Nuveen Real Estate identified a series of low-cost and no-cost strategies to reduce utility consumption at 801 Brickell. Nuveen Real Estate’s decision to further improve the energy performance of 801 Brickell, an already efficient urban office building, reflects its ongoing effort to identify and capture energy savings opportunities across its portfolio of real estate.
Reducing energy use is an important part of Nuveen Real Estate's Global Real Estate Sustainability Initiative, which includes goals of reducing tenant occupancy costs, increasing asset value, and demonstrating environmental and corporate responsibility. Between 2007 and 2014, Nuveen Real Estate reduced its office portfolio energy usage by over 20%.
Working with their sustainability consultant, and the property team, Nuveen Real Estate identified no-cost/low-cost and capital measures to enhance building HVAC controls, perform water balancing for the HVAC system, install and adjust VFDs, and implement lighting retrofits. The projects yielded an overall payback period of 2.7 year and an ROI of 37%.
Nuveen Real Estate completed the following energy efficiency measures at 801 Brickell over the course of four years:
By adhering to a strategic management plan for continuous improvement, the 801 Brickell property team ensures that the asset will maintain its value and competitiveness in the Miami market. Nuveen Real Estate's efforts increased 801 Brickell’s ENERGY STAR score from 76 in 2011 to 90 in 2015.