, June 19-20, 2008, at the Hyatt Regency in Denver. For registration and complete con‑ ference information, go to www.boma.org/ TrainingAndEducation/MedicalOffice Buildings/.


86

Trends Tracker

BOMA May/June 2008

Benchmark your way to energy efficiency By Stuart Brodsky

T

here are numerous trends emerging in energy efficiency, especially in the commercial office sector. Property managers are implementing strategies to reduce consumption, from day cleaning to daylight harvesting to using power management software. Another trend being embraced by property professionals is benchmarking energy performance – the best way to track both building performance and the effectiveness of an energy-efficiency plan.

EPA ENERGY STAR ® Portfolio Manager – the national system for benchmarking energy performance of commercial properties – is embraced as the industry standard. By fall 2007, more than 10 percent of the total U.S. commercial building stock (7.7 billion square feet of space) had used the performance benchmarking tool. Two of the most common reasons that building owners and managers cite for using the rating tool include establishing an independent base-

line of current energy performance as part of an ongoing operations and management program, and earning the Stuart Brodsky, National Program Manager E N E R G Y for Commercial Property STAR Label Markets, U.S. EPA in recognition of superior energy efficiency and climate stewardship. Working in partnership with BOMA, ENERGY STAR continues to develop resources that provide the real estate industry with tools to demonstrate that voluntary approaches to climate stewardship have valuable outcomes. Following are answers to frequently asked questions about benchmarking with ENERGY STAR.

My company has initiated an organization-wide benchmarking program. Can I share with colleagues the data I have entered into the tool?

Yes. EPA has developed a sharing function that allows for both data security and sharing to individuals or groups designated by you. Use the “sharing” function of the tool to share your accomplishments with your senior management, as well as with the BOMA 7-Point Challenge. Guidance is available at www.boma. org/trainingandeducation/beep.

continued on page 88

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Trends Tracker

We can make every escalator in your building up to 40% more energy efficient. And you can take the credit for it.

What’s sustainable about ENERGY STAR?

Sustainability takes into account both the environmental and financial benefits of changed business practices. By using the rating tool, you can

set a target for improvement and then model the projected change in both the carbon emissions and the operating costs associated with that change in your rating. You can also generate a Statement of Energy Performance. This can help you gain buy-in for energy-efficiency efforts or report on accomplishments.

AC induction motors supporting variable loads are famously inefficient. Until now. Our motor efficiency controllers with new E-Save Technology™ cut energy use dramatically. E-Save Technology reduces the power (KW) delivered to a motor by instantly supplying the precise amount of energy required to maintain normal operating speed and required torque, no matter how the load may vary. Endorsed by leading utility providers, our motor efficiency controllers are currently saving energy in a variety of applications, many of which qualify for rebates or incentive financing. Visit www.powerefficiency.com or call 800.975.9111 to see how you can turn your AC motors into energy misers. “With E-Save Technology we’ve cut down our electric usage considerably.” Robert Hupp, Project Manager, Vertical Transportation Los Angeles County Metropolitan Transportation Authority

Working in partnership with BOMA, ENERGY STAR continues to develop resources that provide the real estate industry with tools to demonstrate that voluntary approaches to climate stewardship have valuable outcomes. How long does it take to get a rating and report of carbon and financial performance?

Setting up an account can take an hour or two, depending on how much data on the building’s operations and occupancy you already have on hand. Once an account is set up, monthly updates take five to 15 minutes, depending on how many utility bills you track and how many significant changes to building occupancy have occurred.

continued on page 90

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Trends Tracker

My tenants get their energy bills directly from the utility. How can I benchmark my building?

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3/14/2008

9:33 AM

Page 1

In some markets, such as Chicago, the buildings have no master meters. Participation between the city (which has a bold environmental stewardship program), the real estate industry and the utility company has led to recent agreements on a reporting function where aggregate utility data will be released to building operators. In California, legislation has been established that will require the utility to automatically upload data on commercial buildings into Portfolio Manager starting Jan. 1, 2009; by Jan. 1, 2010, the ENERGY STAR Statement of Energy Performance will be required for all building transactions. ENERGY STAR’s “Building Benchmarking Starter Kit” has template letters you can customize and send to tenants, explaining the efforts you are undertaking and the benefits. Tenants can give the utility company permission to release energy data to you.

