Lutz noted that cost is an important issue
because “I believe it is still the single largest
misconception.” He continued that there is
only a small premium and a significant portion is the paperwork, which is getting more
effective. “The percentage is so low—around
0.5% to 1% of the cost—that it doesn’t make
sense not to do it simply because of that.”
Kahn said that she believes most, if not
all, new class A product will be green,
whether it is certified by LEED or another standard. “I think you are going to see
that cost premium—if there is any—
diminish to nothing very soon.” When discussing lease rates, Kahn said she does
not think tenants are less willing to pay
for green. “There is a demand for better
quality and they are paying more for it.
Demand from the consumer side is there
and it is not going to go away.”
Walraven closed the webinar by saying
that larger Fortune 500 firms are absolutely
choosing green. “They are committed to
sustainability for recruitment, retention, HR
strategy and cost savings from operations
and from the people side of the business,”
she said. “They are not waiting for studies to
support that. They see that it makes more
sense.”—Natalie Dolce, GlobeSt.com
NEWS WRAP continued on page 66
In Brief
• Jones Lang LaSalle is establishing a
“sustainability university.” The center will
offer participants a chance to obtain professional accreditation as well as gain
specific skills related to the development,
management and leasing of sustainable
and energy-efficient commercial buildings. The Chicago-based firm hopes to
increase its LEED, BREEAM and other
sustainability-accredited professionals to
200 this year and 500 in 2009.
• Canyon-Johnson Urban Fund has
closed its third fund with $1 billion in
commitments, which surpasses the combined $900 million in equity of the two
previous funds. This latest vehicle will
facilitate more than $4 billion in new
developments and urban revitalization
projects in the top 40 US markets.
• Bethesda, MD-based Edge Commercial
has launched a new division, Edge
BioRealty, focused on the life sciences
sector. Former president, chief operating
officer and director of Medlmmune and
Human Genome Sciences, Melvin D.
Booth, has been named chairman of the
new unit. He, along with managing partner Robert J. Walden, will oversee the
division’s operations.
• In a deal valued at $350.5 million, GMH
Military Housing has been acquired by
Balfour Beatty plc, a UK-based engineering, construction, investment and
services firm. GMH Communities Trust of
Newtown Square, PA was the seller. Now
operating under the name Balfour Beatty
Communities, the firm maintains interests
in 12 housing projects on 37 military
bases with a development value of
approximately $3 billion.
• Houston-based Transwestern has kicked
off its “Ready…Set…Green” initiative. The
year-round program will teach tenants
ways of reducing their environmental footprint. The firm will also utilize the initiative to
educate its employees and provide its
clients with sustainable, energy efficient
solutions for their real estate.
