News: Brokerage

Profiles in lighting upgrades: 2008 series

Without a doubt, lighting upgrades involving energy-efficient lamps, ballasts, controls, and other products stand as some of the most attractive investments around and serve to promote green and sustainable design. This special 2008 series offers examples of how real-life commercial, institutional, and industrial properties nationwide have successfully pursued and benefited from lighting upgrades. A high-profile property within the hospitality industry, Las Vegas' El Cortez Hotel & Casino holds a position of local respect in the area's renowned downtown entertainment mecca. Dating back to the 1940s and once owned by legendary mobster Bugsy Siegel, the 710,000 s/f hotel recently conducted a lighting upgrade to improve lighting quality and reduce energy costs while maintaining the building's vintage ambience. The upgrade involved the replacement of older T12 fluorescent lamp technology and magnetic ballasts in the main hotel, inefficient incandescent lamps throughout the facility, and 100-watt low pressure sodium lamps in the parking garage with energy-efficient T8 and T5 fluorescent lamps, compact fluorescent lamps, electronic ballasts, and LED light sources. The upgrade paid itself back in just 1.62 years and reduced the facility's annual energy consumption by over 1.6 million kWh, qualifying for an attractive $18,000 incentive from local utility Nevada Power along the way. " Thanks to their lighting upgrade, the El Cortez Hotel & Casino now sports a modern and energy-efficient lighting system that helps retain the hotel's legacy as an integral part of Las Vegas culture and history. Susan Bloom is director of corporate communications for Philips Lighting & Advance, Somerset, N.J.
MORE FROM Brokerage

Century Cricket Centre to open first U.S. location near Bryant Park in 14,000 s/f lease

Manhattan, NY Century Cricket Centre, an Australian-backed indoor cricket and sports-tech concept, will open its first U.S. location in a 14,000 s/f at 25 W. 39th St. near Bryant Park following a 15-year lease arranged by Lee
READ ON THE GO
DIGITAL EDITIONS
Subscribe
Columns and Thought Leadership
New York’s streets are full again, and the retail numbers prove it - by Noam Aziz

New York’s streets are full again, and the retail numbers prove it - by Noam Aziz

Walk down any New York block this year and you can feel it. The sidewalks are crowded, the storefronts are lit, and the energy that defines this city is back at full volume.
Hunt commercial real estate question and answer: The total cost of relocation - by David Hunt

Hunt commercial real estate question and answer: The total cost of relocation - by David Hunt

You have a right to be concerned. I am always surprised at the companies that will negotiate the price of their new facility down to the last dollar, without thoroughly analyzing their
Artificial intelligence in lending - by Lindsay Mesh Lotito

Artificial intelligence in lending - by Lindsay Mesh Lotito

Artificial intelligence (AI) is beginning to help transform lending by enhancing decision-making, improving risk management and streamlining operations. With AI-powered tools that analyze vast amounts of data, lenders are able to assess borrower creditworthiness more accurately and efficiently. AI can evaluate a wide range of factors,
The death of the generic offering memorandum: What buyers expect in 2025 - by Kimberly Zar Bloorian

The death of the generic offering memorandum: What buyers expect in 2025 - by Kimberly Zar Bloorian

There was a time when an offering memorandum (OM) was pretty bare bones, some photos, a few bullet points on income, and a rent roll thrown in at the back. That used to get the job done. Not anymore. In 2025, buyers are sharper, faster, and more selective. They’re looking