Included in this contract are the following Bergman properties: 51 Haddonfield Rd., a 96,419-square-foot, three-story, class A office building located at the Colwick Business Center in Cherry Hill and 555 US Route 1, Woodbridge Towers, an 85,000-square-foot, four-story commercial office building located in Iselin.

GSH will fund energy-saving projects within the facilities to reduce energy consumption. Project work on Bergman's buildings will include the installation of a building management system, mechanical improvements and daily monitoring of building equipment to optimize energy efficiency.


51 Haddonfield Rd.

The program at 555 Route 1 requires significant investment from GSH, while the program at 51 Haddonfield is a more traditional reduced cost contract. "In the case of the former, we will be installing a new building automation system, which is valued in excess of $200,000. The BAS will use digital technology to control heat, air conditioning, lighting and other loads. The system will improve tenant comfort, save energy and increase the value of the building. The energy savings will fund the entire investment," Gross explains.

For the Cherry Hill-based office, the savings guarantee is based on historical consumption. "GSH has made improvements on existing air conditioning and lighting systems," Gross says. "The majority of this work is called retrocommissioning, which is a formal process to ensure mechanical equipment and control systems are working the way they were originally intended. Often the operation of these systems can be improved, resulting in energy savings, tenant comfort and less wear and tear on equipment."

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM Digital Member, you’ll receive:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.