This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Kimco Realty And PG&E Partner To Reduce Tenant Energy Usage In Shopping Centers

Stocks in this article: KIM

Kimco Realty Corp. (NYSE: KIM), the nation’s largest owner and operator of neighborhood and community shopping centers, and Pacific Gas & Electric Company (PG&E), one of the country’s largest natural gas and electric utilities, have launched a collaborative effort to reduce tenant energy use in existing shopping centers. Through this project, Kimco and PG&E seek to identify energy efficient improvements to leased retail spaces, to better understand the existing barriers to investing in such improvements, and to develop business models that encourage landlord and tenant adoption of efficiency measures. Kimco’s Westlake Shopping Center in Daly City, Calif., will serve as the project’s pilot site.

Kimco turned its focus to tenant energy utilization after its own data, collected since the company launched its Corporate Responsibility Program in 2010, showed that upwards of 85 percent of the energy used within its shopping centers results from tenant business operations. Landlord-controlled common area usage, which remains a focus of Kimco’s, accounts for the rest of a center’s energy footprint.

“As a real estate sustainability leader, our goal is to identify energy-efficiency improvements that will have the greatest impact, while developing investment models that will best serve the shopping center industry,” said Will Teichman, Kimco’s director of sustainability.

“PG&E is proud to partner with Kimco on this innovative project to reduce energy usage in their retail operations,” said Jess Brown, director of energy solutions and service for PG&E. “By expanding the focus beyond common areas in shopping centers to include tenant-occupied spaces, we will be able to help them achieve even greater energy savings.”

The 686,000-square-foot Westlake Shopping Center is located at John Daly Boulevard and Lake Merced Boulevard in Daly City, Calif. Kimco selected Westlake Shopping Center as the pilot site for the tenant energy efficiency initiative because of its location within PG&E’s service territory, the diverse range of retail tenants at the property, and because Kimco has been actively implementing efficiency solutions at the center. Recent enhancements include the installation of energy-efficient lighting in Westlake’s common areas, and the addition of a state-of-the-art energy management system to monitor and control common area electric usage. This month, Westlake will debut the San Francisco Bay Area’s first eVgo Freedom Station, which offers standard 240-volt electric vehicle charging and a DC Fast Charger that can provide a nearly full charge in about 30 minutes.

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,805.41 +127.51 0.76%
S&P 500 1,964.58 +13.76 0.71%
NASDAQ 4,483.7150 +30.9230 0.69%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs