With thirty-one years of commercial Real Estate experience in Facilities Management, Construction, Design (Mechanical/Electrical/Plumbing) and Consulting. A recognized expert in building systems and energy management, Mr. Fraser has specialized in multi-site facility operations and review, with a focus on energy acquisition and energy project design.

Founding FRASER LIMITED in 1976, Mr. Fraser has contracted his services to many high-profile real estate and energy entities over the years, most recently with PG&E Energy Services, Exodus Communications, and Westfield Corporation.

Prior to joining PG&E Energy Services as an international Director, Mr. Fraser served as an international Corporate Real Estate Consultant for Ernst & Young Kenneth Leventhal. He has held facilities and administration management responsibilities for David Rockefeller, Prudential Insurance, John Portman & Associates, Pacific Park Plaza and Wind River Systems.

In these positions he has been responsible for the immediate supervision of over one hundred Stationary Engineers, daily direct operation of eight million square feet of Class A office, retail, residential, guest and R&D in the United States and nine international sites. Construction/Project management include over ten million square feet of new and tenant improvement construction, with single project values exceeding one hundred million dollars. A specialty expertise often utilized is leading high-level negotiations. Experience in this field includes government employee unions, private sector union labor, and business sector negotiations up to 2.3 billion dollars.

Mr. Fraser is credited with writing and releasing the nation’s first true open market RFP for deregulated electricity. He has led or participated in energy commodity acquisition and related services totaling billions of dollars and including the largest single energy services agreement in history. In 2000-2001-2002 Mr. Fraser was the single largest buyer of electricity in the world, on behalf of his clients.  His experience includes representing the end user, intermediary, independent third party and supplier. Widely published in fields from Healthcare, Education, Hospitality, Real Estate and Energy, Mr. Fraser is also a prolific speaker who has addressed industry groups and audiences in excess of five thousand participants.

Mr. Fraser led the efforts of overall energy management for the Embarcadero Center in San Francisco, creating an established savings of seventeen million dollars over a six year period. Received Pacific Gas & Electric Company’s Award for Significant Rate Contribution, as well as group Congressional Mention for energy reductions. For a six hundred unit condominium tower, he led efforts resulting in a construction defects settlement of twenty three million dollars, and administrated the ensuing remedial design and engagements. During the first three months operating the facility power costs were reduced by fifty percent, an additional twenty five percent reduction in use was accomplished in the next six months. Mr. Fraser brought Wind River Systems, a forty-four percent compounded growth technology firm, from a small single local building, to the inception of a thirty-four acre multi-building campus world headquarters. Facing deregulation, Mr. Fraser negotiated a flat twenty five percent discount on electricity with the established local provider. As International Director for PG&E Energy Services he crafted the real estate industry deal structures responsible for bringing together the largest energy/real estate deal in history with Jones Lang LaSalle and sixty-three million square feet of commercial property.

Energy Acquisition and Strategy

*The fully bundled ESCO approach (1)

*Our Approach (2)

*Existing and Future Sites (3)

*The Master Plan (4)

*Efficient Contracting

(1) For convenience, there is value to be enjoyed by the one-stop-shop method of dealing with the large energy services companies (ESCOs). These companies will handle essentially all aspects of your energy program, and keep you free to operate your core business. The price of this though, is to shift the majority of the benefit to the services firm or, in other words, to leave money on the table.

Unbundling is the key to maximize the value (to you) that can be enjoyed from the new era of energy deregulation. This is implicit in that what the government has been doing is unbundling, while the energy services companies have been quick to attempt to rebundle the discrete components. Unbundling though does require a level of attention and expertise not typically found in a property management group, and the consequences of possibly lesser performance can be significant. Also, the strategy for every company must be different to assure the benefits are aligned with the specific company goals.

(2) With direct experience at the leading energy services firm in the country, as well as three decades of commercial real estate practice, FRASER LIMITED is uniquely poised to craft the appropriate strategy and detailed program for your comprehensive energy services approach. We can also handle, to any level of participation, the implementation of your program. Our services include without limitation the following:

Work with you to establish goals most beneficial to your organization

• Structure the goals so they are compatible with what the market offers and thus derive maximum value from the providers
• Bundle the requirements for maximum impact in the market, attracting key providers with refined offerings
• Craft and issue appropriate selection and proposal documents, or review for comment your existing documents and processes
• Select and retain providers through contract process and negotiation
• Define scope of work and process/timeline/specifications
• Implement
• Monitor and verify value delivery

These basic frameworks of services are meant as illustrative only, each firm will require a custom and flexible service package to most exactly meet its needs.

