Achieving ENERGY STAR® Certification for a Multi-Tenant Office Asset
A Benchmarking
Buildings Case Study
JPB Private Equity and Real Estate
JPB partnered with MD Energy Advisors to improve energy performance at Arundel Mills Corporate Park–Building 2 in Hanover, MD. MDEA guided benchmarking, energy bill verification, and quality upgrades, resulting in an ENERGY STAR® Score of 79. The project enhanced compliance with BEPS regulations while boosting asset value and energy efficiency.
Problem
JPB Private Equity and Real Estate (JPB), an alternative asset manager dedicated to private equity and real estate investments focusing on dynamic markets across the Mid-Atlantic and Southeast U.S, was looking to upgrade the energy performance of its Arundel Mills Corporate Park-Building 2 property in Hanover, Maryland. They sought a trusted energy partner who could support ENERGY STAR certification initiatives to improve building value and energy initiatives.
Benchmarking is the first step in helping a building’s energy performance, because you can’t improve what you don’t measure. Once building owners recognize the benefits of knowing how their buildings are performing, they can act and improve the energy efficiency of their buildings. This will allow them to increase their cash flow and profitability.
Goals
Tenant Attraction
Increasing the building’s appeal through sustainability and efficiency.
BEPS Compliance – Meeting Maryland’s Building Energy Performance Standards.
OPEX Reduction – Lowering operational energy costs to improve profitability.
Solution
To support the initiative, MD Energy Advisors guided JPB in creation of a portfolio and verifying accuracy of energy bills, led the inspection process and managed testing and quality improvement.
Leveraging their expertise in Building Energy Performance Standards (BEPS) regulations, MD Energy Advisors provided strategic insights that not only ensured compliance but also empowered JPB to make data-driven decisions aimed at improving energy efficiency across its portfolio.
To support the initiative, MD Energy Advisors guided JPB in creation of a portfolio and verifying accuracy of energy bills, led the inspection process and managed testing and quality improvement.
Arundel Mills Corporate Park-Building 2 in Hanover, Maryland earned the U.S. Environmental Protection Agency’s (EPA) ENERGY STAR certification for superior energy performance. Joining in strategic partnership with JPB Private Equity and Real Estate to obtain funding for this project, MD Energy Advisors directed the upgrade project that resulted in Arundel Mills Corporate Park-Building 2 achieving an ENERGY STAR Score of 79, which means the building is more energy efficient than 79 percent of similar properties nationwide.
Impact
- ENERGY STAR® Certification enhanced the property’s marketability.
- Operational Cost Savings reduced expenses and increased profitability.
- Compliance with BEPS ensured long-term regulatory alignment.
Client Testimonial
Conclusion
Through this strategic partnership, JPB not only improved energy efficiency but also enhanced asset value, reduced costs, and positioned the property as a sustainable leader in the market. The Energy Star Certification enabled them to retain their State and Federal tenants.
As a result, Arundel Mills Corporate Park-Building 2 achieved an ENERGY STAR Score of 79, making it more efficient than 79% of similar buildings nationwide.
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