Comstock Announces New ENERGY STAR Certification for Commerce District

Rhea-AI Summary

Comstock Holding Companies, Inc. (Nasdaq: CHCI) announced that 11400 Commerce Park Drive in Reston Station's Commerce District has earned the EPA's ENERGY STAR certification for 2024. The building scored 88 out of 100 on the EPA's ENERGY STAR scale, highlighting its superior energy efficiency. This certification, along with high indoor air quality ratings, reinforces Comstock's commitment to sustainability and responsible property management.

11400 Commerce Park Drive also holds the BOMA 360 Performance certification. This achievement joins a growing list of Comstock's properties recognized for energy efficiency and sustainability, including several ENERGY STAR certified buildings and LEED Gold and Silver certified properties.

Positive

• 11400 Commerce Park Drive earned ENERGY STAR certification with a high score of 88 out of 100
• The property also holds BOMA 360 Performance certification
• Multiple Comstock properties have received ENERGY STAR and LEED certifications, demonstrating a strong commitment to sustainability

Negative

• None.

Insights

Sustainability Expert

The ENERGY STAR certification for 11400 Commerce Park Drive is a significant achievement for Comstock, demonstrating their commitment to energy efficiency and sustainable building practices. With a score of 88 out of 100, this property is performing exceptionally well in terms of energy conservation.

This certification, along with others like BOMA 360 and LEED, enhances the value proposition of Comstock's properties. Energy-efficient buildings typically have lower operating costs, which can translate to higher profit margins or more competitive rental rates. Additionally, these certifications often attract environmentally conscious tenants, potentially increasing occupancy rates and rental income.

Comstock's growing list of certified properties indicates a portfolio-wide strategy focused on sustainability. This approach can lead to long-term cost savings, improved tenant satisfaction and enhanced market positioning. It also aligns with increasing regulatory pressures and investor focus on ESG (Environmental, Social and Governance) factors, which could positively impact the company's valuation and access to capital in the future.

11400 Commerce Park Drive joins list of portfolio properties with significant EPA distinction

RESTON, Va.--(BUSINESS WIRE)-- Comstock Holding Companies, Inc. (Nasdaq: CHCI) (“Comstock”), a leading asset manager, developer, and operator of mixed-use and transit-oriented properties in the Washington, D.C. region, announced today that 11400 Commerce Park Drive, located in Reason Station’s Commerce District, has earned the U.S. Environmental Protection Agency's (“EPA”) prestigious ENERGY STAR certification for 2024. The building scored an 88 out of 100 on the EPA's ENERGY STAR scale, highlighting the building’s superior energy efficiency.

For more than 20 years, the EPA’s ENERGY STAR program has identified the most energy-efficient products, buildings, plants, and new homes – all based on the latest government-backed standards and verified by a rigorous third-party certification process. The ENERGY STAR certification for 11400 Commerce Park Drive, which also includes achieving high indoor air quality ratings, reinforces Comstock’s ongoing commitment to both sustainability and responsible property management.

"We are proud to receive this certification from the EPA, which underscores our unwavering dedication to energy efficiency and occupancy comfort," said Tim Steffan, COO of Comstock. "This achievement not only reflects the high standards we set for our properties, but also contributes to the long-term well-being of the customers and communities that we serve."

In addition to achieving the ENERGY STAR certification, 11400 Commerce Park Drive also holds the Building Owners and Managers Association 360 Performance (“BOMA 360”) certification, which evaluates buildings against industry best practices in 6 major areas, including building management, operations, tenant experience, and more. Only buildings that satisfy the requirements in all 6 areas are awarded the BOMA 360 certification.

The ENERGY STAR certification for 11400 Commerce Park Drive is just the latest achievement from the growing list of properties in Comstock’s managed portfolio that have already been recognized for their energy efficiency and sustainability, including:

• ENERGY STAR Certified: 11480 Commerce Park Drive, 43777 Central Station Drive, 1900 Reston Station Blvd, 1902 Reston Station Blvd, 1906 Reston Station Blvd, 11440 Commerce Park Drive, and 3101 Wilson Blvd (The Hartford);
• Leadership in Energy and Environmental Design (“LEED” ) Gold (Core & Shell): 1902 Reston Station Blvd, 1906 Reston Station Blvd, and 1800 Reston Row Plaza;
• LEED Silver: 1900 Reston Station Blvd;
• LEED Existing Buildings: Operations & Maintenance (EBOM): 3101 Wilson Blvd (The Hartford).

Comstock’s comprehensive focus on sustainable development and energy efficiency reflects its leadership in creating high-performance properties that meet the evolving needs of its tenants while also contributing to a greener future.

About Comstock

Founded in 1985, Comstock is a leading asset manager, developer, and operator of mixed-use and transit-oriented properties in the Washington, D.C. region. With a managed portfolio comprising approximately 10 million square feet at full build-out and includes stabilized and development assets strategically located at key Metro stations, Comstock is at the forefront of the urban transformation taking place in the fastest growing segments of one of the nation’s best real estate markets. Comstock’s developments include some of the largest and most prominent mixed-use and transit-oriented projects in the mid-Atlantic region, as well as multiple large-scale public-private partnership developments. For more information, please visit Comstock.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20241021232641/en/

publicrelations@comstock.com

Source: Comstock Holding Companies, Inc.

FAQ

What ENERGY STAR certification did Comstock's 11400 Commerce Park Drive receive in 2024?

11400 Commerce Park Drive, located in Reston Station's Commerce District, earned the U.S. Environmental Protection Agency's (EPA) ENERGY STAR certification for 2024, scoring 88 out of 100 on the EPA's ENERGY STAR scale.

How does the ENERGY STAR certification of 11400 Commerce Park Drive impact Comstock (CHCI)?

The certification reinforces Comstock's commitment to sustainability and responsible property management, potentially enhancing the company's reputation and attracting environmentally conscious tenants.

What other certifications does Comstock's 11400 Commerce Park Drive hold?

In addition to the ENERGY STAR certification, 11400 Commerce Park Drive also holds the Building Owners and Managers Association 360 Performance (BOMA 360) certification.

How many of Comstock's (CHCI) properties have received ENERGY STAR certification?

According to the press release, seven of Comstock's properties have received ENERGY STAR certification, including 11400 Commerce Park Drive, 11480 Commerce Park Drive, 43777 Central Station Drive, and several buildings in Reston Station.