Shorenstein Realty Services
Shorenstein is a fully integrated real estate investment company, bringing entrepreneurial vision to office and mixed-use properties in dynamic markets across the United States. Using creating strategies and savvy investment discipline, we transform environments to create distinctive, high-quality tenant experiences.
At Shorenstein, sustainability means enhancing investment performance, operational resilience, and business governance for the benefit of the company’s properties, tenants, employees, investors, and communities. We embrace sustainability as an opportunity to improve our business practices while also reducing our impact on the environment and strengthening the communities where we operate.
As an industry leader in sustainability practices, Shorenstein was one of the first real estate companies in the country to formalize a “green” initiative with a strong commitment to energy conservation and responsible environmental practices. We continue to employ operational best practices by setting annual goals and measuring our performance through national and international benchmarks such as LEED, Energy Star, Green Lease Leaders, the Better Buildings Challenge, and GRESB. These efforts have added measurable value to our portfolio through reduced operating expenses and increased tenant satisfaction.
Building Performance Strategy
Investment in Efficiency
In 2020, we completed forty-six energy efficiency projects, including Building Automation System upgrades, replacement of chilled water coils, new chillers, and more. Capital projects are planned based on efficiency strategies with information on energy usage collected from across the portfolio advancing progress toward our goals.
Through the sustainability program, Shorenstein has created a culture in which Chief Engineers and Property Management Staff take pride in operating our buildings efficiently and strategically. Using real-time energy analytics, they proactively manage electric demand throughout the year and identify opportunities to optimize efficiency in day-to-day operations. These utility management strategies translate directly into reduced use of resources and cost savings.
Shorenstein’s tenant engagement program emphasizes actions tenants can take to improve building performance. This includes recycling training to improve diversion rates, construction standards for tenant improvements that guide efficient and sustainable projects, and our comprehensive Environmental Responsibility Program which provides online and in-person resources that tenants can use to enhance their understanding and involvement in sustainability.
Reducing power usage is always a focus for Shorenstein properties. 5 POP in Houston will convert to 100% renewable Texas Green-E certified wind generated power in 2021. San Francisco Bay Area Properties have committed to purchasing 100% renewable energy starting in 2021, and Renewable Energy Credits have provided an offset for carbon caused by energy use at 4 Shorenstein properties across the country. Over 36K MWh were off set in 2020.
Shorenstein is an Environmental Protection Agency ENERGY STAR partner and benchmarks all properties using ENERGY STAR Portfolio Manager. The majority of the company’s buildings have either qualified for the ENERGY STAR label or are pending approval.
Green Lease Leader
The Green Lease Leader program is designed to recognize building owners who are effectively using the lease to drive energy and environmental savings in commercial buildings. Shorenstein was named as a Green Lease Leader at the Silver level in 2015, and again in 2019. In 2021, Shorenstein was awarded the Gold level designation.
Better Buildings Challenge
In 2008, Shorenstein committed to the U.S. Department of Energy’s Better Buildings Challenge of a reduction of 20% by 2020. We met our goal in 2016 and have set new goals to exceed the 20% energy reduction over the original 2008 baseline.
Health and Wellness
Shorenstein responded to COVID-19 with advanced policies, protocols and efforts which were assessed and evaluated to determine that they met the standards required to be awarded the WELL-HSR Rating. Shorenstein achieved the rating by pursuing a review of features including cleaning and sanitization, emergency preparedness, health service resources, air and water quality, and stakeholder engagement.
Low Carbon Pilot
Shorenstein has joined the Better Buildings Low Carbon Pilot program as a partner with a goal of showcasing real world pathways as an example of how to achieve low carbon buildings. We will transparently share our experiences, successes, and challenges pursuing low carbon emissions strategies at two or more buildings over the next two years.
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