Edge Capital Group (ECG) Helps Glendale Building Trim its Electric Bills
ECG said it proved the efficiency of its Expense Outsourcing by trimming electric bills at the 86,000-sq-ft office building by 10%, in addition to providing all the capital necessary to fund the retrofit. ECG said the success of its program is proving a timely counterpoint to the skyrocketing utility rates and increasingly frequent blackouts produced by California’s statewide power crisis.
The Glendale building, which houses the DPSS, was completed and occupied in late 2000. ECG was contracted by the developer Chase Partners Ltd. to deploy its unique Expense Outsourcing model, in which ECG utilizes conservation techniques to reduce energy costs and secure reduced rates and protection against rolling blackouts.
“We’re pleased that the results of our partnership with Chase Partners have been so positive,” said Scott Sossen, ceo of Edge Capital Group Inc. “We believe this ringing endorsement of our solution to the challenges presented by the power crisis create a significant market opportunity for ECG with both commercial and governmental clients.
“This transaction once again underscores our basic assertion: We have the answer to the state power woes. We can show our clients how to profit from the current crisis.”
Chase Partners Ltd. owns the building occupied by the DPSS. The building was designed by the architectural firm of Wayne Banks & Associates of Irvine and built by McCormick Construction of Burbank. ECG specialists upgraded wiring, installed more efficient lighting systems, and automated several maintenance procedures.
“Edge Capital Group executed the Expense Outsourcing model flawlessly,” said David A. Parker, Chase Partners President and Managing Director of the Charles Dunn Company. “The program paid for system improvements and cut our utility costs by 10%, a tremendous accomplishment in a brand-new building. ECG has delivered a superb solution to an enormous problem.
“The ECG model brilliantly addresses the challenges created by the California power crisis,” said Michael McCormick of McCormick Construction of Burbank. “We feel this program has significant potential to save the county a great deal of money, and we are actively considering deploying Expense Outsourcing across all the structures we build.”
Under the Expense Outsourcing model, Edge Capital Group provides up-front funding for energy-efficient equipment. All operational expenses are outsourced to ECG, which is responsible for paying all natural gas and electricity providers.
ECG then makes necessary energy-saving upgrades to the property, including rewiring, insulation, efficiency and maintenance procedure assessments, installation of more energy-efficient air conditioning, heating, and computerized building management systems. In most cases, ECG said it can significantly reduce energy costs.
The cost savings produced by lowered rates and reduced energy consumption provide ongoing cash flow to ECG. The building owner, the tenant, and ECG share in the savings.
For more information, contact Edge Capital Group Inc. (Yorba Linda, CA), 877-861-5829.