Since I pass most utility costs on to tenants, why do I need the benchmark rating?

BOMA

Today’s occupied space is tomorrow’s vacancy. Benchmarking your building now will put you on track to identify energyefficiency opportunities you want to pursue before you have to market the space again. The Statement of Energy Performance can be used to show improvements you have made, and therefore demonstrate, among other things, that you are a proactive landlord. If the current tenant is considering staying, your efforts will also benefit existing relationships.

About the Author: Stuart Brodsky is U.S. EPA’s national program manager for commercial property markets. He can be reached at Brodsky.Stuart@epamail.epa.gov.

TAKE NOTE To learn more about Portfolio Manager and resources to help you benchmark your building, TAKE NOTE go to www.energystar.gov/benchmark.

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92

Green Scene BOMA May/June 2008

Developing your green cleaning program Planning and teamwork key to successful green cleaning By Tom Seitz, JohnsonDiversey

I

f you have not incorporated a comprehensive green cleaning program into your business, maybe it’s because you’re not quite sure how to get started. Green cleaning isn’t just about protecting the environment; it’s also about protecting the health of building occupants and cleaning staff while enhancing overall productivity. Implementing green products and processes can also reduce the costs associated with your overall operations – so why wait?

Step 1: Assemble your team and make a commitment

Commitment to the program is an absolute necessity for everyone, from senior management to the cleaning crew. In fact, an initial meeting is recommended to establish objectives

strategic suppliers should also be included in the meeting. Team goals should include: • Converting, by specific dates, to environmentally preferable chemicals, tools and equipment. • Accounting for current inventory levels, dispenser upgrades and training. • Establishing broader goals within measurable periods for your indoor environmental quality program. • Improving overall attendance of employees or improving awareness among occupants and visitors. Make sure your goals are understood by all, as the people you work with will be the ultimate judges of the success of your program.

A great green cleaning program is worth talking about

Step 2: Conduct a facility survey and assessment

By conducting a building survey of your faciliand raises the standing of your ties, you may be able to cleaning crew and facility identify potential probmanagement team. lems leading to situations that compromise indoor environmental quality. Begin with the outside. Look for and milestones of the green cleaning the location of air intakes. Are they program. In an office building, for free and clear of trash bins, auto example, the meeting may include exhaust or other potential sources the building manager, maintenance of indoor air contamination? Inside, manager and a representative from entryways should be under a rigorthe cleaning company. The local disous maintenance program to minitributor and representatives from

mize outdoor contaminants from being dragged into the facility. Check out the walk-off matting systems, their quality, the length of matting and their level of maintenance. These are just a few ways to improve your indoor environmental quality.

Step 3: Build consensus among cleaning managers

Keep in mind that 60 percent to 70 percent of the cleaning budget is labor. That’s why a green cleaning program is so much more than getting the products right. It’s also about introducing the right policies and procedures on how to clean for health and the environment. Rely upon vendors that have developed comprehensive procedural manuals. Providing clear procedures will help you win “buy-in” from your janitorial staff. Team-building should be ongoing. Remind staff that making innovative improvements in the cleaning program could lead to recognition and maybe even promotions. continued on page 94


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Green Scene BOMA May/June 2008

Step 4: Train the cleaning team

After setting in place the right procedures and policies, it’s time to train the cleaning personnel and teach them appropriate cleaning procedures. Training should include issues relating to chemical and equipment safety, as well as appropriate product storage and disposal of waste materials. Additional training sessions can inform and motivate the cleaning personnel about their critical role in maintaining a safe, healthy high-performing in‑ door environment.

