Industry Insights: What Retailers Need to Unleash Energy Efficiency and Sustainability Success
How can retail landlords and tenants better align their priorities for mutual success?
In 2018, the Institute for Market Transformation (IMT), the Retail Industry Leaders Association (RILA), and Connex (formerly the Professional Retail Store Maintenance Association) facilitated a first-of-its-kind collaboration between commercial retail shopping centers and tenant spaces. Thirty-four retail landlords and tenants from across North America came together to share their day-to-day challenges and explore common solutions. Here is what they told us.
The Most Common Landlord-Tenant Barriers in Leased Retail Space
Many of the challenges inhibiting efficiency best practices in shopping centers are the result of the regular communication pathways between property managers, landlords, and their tenants. Additionally, a shopping center is comprised of global, regional, and small retailers that may or may not have the resources to implement and/or participate in efficiency projects.
To explore these challenges highlighted through the workshops, check out IMT’s associated report, “Overcoming the Six Biggest Hurdles to Better Energy and Sustainability Performance in Leased Retail Spaces.“
In addition to digging into the six biggest hurdles these companies frequently encountered during efforts to plan and execute projects, we also look at tangible solutions to enable a cascade of high-impact energy efficiency and sustainability actions to take in leased buildings that align with ESG or corporate social responsibility goals in brick and mortar locations.
“It was enlightening to hear tenants’ perspectives on their priorities and challenges regarding energy and sustainability initiatives during the Retail Energy and Sustainability Summit. This insight as well as the relationships I developed at the Summit helped me to advance a renewable energy project with a tenant partner shortly thereafter.” – Daren Moss, VP Operations & Environmental Management at Brixmor Property Group
Want Help Getting Started?
IMT’s Landlord-Tenant Energy Assessment gives commercial landlords and tenants clear guidance on deploying win-win efficiency solutions that decrease energy use, save money, and achieve energy and sustainability goals. Take this quiz today to get recommendations on where to focus first.
Real transformation is achieved through collaborative action. As the Landlord-Tenant Energy Partnership works to solve the challenges identified at the retail energy & sustainability summits, we encourage real estate practitioners, operators, energy and sustainability managers, to join our growing community of change makers that are pushing the retail industry towards higher performance and more sustainable shopping centers.
By joining the Partnership, you can:
- Leverage the collective experience and knowledge of participating landlords and tenants.
- Receive access to exclusive events, industry experts, and tailored tools and resources that will help you reach your energy and sustainability goals.
- Participate as a stakeholder in cities motivated to implement efficiency policies.
Send us an email at firstname.lastname@example.org to learn how to join as a participant and receive access to the private LinkedIn group and visit landlordtenantenergypartnership.org for more information.
The Landlord-Tenant Energy Partnership (LTEP), an initiative of the Institute for Market Transformation (IMT) the International Council of Shopping Centers (ICSC), and the Retail Industry Leaders Association (RILA)— in collaboration with its strategic partners at Connex—are continuously working to provide retailers with peer-to-peer learning opportunities in collaboration with industry leaders and energy experts to help them develop easy-to-deploy building energy and sustainability solutions that lower operational costs and create significant value. Together, we are growing a community of like-minded companies that are motivated to improve the landlord-tenant relationship and drive higher performance in leased shopping centers and retail stores across North America.