Shorenstein Properties LLC

Background

Shorenstein Properties LLC, one of the oldest and most successful private real estate investment companies active throughout the United States in the acquisition, development, ownership and management of office and mixed-use properties, has long been a believer in energy efficiency and energy management. Over the past several years, Shorenstein has implemented an expanded energy efficiency program, which has included an engineering tour of all properties to identify efficiency improvements as well as a national campaign to educate tenants about actions they can take to be more energy efficient. The engineering tour, conducted in 2010, achieved a portfolio-wide 5% decrease in energy use, representing annual savings of $1.7 million, 12.3 million kilowatt hours, and 4,800 metric tons of carbon dioxide (equivalent to taking 940 cars off the road). In 2011, Shorenstein coordinated a national tenant tour, the Flip the Switch Campaign, to educate its tenants about the importance of energy conservation and to provide them with actions they can take to be more energy-efficient.

“We are honored that the Department of Energy has asked us to participate in the Better Buildings Challenge. Understanding and controlling consumption is the right thing to do from both an economic and environmental perspective and we look forward to the creative solutions that participation in such an aggressive campaign will help us to achieve” said Lisa Mize, Senior Vice President and Chairperson of the company’s G.R.E.E.N. Committee. Shorenstein will continue its commitment to energy efficiency by targeting a 20% reduction in energy consumption for nearly 21 million square feet by 2020 over a baseline of 2008, as part of its commitment to the Better Buildings Challenge.