“ Although rates
should and likely will
be higher than those
of non-green buildings,
it just hasn’t materialized
alized yet”,” said a senior vice president at
a Southeast-based REIT.
Green leases, which outline the
responsibilities of both tenants and landlords, are also not widespread, although
many executives believe such clauses are
inevitable. “2009 will be the year of the
green lease,” asserted a senior vice president with a property management firm
in the Southeast. But for now, only 24.4% of owners require them, with another Hotels
27.8% offering green leases only if tenants demand them.
As for the growing trend of city and
state entities mandating green building,
nearly 58% of those polled said that most Office
governments aren’t doing so correctly.
“I’m not sure what the local municipali- Retail
ties are doing, but our standards definitely exceed theirs,” revealed a Northeast-based building manager.
Said a principal at a national proper-ty-ownership firm: “Any government
regulation should require that all government buildings comply with it before
mandating the private sector to do so.
The public sector is the worst abuser;
they know nothing.”
Of course, not everyone was on board
with green building practices. One respondent, a partner in a Southeast-based ownership firm, has problems with the entire
concept. “It’s a colossal waste of money,”
he said. “There is no such thing as global
warming. And there is no shortage of
nuclear power. This is a religion or a following created by liberal architects and
engineers designed to rake in millions.”
Judging from the comments overall,
though, it looks like those opinions are in
the minority. Despite still being in its early
stages, green building is a priority of the
commercial real estate industry and will
likely continue to expand as individual firms’ programs mature.
As one Southwest owner of a development firm summed up:
“We as responsible developers cannot continue with wasteful,
irresponsible construction without regard for the environment
and energy resources. The time is now to adopt current technology for future change.” ◆
Ian Ritter is national editor for GlobeSt.com. For more on green and
sustainability, go to www.globest.com/green.
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