What the Water Crisis Means for CRE Owners
Because of the ongoing California drought and the statewide water restrictions, commercial real estate owners need to ensure water installations and irrigation systems use recycled water, and prevent water run-off and waste, according to a JLL report.
California’s water crisis and what it means for CRE owners reviews the regulations that were put into place on March 27 and the possible implications as well as water management solutions for commercial real estate owners.
It says that for landlords, incentives can help mitigate the costs associated with replacing lawns, improving irrigation systems and upgrading metering systems to monitor water flow more accurately.
According to the EPA, landscape water use for commercial properties can be as high as 22 percent for office buildings.
Bank of America expects to save 5 million gallons of water by transitioning from traditional landscaping to xeriscaping at six of its banking centers in Southern California.
San Diego Gas & Electric expects its new water-wise landscaping project at Century Park, its Kearny Mesa headquarters, to save the utility more than 4 million gallons of water a year, a 40 percent campus reduction.
Photo Credit: commercial office building via Shutterstock
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