Cleaning procedures should be reviewed and improved with a desire to implement a process designed to protect health and safety. That’s why training is continually needed. Procedures should be specifically designed based on the requirements of individual areas of the building.

Step 5: Promote your program

ket your program internally to building management, building occupants and cleaning personnel. Communication opportunities can include mes-

Your green cleaning program should include the Use the results of the green participation of the buildcleaning program as a means to ing occupants. A wellobtain budget increases to continue down designed communication the path of greening your facility. program will encourage them to help keep the sages dispersed via the organization’s indoor environment safe and healthy. intranet, newsletters, employee meetCommunication vehicles and tools ings and posted notices such as posters, should be used to promote and mar-

continued on page 96

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Green Scene BOMA May/June 2008

table tents, static clings, bookmarks, etc. Also, look for ways to promote and market your program externally to the community, customers, investors and other stakeholders through local media, organizations and events. A great green cleaning program is worth talking about and raises the standing of your cleaning crew and facility management team.

sonnel should be ongoing for both the training of newly hired cleaning personnel, as well as to reinforce proper green cleaning procedures with existing personnel. Most importantly, be

Step 6: Aim for continuous improvement

Continued enhancement of your green cleaning program is important to the health and happiness of your facilities and people. Conduct periodic feedback sessions and occupant surveys. Feedback from occupants should be reviewed and opportunities for improvement evaluated. Periodic meetings with cleaning per-

Todayâ&#x20AC;&#x2122;s property and cleaning managers are challenged to continually exceed the demands of customers, which include organizational management, tenants and visitors. As the general public becomes more concerned about the impact of the indoor environment on both health and productivity, the need to maintain a safe, healthy, high-performing indoor environment will increase. With these six steps, you can start to build a green cleaning strategy that works for your building and your tenants. BOMA

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sure to go back and make an honest assessment of how well you met the goals you established in Step 1. Use the results of the program as a means to obtain budget increases to continue down the path of greening your facility.

About the Author: Tom Seitz is JohnsonDiverseyâ&#x20AC;&#x2122;s North American director of sustainable facility care. He can be reached at thomas.seitz@johnsondiversey. com.

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May/June 2008

How do you measure up? Benchmarking provides meaning, not just measurements By Kurt R. Padavano

B

enchmarking gets a lot of “buzz” in the industry these days, but many day-to-day industry practitioners don’t fully understand what it is or why it’s important. The term benchmarking is used synonymously with taking measurements or collecting data. But simply measuring and recording data isn’t enough. To be most meaningful, savvy managers need to turn information into intelligence, to make meaning out of measuring. For property owners and managers, benchmarking involves not just tracking a building’s income and expense data but understanding how your asset performs relative to its peers – in terms Kurt R. Padavano, COO, Advance Realty of size, class, location and other elements Group of your operating – in the marketplace. BOMA collects operating income and expense information annually and publishes the aggregate data in its Experience Exchange Report (EER). BOMA’s EER is one of the largest compendia of building performance data in the world.

Why benchmark?

In the current real estate market, where asset values are being significantly squeezed, understanding how your property performs as a financial asset is crucial – for sustaining and even growing asset value, for keeping the management assignment and maybe even for keeping your job. While every property manager understands that operating expenses affect NOI, most fail to understand how operating even 10 percent above or below an industryestablished benchmark for a similar property can dramatically affect the value of the asset. Consider this example: Imagine we operate a four-building, 351,000-square-foot suburban office campus. It’s 100-percent occupied. Market rent rates are $26.71 psf (gross), and the capitalization rate is 7.5 percent. According to the EER, the national benchmark for operating expenses for this property is supposed to be $9.09 psf. Net operating income would be : $26.71 - $9.09 = $17.62

