HOUSTON—Multi-million-dollar capital investments in older properties can have them competing with modern-day office developments if owners focus on technology and sustainability, says Roger Vasquez, director of engineering and property management for Transwestern. In the following Q&A, Vasquez talks to the firm’s president, Kevin Roberts, about Pennzoil Place, a 1.8-million-gross-square-foot office property here whose owner executed technological and sustainable capital improvements and was able to slash its electrical costs, pass the savings on to its tenants and generate money through a nationwide initiative. He also talks about how capital improvements can provide landlords with greater gains and make their properties more valuable.

Roberts: Many building owners are not fully realizing the potential gains of capital-improvement projects. The owner of Pennzoil Place worked with Transwestern on an innovative rehabilitation that has attracted much industry attention. In a nutshell, what was implemented at Pennzoil Place that is so different?

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