CREJ

Page 18 — Office Properties Quarterly — June 2019 www.crej.com Market Trends O ver 30 percent of all office buildings in the Denver metro market were built before 1989. These build- ings, now well into their 30s, are just not as shiny and sprite as they used to be, and their ten- ants are attracted to the more con- temporary buildings. Tired of being upstaged by the younger generation of architecture, what’s a 30-some- thing building to do? Buy a new Corvette? It’s a real midlife crisis. Like many of us who have cele- brated the big 3-0 (some of us many years ago), the question is, how do we age gracefully? Do we get a makeover, go to the gym, eat more vegetables? The hunter-green-and-pink bath- rooms, the wood décor and the huge lobbies are no longer chic. And the brass décor, the “acces- sories,” well, it just looks dated. These younger buildings are sport- ing things like more efficient floor plans, energy-efficient lights, mod- ern, sleek lobbies, better control systems and more amenities. How do the 30-somethings com- pete against that? They need to focus on three key areas: design trends, upgrading aging building systems and providing sustainabil- ity practices. • A new wave of design upgrades. Small changes in a building’s style and design can go a long way in looking more youthful, particularly in lobbies. As the lobby is the face of the interior of a building, an outdated-looking lobby is a hard impression to overcome. Brass, wood and bold pastels have given way to stainless steel, clean lines, lighter color pal- ettes and more intimate lobbies. Even something as simple as new furniture can cre- ate a modern and current feel in an office building. Changing build- ing directories to touch-screen monitors and updating tenant and building sig- nage are relatively inexpensive and effective upgrades. Restrooms can be another cost- effective face-lift. Replacing ’80s-era pastels, tile counters and brass trim with contemporary color palettes, stone counters, and touch-free fau- cets and soap dispensers can easily modernize their look, while changing out toilet flush valves combined with low-flow technology can help mini- mize water waste. • Building system upgrades. Heat- ing, ventilation, air-conditioning and lighting improvements offer a new lease on life. The biggest challenge 30-somethings have to face is aging building systems, which eventually show the aches and pains of wear and tear. The biggest issue is HVAC systems, followed closely by roofs, boilers, elevators, plumbing, windows and parking lots. The useful life of HVAC systems range from 15 to 25 years, depending on the type of system and the qual- ity of the maintenance. HVAC sys- tems are the second-largest energy consumers in office buildings, after lighting. Modern HVAC systems are far more energy-efficient than their older counterparts. New systems also are less harmful to the environment through the use of new refrigerants required by the Environmental Pro- tection Agency. Building automation systems, also known as energy management sys- tems, control the building compo- nents as a part of an integrated sys- tem and have improved dramatically along with the growth of computer technologies. Gone are the “dual flop- py disc” operating systems, replaced by cloud-based computing, with remote monitoring and control capa- bilities. Building automation systems now can manage everything from lighting, heating, cooling, ventilation and even building access. A well- designed, integrated BAS can reduce energy consumption up to 30%. In most Denver area office buildings, this can equal a 50 cent reduction in operating expenses per square foot. Lighting control technology also has advanced tremendously since the days of big shoulder pads and poufy hair. Lighting typically uses around 40% of a building’s total ener- gy consumption. The advent of LED technology, automatic dimming, electronic ballasts and occupancy sensors all reduce energy consump- tion. • The sustainability playlist. Sustain- ability is big with the new kids on the block. LEED and green buildings are more desirable in the market. In addition to energy-efficiency improvements, there are some sim- ple ways to integrate sustainable practices into daily property man- agement and increase your “cool” factor. “Green Seal” janitorial prod- 30-something buildings: Staring at a midlife crisis Please see Kennedy, Page 22 Mark W. Kennedy, RPA, LEED GA President, Wheelhouse Commercial Wheelhouse Commercial Many of Denver’s office buildings were built before 1989, which means they must adapt to compete with newer product.