|

J. Stephen Gossett Jr., co-founder and vice president of theDallas-based firm, tells GlobeSt.com that the makeover plan for theseven-story building at 2110 Research Row will result in thereduction of 1,500 metric tons of greenhouse gases or theequivalent of removing about 285 vehicles from the road. Heestimates the savings will surpass 50% of existing energy costs.The "greening up" of the building, owned by Moser Realty Group ofDallas, pencils out to be so promising that Transcend Equity hasjumped into talks with a national REIT to assess itsmedical-related commercial properties for similar gains, Gossettsays.

|

[IMGCAP(2)]Older medical-related real estate typically uses "twoto three times" more energy than comparably sized traditionaloffice buildings, says Gossett, who estimates the Research Rowbuilding's energy costs are running about $6 per sf to $6.50 per sfannually. The goal is to "future proof it against higher costs ofenergy," he says, "by using off-the-shelf technology and puttingpieces of what you'd put in a brand-new building into an existingbuilding to make it work properly."

|

With work about to start in the coming weeks, Gossett says the50-year-old building will be done in December. Crews will worknights to open ceilings in 137 locations, replace underpinnings andclose them back up before tenants arrive in the morning. Half ofthe 90%-leased building is occupied by a University of TexasSouthwestern Medical Center's Veripath Laboratories.

|

To put the job into perspective for the industry, Gossettexplains that fume hoods, which run 24/7 in older buildings, willbe outfitted with energy-efficient technology to regulate airreplacement in offices and lab space. He says the existingmechanical system completely replaces air four times every hourwhile the new one will run on demand when fume hoods are in use "tocut energy use substantially." In addition, the overhaul of theinner workings will include installation of a variable air volumesystem for individual temperature controls in offices and labspaces.

|

"A pure energy project of this type is the first one that we'vedone and it's typically not done," Gossett says. "We are taking anexisting building that's functionally constrained, to some degree,and turning into a building that's more like one coming out of theground."

|

Gossett says the finished project won't be LEED certified, butit will comply with two-thirds of the points for energy performancefor existing buildings. Added recycling measures and tenantfinish-outs could nudge it to LEED-EB certification, he adds.

|

TranscendEquity, founded in 2003, upgrades mechanical systems inolder office buildings to obtain maximum energy performance andcomfort at no upfront cost to owners and without increasingoperating expenses in exchange for a 10-year payback equal to thehistorical electricity and gas costs before the retooling. To date,the company has contracts pending to re-energize nearly fivemillion sf in 33 office buildings from Washington DC to Dallas. Thestructures range from 1920s-era buildings to 2006.

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

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications
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.