Lerner Enterprises is among the largest retail and commercial property management firms in the Washington, DC area. Its properties include one of the region's largest upscale shopping centers, White Flint. White Flint features an eclectic mix of 91 retail chains and specialty stores in a 600,000 square foot complex located in the heart of Bethesda, Maryland.
During the summer months, it became apparent that White Flint's 22-year old decentralized air conditioning system could not adequately maintain the cooling comfort of the facility. Tenants and patrons had begun to complain of the intolerable conditions and Lerner realized they needed to act quickly or risk losing both customers and proprietors. With little in-house skills to evaluate and determine the needs of the complex, Lerner realized that they needed the expertise of an energy management partner, and they selected Pepco Energy Services.
After thorough investigation and analysis of the facility's systems, Pepco Energy Services' engineers recommended a complete overhaul of the entire air conditioning system. Pepco Energy Services installed an 1800-ton central chilled water plant, as well as a high efficiency air conditioning system to meet the original building's design and central cooling needs, as well as accommodate future expansion needs.
White Flint not only received a reliable, high-efficient cooling system; they experienced generous savings as a result of the work performed. Pepco Energy Services managed all project implementation including design, engineering, construction management and even financing to help soften the blow of the significant capital investment. The HVAC needs of the 600,000 square foot facility were installed in a timely manner with minimal disruption to shoppers and store proprietors. Through Pepco Energy Services' unique financing programs, Lerner Enterprises was able to fund the new improvements and demonstrate how ownership could afford the costs of the project through an extended term lease arrangement. Pepco Energy Services will own the air conditioning system through the term of the lease and Lerner will manage and maintain the equipment. The careful collaboration of structural, mechanical and electrical design engineers will generate over $300,000 in yearly savings for Lerner Enterprises and its proprietors.
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Lerner Enterprises, founded by Theodore N. Lerner, is one of Washington, D. C.'s largest and most successful real estate developers. Lerner is involved in all phases of office, retail, hotel and residential real estate including acquisition, development, leasing and asset management. Lerner Enterprises has developed and currently manages through its leasing and management affiliate, Lerner Corporation, more than fifteen million square feet of office, retail and residential space.
Among developments included in its office portfolio are The Corporate Office Centre at Tysons II in McLean, Virginia; The Corporate Office Park at Dulles Town Center in Dulles, Virginia; 400 Army Navy Drive in Pentagon City, Virginia; 7799 Leesburg Pike in Tysons Corner, Virginia and White Flint North in North Bethesda, Maryland.