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.
The brokers recognized are market leaders who successfully add value for clients on major sustainability and energy issues, providing crucial guidance as the demand for green buildings grows.
This year’s recipients are:
- Meade Boutwell (CBRE)
- Randy Harrell (CBRE)
- Laurie McMahon (DTZ)
- Greta Garner, REALTORⓇ (Green Coast Realty)
- Brant Smith, REALTORⓇ (NEO Realty Group)
- Sally Wilson (NGKF)
“In addition to so many forward-thinking property owners and tenants this year, we’re excited to be celebrating commercial brokers too as they play such a vital role in real estate transactions,” said Adam Sledd, Director for IMT’s commercial real estate engagement program. “Brokers facilitate many interactions between landlords and tenants, and are relied on to identify and add sustainable best practices into the lease—this year’s Green Lease Leaders show a clear sign of the mastery of proven measures to reduce operating expenses and lessen the impact of buildings on the environment.”
A green lease encourages collaboration to take action to improve efficiency, saving tenants and building owners on average, 10-20 percent each month on a building’s energy and water bills. Since brokers are central to all aspects of a commercial transaction, their knowledge and expertise in clauses and addendums that cut energy waste is crucial for savings to be realized. A study released by IMT last week showed that green leases could deliver nearly $3 billion in annual savings for the U.S. office sector alone.
Historically, real estate owners and tenants have had difficulty integrating sustainability into the lease process due to tension between owners and tenants over responsibilities and cost-sharing arrangements.
The Green Lease Leaders program is helping to define green leasing and shine a light on replicable solutions that can be employed by others to get past split incentives.
“Today I’m pleased to announce the continued success of the Green Lease Leaders program,” said Dr. Kathleen Hogan, Deputy Assistant Secretary for Energy Efficiency at DOE, during a presentation at the
Better Buildings Summit. “This effort is showing that cooperation on energy efficiency is no longer just a niche practice.”
ABOUT THE INSTITUTE FOR MARKET TRANSFORMATION
The Institute for Market Transformation (IMT) is a Washington, D.C.-based nonprofit organization promoting energy efficiency, green building, and environmental protection in the United States and abroad. IMT’s work addresses market failures that inhibit investment in energy efficiency and sustainability in the building sector. For more information, visit imt.org and follow us on Twitter at @IMT_speaks.
ABOUT THE BETTER BUILDINGS ALLIANCE
The Better Buildings Alliance is a U.S. Department of Energy (DOE) effort to promote energy efficiency in U.S. commercial buildings through collaboration with building owners, operators, and managers. Members of the Better Buildings Alliance commit to addressing energy efficiency needs in their buildings by setting energy savings goals, developing innovative energy efficiency resources, and adopting advanced cost-effective technologies and market practices