Green Burgers
Oct 1, 2007 12:00 PM, Elaine Misonzhnik
Simon, ConEd Ink Pact
Simon Property Group has turned to ConEdison Solutions for enhanced energy-efficient programs for its malls to improve operating efficiencies as well as shoppers' comfort. The energy-efficient programs to be explored include the lighting, air-conditioning, heating and energy controls at its 380 properties in North America. Specific programs being examined include installing new lighting systems, controlled lighting in parking lots as well as new heating, ventilation and air-conditioning systems.
Simon anticipates the customized initiative will accelerate its ROI, in addition to the comfort and safety it will provide for customers and tenants.
Safeway Greens
Safeway Inc., unveiled its first solar-powered grocery store as part of its “green power” initiative. The 55,000-square-foot store, located in Dublin, Calif., is powered by solar panels located atop the store. Its existing gas station is already fueled by wind energy. Solar and wind energy are integral to Safeway's companywide focus on “green power.” The Pleasanton, Calif.-based company is trying to reduce its carbon footprint by 390,000 tons from 2000 levels. Safeway's investment in carbon power reduction strategies includes new energy-efficient refrigeration and lighting. Recently, it joined the Chicago Climate Exchange, North America's only voluntary, legally binding greenhouse gas emission reduction registry and trading program. The firm is one of the largest retail recyclers of paper, cardboard and plastic.
Retail Trading
S&P/GRA Commercial Real Estate Indices (SPCREX) futures and options contracts are set to begin trading later this month, reports the CME Group. CME Globex, an electronic trading platform, brings buyers and sellers together. Ten quarterly cash-settled contracts based on property type and geography will be available. The listings include indexes on property types including retail, office, apartments and warehouse properties in five regions. The regional indexes encompass Desert Mountain West, Mid-Atlantic, South, Northeast, Midwest and Pacific West. SPCREX data is based on recorded transactions and published monthly. The first five years of SPCREX futures contracts will be listed on a March quarterly cycle. The contracts give investors access to the $5.3 trillion U.S. commercial real estate market, which accounts for 35 percent of the $15 trillion global commercial real estate market.
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