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 June 27, 2007

Going Green is Growing: Here are 5 Reasons Why
Reports show that upwards of 40% of the 300 United States real estate investment trusts (REITs) are actively pursuing both green and energy efficient building upgrades. An additional 27% have plans in place to do so as well.
Here are the factors that are driving the current trend to build green:



Building green no longer means higher costs. Studies show that the average cost to build green results only in a 0.8% increase in building expenses. This additional cost is easily recouped through lower operating costs.

Building green draws attention. High-profile corporations which have green headquarters bring a lot of positive attention to themselves. Here are a few examples: Bank of America, Toyota, JPMorgan Chase, Hearst and IBM.

Increasing mandates. 40+ municipalities and 9 states around the country have passed legislation which mandates green construction.

Client preference. More tenants and clients are showing a preference for green buildings. Tenants within green buildings report increased productivity, lower absenteeism and greater employee retention. A combination of more satisfied occupants and lower operating expenses translates into 3.5% higher rate of occupancy and 3% higher rents.

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