Real Estate Investment Trust
Business Activity: Commercial Real Estate
Location: Nationwide
Project: Management Services
A real estate investment trust (REIT) recognized the potential cost savings in reducing energy consumption across their portfolio of shopping centers. Sieben Energy Associates (SEA) was chosen to provide energy procurement services for the client. SEA approached the assignment with the goal of optimizing the client’s strategy for both energy consumption and energy pricing.
Highly satisfied with their new supply portfolio, the client also engaged SEA to review additional energy supply contracts and conduct energy audits at select facilities. For these properties, SEA analyzed utility rates, calculated marginal energy prices, tabulated historical energy consumption, and described the unique energy requirements of each facility. This valuable information provided the REIT’s management with the means to accurately track and project their long-term energy expenditures.
Sieben Energy Associates provided the client with expert consultation on energy cost reduction and purchasing strategies that surpassed expectations. Drawing SEA staff from multiple service lines, the project team enabled the client to better understand and implement energy management and purchasing strategies. SEA demonstrated to the REIT’s facility staff and corporate office how to think about and prepare for energy usage and cost in a volatile marketplace.