Commercial Real Estate Owners (or REIT’s) face a myriad of pressures. In difficult economic times, the loss of even a single tenant can mean a direct hit on profitability. Some of the issues they face include:
• Tenant complaints – work spaces are too hot or too cold
• Increasing energy costs – energy costs are going up year-after-year
• Ever stricter and complex environmental regulation.
• Shortage of trained building engineers – the building engineering workforce is nearing retirement with few qualified candidates to take their place
• Difficulty managing a portfolio of mixed building types and EMS vendors – portfolios frequently grow through acquisitions. Engineers must deal with a portfolio of different control systems. Few engineers have the skills to support all of them
• Minimal funds available for CapEx improvement – Control system improvements often require large budgets which may take years to justify and finance
• Churn in portfolio ownership – Building portfolios regularly turn over, making it difficult to justify CapEx projects
BuildingIQ helps to make buildings smarter and building portfolios less costly to operate. Parameters are set to optimize HVAC temperatures so tenants stay comfortable while energy keeping energy costs as low as possible.
Case Study: Utility Company & Real Estate Developer