What is the value of that asset? In simple valuation terms, we can divide the NOI by the cap rate and get a rough sense of the asset’s value: ($17.62 NOI x 351,000 sf) / 7.5 cap rate = $82,461,600 Now consider what happens to that value if the operating expenses are a mere 10-percent above the industry standard, or $10 psf. NOI drops to $16.71 psf, and look what happens to the value of the building: ($16.71 NOI x 351,000 sf) / 7.5 cap rate = $78,202,800 Now consider what happens to the value of the asset if operating expenses are carefully managed and are 10-percent less than the industry average, or $8.18 psf. NOI increases to $18.53 and the building value increases: ($18.53 NOI x 351,000 sf) / 7.5 cap rate = $86,720,400 The 10-percent variance in operating expenses results in a huge range in terms of building value: $86,720,400 - $78,202,800 = $8,517,600 Given that operating expenses could affect the value of the building by millions, what property manager can afford to ignore his or her operating expenses? Or, more importantly, fail to understand fully how they compare to other buildings?

How to benchmark your operating costs

For many, the exercise of benchmarking means comparing their building’s operating performance to its peers, using the EER table for the size of the building in the city where the building is located. While this table is a good start, true benchmarking requires a broader range of comparative points, in order for the analysis to be meaningful. Start your benchmarking program by using a worksheet to record your building data and operating expense information; the EER pro forma worksheet (included in each annual issue) provides a great starting point. Then, continued on page 100

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100 Research Corner

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May/June 2008

ernment tenants, to help identify firms. There are cross-tabulations select the appropriate comparative whether those tenancies impact for size of building and location data based on location, building type, operating expenses or not. Cross(downtown or suburban). class or function. tabbed by location (downtown • All Electric Buildings: Given the While this sample worksheet and suburban). dramatic increases in energy costs, provides only one column for com• Location vs. Percent Private Sector, these tables can be invaluable. parative data, the EER itself contains Non-Profit Tenants: For buildings There are also cross-tabulations for many, many additional data points with non-profit tenancies, also size and location. that can be instructive when examcross-tabbed by ining a building’s location. performance. In While every property manager understands that addition to compar• Location vs. Proxoperating expenses affect NOI, most fail to ing a building to its imity to Public understand how operating even 10 percent above or below peers in a specific Tr a n s p o r t a t i o n : an industry-established benchmark for a similar property city, consider using can dramatically affect the value of the asset. Location of the the national crossbuilding relative tabulation data to to the proximity • Corporate Facilities: For buildings create a fuller picture of the buildto any type of public transthat are owner-occupied, or that ing’s operating profile. Among the portation stop, including subare leased but occupied by a single, tables that can provide useful indusway locations and bus stops. non-government corporate tenant. try benchmarks are these: Measured in blocks. These are cross-tabbed by location • Private Sector, Agency Managed: • Location vs. Percent Tenants Operand size as well. These tables contain data from ating 24/7: For buildings with • Location vs. Percent Government buildings that are managed by “high-use” tenancies, who operate Tenants: For buildings with govthird-party real estate management continued on page 102

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around the clock and whose use can dramatically increase operating costs. â&#x20AC;˘ Age/Height Analysis: Tables compile expenses based on the age and height of the assets, ranging from 0 to 50 years or more; and 9514 BOMA Full less than ďŹ ve stories to 30 to 39 stories. â&#x20AC;˘ Age/Size Analysis: Tables compile expenses based on the age and size of the asset. Age ranges are the same as in the age/height analysis. After you have selected your comparative data, calculate the dollar and percentage variances between your building and the aggregate data from the EER. Compare the data and determine reasons/justifications for variances. In these cases, benchmarking your buildingâ&#x20AC;&#x2122;s operating performance