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(3) Clients often have an aggressive expansion program underway with new properties being constructed in locations both domestic and foreign. Heavy energy consumers, these properties pose an opportunity to enjoy savings from reduced electricity costs whether through deregulation, negotiation or other means. Such discounts will make the properties operate less expensively, and help maintain them as competitive in regard to their lease status with clients. Electricity is typically the single largest line item of operating expense, and is also the most fragile service of a utility nature. Contracts may be had that provide for discounted and more reliable energy. The best time to negotiate these terms are when a property does not yet exist, but is in the planning stage. Consequently the primary focus for clients should be on expansion locations. Discounts vary and have been seen from 1% to 25% depending upon location and the usage of the property.

Clients may also have many existing sites, again both foreign and domestic. Certain of these may be in locations where discounted energy is worthy of consideration due to the high cost of local electricity. Virtually any location may be subject to discount through various approaches such as utility negotiation; however it is prudent to create filters and prioritize which sights may return the maximum value. Such filters include areas with higher than average electric costs (California as example), open retail access or deregulation (again California and seventeen other states), and strong regional energy service providers. Other filters and criteria may also apply. In some circumstances an aggregation of these sites, or select from them, may be appropriate. Presently there is an immanent sunset on discounts in three states and these states should be prioritized to avoid missing the window of opportunity. Other existing locations can follow on a less aggressive pace as prudent following review.

The obtaining and implementation of energy programs for proposed and existing properties essentially is the same scope of work in terms of goals; the work processes and effort are different for existing than for proposed sites. The deliverable in both instances is the executed contract or other document allowing for the most beneficial energy source/services program possible for each site. A degree of discussion with appropriate client personnel will be required to become acquainted with long term strategies and goals, and so allow the pursuit of complimenting energy deals.

These energy deals take many forms from simple discounted commodity, to complex full-outsource Operations and Maintenance contracts. It is possible to shift construction cost burdens to energy service providers wherein they will provide all energy related infrastructure in exchange for a multi-year energy contract. It is possible to obtain guaranteed locks on either the energy budgets or the entire O&M budget. It is possible to acquire either a significant up-front cash benefit, or an on-going lesser annual cash benefit. And a wide range of other structure scenarios exist. Part of the deliverable will be the exploration, understanding, and crafting of the particular type strategy best suited for the client's strategic business plan. It must be noted that no one strategy will apply to all properties, and multiple service providers will be involved just as there are now multiple utility companies involved.

(4) An overall, or global, energy approach plan for the entire portfolio should be considered. This plan would detail by location, and by measure, the ongoing strategy of the client in its pursuit of value through energy services. Included would be commodity acquisition, infrastructure improvements, power quality, generation (on-site), financing, contract structures, outsourcing scenarios and the full range of possible deal structures. This would take the form of a step by step plan easily implemented by the client in-house or with third party assistance. Such a plan would become part of the strategic process when going to a new location and beginning to establish a new property. It would aid in the mechanical/electrical design, contractor selection, cost allocations, and operating expenses. This plan would also be applicable to existing sites that have not been converted to the company’s energy program, and would be ongoing in nature to accommodate the eventuality of capital improvements.

This comprehensive plan could be crafted in advance of any site-specific work as detailed above, and then be applied by clients as the template for all properties. In this case it would provide clients the greatest degree of autonomy in dealing with energy issues, and possibly be the only service required of FRASER LIMITED. However, due to client resource constraints, and the immediate need for action at many locations, it seems appropriate to pursue energy benefits in the order submitted. In this fashion the comprehensive plan will be modeled after the successful actions and negotiations enjoyed at various locations, and will be far more directly applicable with less staff in the end.

The portfolio-wide energy program is a work-tool document with step by step processes and procedures applicable to every property, and addressing all of the varied elements of deregulated energy services from billing, to commodity, to infrastructure improvements. This plan will be created around the expressed goals and internal processes of the client to best blend with the culture and business needs of the company. While it may be the case that clients have not developed plans for construction beyond the next year or two, it is the case that energy deals will expire, infrastructure capital projects will be required, deregulation status will change, and other related components of energy services will continue to evolve. Given this dynamic it is wise to possess a comprehensive program to remain proactive and retain maximum benefits.

(5) The ideal process will be to engage FRASER LIMITED for all three scopes of work concurrently. In this fashion we will minimize fees, and optimize the three processes. For example, utility billing services are an important part of reducing internal overhead costs, as well as understanding energy usage on a per-site and global basis. Billing services would typically be addressed in Phase Three - the global program, but if concurrently engaged will be incorporated into Phases One and Two as part of all energy deals.