The Institute for Market Transformation (IMT) and the U.S. Department of Energy’s (DOE) Better Buildings Alliance recently announced the 2015 Green Lease Leaders. Established in 2013 with support from leading real estate practitioners, the recognition program distinguishes property owners, tenants, and brokers who are effectively using the lease as a vehicle to drive energy and water savings in commercial buildings.
Adopting LEED green building certification for new commercial construction is rising in popularity across the US as concerns about environmental sustainability and impact on commercial tenants mount. The commercial property without LEED certification faces a future where conversation about that property’s value that will be affected. On the buy side, tenants and prospects will use new benchmarks to make comparisons among properties that include LEED parameters as well as energy usage and performance metrics enabled by modern energy management with an eye toward sustainability On the sell side, landlords and brokers need to answer the mounting questions about suitability along sustainability lines as retailers increasingly factor green practice into conversations and customer experience.
A blue-ribbon (green-ribbon?) panel led today by Peter L. Mosca, GREEN, SFR at NAR Annual 2011 went a long way in exploring how to properly value green and sustainable commercial property from a range of angles, including appraisal, regulatory compliance, policy and operations. The panel included:
When it comes to green buildings, most commercial real estate brokers are in a bind. They have the trusted business relationships, they have the ear of the clients, and they’re positioned to stay put. But adding value to deals is harder than ever when the buildings themselves demand more and more from their handlers.