May/June 2008

Current market conditions will against a wider range of benchhave every asset manager in the marks than just its local peers can industry insisting that each asset is reveal some important explanations managed as efďŹ ciently as possible. for the variance â&#x20AC;&#x201C; like the age of the Careful benchmarking can demasset, the types of tenancies or its onstrate management efficiencies reliance on electricity for its energy. better than anything else â&#x20AC;&#x201C; and it The expense details included in 7_875x10_875_FINmech 2/16/07 10:58 AM Page 1 can highlight savings opportunieach chart can help further to pinties, too. point the reason for the variance. The goal is not to make the buildingâ&#x20AC;&#x2122;s data match the benchmark, About the Author: Kurt R. Padavano, RPA, operating officer at but rather to understand $    # why '  itâ&#x20AC;&#x2122;s     CPM, ! FMA, # SMA,  # chief  Advance Realty Group, is the former chairman either above or below the norm â&#x20AC;&#x201C; and chief elected oďŹ&#x192;cer for BOMA International and to use that information to adjust (a term that ran through July 2007). He can be reached at kurtp@advancerealtygroup.com. the operating strategy accordingly. BOMA

102

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104 Eye on Education

BOMA

May/June 2008

Set your target for achieving sustainability By Helen Maplesden

N

ervous that the recent economic downturn will have a negative effect on your bottom line? Adding green strategies to your building operations may be just the ticket. The educational program at the 2008 BOMA International Conference can help you profit in any economy. One of five focal points of this year’s program is a compilation of sessions dedicated to “Achieving Sustainability.” Sustainability isn’t just an operational practice; it’s an enterprise mindset (a whole new strategy for running the real estate enterprise), especially with existing buildings. Sustainability marks the convergence of best-in-class operational practices with strategic deployment of capital and other resources to achieve a triple bottom line – enhanced net operating income and asset value, superior tenant satisfaction and demonstrated corporate social responsibility. And, oh yeah: You help save the planet, too.

Case studies

The “Achieving Sustainability” track has several case studies to help you put proven strategies into practice. The Green Renovations Boost Bottom Line and Engage Tenants session provides a case study on the successful greening of a 94,000-square-foot property, originally constructed in 1986, by leveraging existing efficiencies, making critical improvements and engaging tenant support. The session includes insights on retrofitting to green standards that you can apply to processes and materials in your own facilities. In the Implementing Green Operations in Large Portfolios: Lessons Learned from the Field session, dis-

cover how to implement portfoliowide strategies for energy efficiency, water conservation, recycling and waste reduction, green cleaning and general operating practices in multifaceted portfolios of third-party managed assets. Also, learn how firms evaluate investment-grade decisions in terms of operational savings and asset value.

Practical information

In addition to case studies, the “Achieving Sustainability” track provides a number of best operational practices and practical information on evaluating a building’s efficiency and improving the bottom line. Getting to Carbon Neutral – a session provided by the U.S. Environmental Protection Agency (EPA) – looks at how existing technologies, combined with a renewed emphasis on operations and management practices and a balanced approach to purchasing renewable energy, can significantly cut the average building’s carbon footprint while remaining financially competitive. The session also walks you through the EPA’s ENERGY ® STAR and Climate Protection Partnerships Division to measure, document and recognize low carbon buildings. And don’t miss this year’s power sessions. Numerous practical strategies and tips on topics such as green pest control and the new LEED for existing buildings are packed into repeated 30-minute sessions.

Sign up now

For more information on all five convention education tracks, including “Achieving Sustainability,” visit www.bomaconvention.org.

Achieving Sustainability Schedule Sunday, June 22 11:30 a.m.-12:45 p.m. • Green Renovations Boost Bottom Line and Engage Tenants Monday, June 23 2:00-3:15 p.m. • Implementing Green Operations in Large Portfolios: Lessons Learned from the Field • Getting to Carbon Neutral, (Content developed by the EPA) 3:30-4:45 p.m. • MIXED USE! Sustainable Design as a Business Strategy: Seattle’s South Lake Urban Mixed Use Redevelopment ® • BEEP Course 3: Energy Efficient Audit Concepts and Economic Benefits (Content developed by BOMA Energy Efficiency Program) Tuesday, June 24 8:45-10:00 a.m. • Unlocking the Value of Energy Efficiency with BOMA/Utility Partnerships • H2Opportunities: Water Conservation Strategies and Paybacks • Practical Strategies for the Continual Improvement of Existing Buildings (Content developed by Green Building Initiative) 2:00-2:30 p.m. (repeated at 2:45-3:15 p.m.) • 30-Minute Power Session: A Property Manager’s Guide to Greener Pest Control • 30-Minute Power Session: The New LEED for Existing Buildings (Content developed by U.S. Green Building Council)


