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Empire State Realty Trust named green lease leader

The Institute for Market Transformation (IMT) and the Department of Energy’s Better Buildings Alliance have awarded a 2014 Green Lease Leader designation to Empire State Realty Trust, Inc..

The Empire State Building
The Empire State Building

Only 14 companies across North America earned the 2014 designation, which recognizes excellence in creating and executing leases that foster energy efficiency, providing cost savings for both landlords and tenants.

“By implementing performance specifications for energy efficiency into [its] leases, ESRT is knocking down barriers to energy efficiency by finding smart ways to share the capital costs and energy savings of energy efficiency improvements in [its] portfolio,” said Cliff Majersik, executive eirector of IMT.

ESRT is well known for designing and implementing a new model for energy efficiency retrofitting of existing buildings, in partnership with the Clinton Climate Initiative, Johnson Controls Inc., JLL and Rocky Mountain Institute.

The initiative, which was first implemented at the Empire State Building, has led to significant cost savings for tenants.

ESRT subsequently did additional work with the Center for Market Innovation at the Natural Resources Defense Council, which has resulted in similarly documented cost savings for tenants from more efficient installations of their own spaces.

“Approximately 60 percent of office buildings’ energy consumption occurs within tenant spaces. As such, steps to reduce energy consumption in common areas and base building systems alone miss the opportunity to reduce the largest part of any building’s energy load,” said Anthony E. Malkin, chairman, CEO and president of ESRT.

“We are delighted to be recognized with the Green Lease Leader award, which affirms our commitment to reduce whole building energy consumption and help tenants meet their corporate mandates for sustainability.”

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