Wilson Meany: Flood Building

Delivered annual savings of $0.20/ sq. ft. over ~300k sq. ft.

Wilson Meany is a privately owned real estate investment and development firm focused on urban infill real estate in the Western United States.

The firm has managed and developed more than 10 million square feet of mixed-use, residential, retail and office properties. Assets under management are leased through a mix of net, modified gross and full-service gross leases.

The Flood Building is a downtown San Francisco landmark built in 1904 and located at the popular cable car turnaround at the intersection of Powell and Market streets. At 294,000 square feet and 12 floors, the building hosts 350 office and retail tenants, including the flagship store for Gap, as well as flagship  stores for Urban Outfitters and Anthropologie.

294,000 sq ft

$1/sq ft Project Investment

23% unlevered IRR

Value Add Developer

Find out how much ROI we can produce.

Financials

The projects implemented resulted in a cash-on-cash, 23% unlevered IRR with annual savings of $0.20 per square foot, equivalent to 13 months of rent from a typical office tenant. Payments were split over multiple years to meet the needs of the buildings’ combination of net leases for retail spaces and full-service gross leases for office space.

“We’re happy with the results of our Carbon Lighthouse project. In addition to the 23% return we’re receiving, we’ve also made the building carbon neutral and more competitive in the marketplace. This was a great example of doing well by doing good, and I recommend Carbon Lighthouse to other office building owners.”

The Flood Building
James C. Flood, Owner

The Nuts & Bolts: Our Process

Carbon Lighthouse implemented upgrades to nearly a dozen building systems without any tenant disruptions. Measurement and verification revealed energy savings were initially 9% below expectations, and Carbon Lighthouse took actions that resulted in an 11% increase in savings compared to original predictions.

ClientWilson Meany
ProjectFlood Building
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