Mall property managers keep a running list of cost-saving tips for their retail tenants. Here are a few commonsense, but proven, dollar-saving tactics from Larry Jensen, executive VP of Atlanta-based Jones Lang LaSalle, which manages the largest retail portfolio in the United States.
Turn off your storefront sign at night.
Why leave your sign on inside the mall when no one is around to see it? At JLL-managed malls, security personnel patrol the hallways at night and make note of which retailers should try out that energy-saving tip, then communicate the idea with tenants.
Take advantage of mall recycling programs.
“Recycling is good for the environment, of course, but if you participate in the mall program you avoid the hauling and tipping fees for having those containers pulled,” said Jensen.
Watch your water consumption.
“We are watching the water flow in our mall restrooms—installing low-flow fixtures and ensuring faucets are off—and tenants need to keep just as sharp an eye on their own store restrooms,” he added.
Use the economizer modes at night on your HVAC systems.
Change your bulbs. Just swapping incandescent for fluorescent spotlights can save up to 75% in energy consumption.
Develop a checklist for store managers. “Every store should have a dollar-saving strategy in place for opening and closing crews to follow,” said Jensen. A typical checklist would include shutting off lights in stock rooms and adjusting the temperature up in the summer and down in the winter before closing up the store each night. To help associates discern what utilities should be left on and which should be shut off, color-code the breaker boards, suggested Jensen.