106 Eye on Education

BOMA

New BOMA course brings core management strategies to property professionals The demand for core commercial real estate management education for entry-level and up-and-coming property professionals is greater than ever. BOMA International is meeting this demand with Foundations of Real Estate Management, a comprehensive introduction to commercial real estate. Foundations is based on BOMA/ Atlantaâ&#x20AC;&#x2122;s successful program, Property Management 101 (PM 101), originally developed to address an industry shortage of new, young talent. BOMA International has revised and re-packaged the program for

May/June 2008

national distribution under the name Foundations of Real Estate Management. The program will be delivered live, in classroom settings, through BOMA local associations. Many new hires do not have real estate degrees, and there is a significant learning curve for understanding the basics of commercial real estate management. Foundations responds to these challenges by offering a curriculum that brings students up to speed quickly, supplements on-thejob training and connects students to a valuable peer network. The course is ideal for all property professionals with less than five years of experience, such as junior and assistant property managers and administrative personnel. Since it covers such a broad range of essential topics, even

seasoned real estate professionals have found the program to be a helpful refresher. The 26-hour curriculum is divided into five modules: Real Estate Administration, The Well-Versed Real Estate Manager, Building Operations I, Building Operations II, and Putting It All Together. Building tours are included to reinforce learning, providing participants with a unique opportunity to gain a deeper appreciation of professional management approaches by touring best-in-class examples of other properties the area. For more information on Foundations of Real Estate Management, contact Helen Maplesden, BOMAâ&#x20AC;&#x2122;s director of education, at (202) 326-6348 or e-mail hmaplesden@ boma.org.

continued on page 108


108 Eye on Education

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May/June 2008

Education and events calendar May 8: BEEP Course 4: No- and Low-Cost Operational Adjustments to Improve Energy Performance, Webinar, 2 p.m. ET, contact: beep@boma.org May 22: 10 Ways to Manage Any Tenant Problem, Webinar, 2 p.m. ET, contact: education@boma.org June 19-20: BOMA’s Medical Office Buildings and Healthcare Facilities Seminar, Denver, CO, www.boma.org/ TrainingAndEducation/MedicalOffice Buildings/

August 7: BEEP Course 6: Building an Energy Awareness Program, Webinar, 2 p.m. ET, contact beep@boma.org August 20: Operating & Managing Mixed-use Properties, Webinar, 2 pm ET, contact education@boma.org October 1-2: BOMEX 2007, Vancouver, British Columbia, visit: www. bomex.ca

June 22-24: Commercial Real Estate Congress® and The Office Building Show, Colorado Convention Center, Denver, CO, www.boma.org/Training AndEducation/ConferenceEd/ July 10: BEEP Course 5: Valuing Energy Enhancement Projects & Financial Returns, Webinar, 2 p.m. ET, contact beep@boma.org

From a two-person organization in 1992, LB&B Associates Inc. (LB&B) has grown to a highly diversified business operating in twenty-six states, as well as Cuba, with more than 1,500 associates. As an experienced service contractor, LB&B understands the requirements and priorities of its customers. LB&B has established a remarkable record for performance and customer satisfaction when providing operations, maintenance, commercial facility management, facility repair and alterations, custodial and grounds services at prestigious government and commercial facilities across the United States. At LB&B we are creating opportunities for success. For more information about LB&B or to apply to one of our outstanding opportunities, please forward your resume via email to: employment@ lbbassociates.com or fax to the Human Resources Department at: 301-596-7879. • Facilities Project Management • Operations Management • Construction Management • Professional Engineers • Business Development / Marketing Professionals LB&B is an Equal Opportunity Employer M/F/V/D LB&B Associates Inc. 9891 Broken Land Parkway Ste 400 Columbia, MD USA 21046

