Wells Real Estate Funds (Wells)--a nationwide purchaser and manager of a multibillion-dollar portfolio of Class-A office properties--manages over 120 office properties in 28 states and the District of Columbia, encompassing nearly 27 million square feet. Wells is receiving ENERGY STAR recognition for successfully implementing a portfolio-wide benchmarking and energy management program based on the ENERGY STAR Guidelines for Energy Management and communicating achievements to staff, tenants, and investors. Key accomplishments include:
* Improving portfolio-wide energy efficiency by 6.7 percent in 2010, exceeding the organization's target and putting Wells on track to meet the ENERGY STAR Challenge goal of 10 percent improvement by the end of 2011.
* Earning the ENERGY STAR for 24 properties in 2010 (9 new certifications and 15 recertifications), for a total of 55 certified buildings since 2007.
* Undertaking 230 energy improvement projects across the portfolio, with a focus on low-cost operational enhancements in addition to capital investments.
* Implementing a dedicated initiative to work with tenants at triple-net leased buildings to obtain the energy consumption data necessary to benchmark in Portfolio Manager.
* Working toward a goal of creating online certified building profiles for 50 buildings that have earned the ENERGY STAR.
* Promoting a wide range of ENERGY STAR campaigns to tenants, such as the ENERGY STAR Challenge and BringYour Green to Work.
* Communicating energy management activities and achievements to the broader investment community via annual reports.
Wells Real Estate Company: Triple Net Lease Tenant Participation in ENERGY STAR Case Study