Always available e-seminars Benchmarking: Tools for Measuring Operational Performance (In Partnership with BOMI) Preparing Buildings for Sheltering in Place (In Partnership with BOMI) Property Conditions Assessments (In Partnership with BOMI) Mold in Commercial Buildings (In Partnership with Healthy Buildings International USA and Intellum) For detailed information on BOMA educational offerings, visit www.boma.org/Training AndEducation For detailed information on upcoming industry events, visit www.boma.org/Events/

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Buyers’ Guide

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BOMA May/June 2008

Buyers’ Guide to building products and services PRODUCT

DETAILS Dickson’s Graph-at-a-Glance tracks environmental conditions Property managers and building engineers tracking temperature or humidity conditions now have the convenience of both real-time data and the ability to download data for further analysis with the redesigned Dickson Graph-at-a-Glance Flat Panel Temperature and Humidity Data Loggers. The Graph-at-a-Glance data loggers are paperless chart recorders that provide a digital graph, enabling facility managers to immediately visualize environmental trends that affect both energy costs and patron comfort. To learn more, visit www.dicksondata.com. DuPont Fire Extinguishants features waterless, clean agent technologies DuPont Fire Extinguishants has now added the FM-200 ® waterless fire suppressant brand to its existing portfolio of DuPont™ FE brand clean agent fire extinguishants. Both fire extinguishants have a unique combination of properties that provide more effective protection for occupants and high-value assets within commercial buildings. Unlike water or other suppression methods, clean agent extinguishants are non-conductive and non-corrosive, so they are safe to use around valuables and sensitive electronic systems. To learn more, visit www.cleanagents.dupont.com. Kimberly-Clark Filtration introduces gas phase filter media Kimberly-Clark has introduced a new brand of odor-control filtration media to remove odors and other irritant gaseous contaminants from HVAC system air streams in commercial buildings. The filtration media has new odor-removal technology to deliver clean, odor-free air, thanks in part to its two-layer construction. The upstream layer provides excellent particulate filtration and protects the downstream carbon layer from particulate loading to ensure maximum odor-removal capability. The downstream layer is made of activated carbon, one of the strongest physical adsorbents, which rapidly adsorbs and retains gaseous contaminants. To learn more, visit www.kcfiltration.com. continued on page 112

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Buyers’ Guide BOMA May/June 2008

PRODUCT

DETAILS McQuay ’s chemical-free water treatment reduces water consumption McQuay® evaporative condenser rooftop systems can save as much as 40 percent on condensing energy compared to air-cooled systems, and often draw less energy than any alternative HVAC system. The units use the cooling effects of evaporation to lower condensing temperatures and reduce compressor work, resulting in lower electrical demand and consumption. In addition, they can be equipped with a chemical-free water treatment system that eliminates the need to use harsh chemicals in the condenser section of the units, reducing water consumption costs by an estimated 10 percent. To learn more, visit www.mcquay.com. ®

Watt Stopper/Legrand’s dimming photosensor saves energy Watt Stopper/Legrand, a manufacturer of energy-efficient lighting controls for commercial use, has developed the LS-301 Dimming Photosensor. Designed with features for optimal performance and ease of use, the device includes a groundbreaking sliding setpoint control algorithm and a handheld setup remote to facilitate quick and convenient commissioning. The LS-301, which controls standard 0-10 VDC electronic dimming ballasts, can be used as one element of a green lighting design that minimizes energy use and keeps operating costs in check. To learn more, visit www.wattstopper.com. Cooper Lighting introduces low-profile Class R Series Cooper Lighting has introduced the new Corelite Class R series of shallow recessed directindirect luminaires. Discarding the traditional “box” design, the Class R has an unobtrusive low-profile shape, providing the perfect answer to constrained plenum space with the ability to retain ceiling heights. The Class R features T5 specific low-energy technology and highly efficient optical engineering to aid in green and sustainable design. To learn more, visit www.cooperlighting.com.

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