It's Getting Harder to Persuade Landlords to Go Green

Monday, July 13, 2015

Bloomberg (06/25/15) Clark, Patrick

Commercial buildings consumed 20 percent of the energy used in the U.S. last year, according to a report by CBRE Group and Maastricht University in the Netherlands. The report also says 39 percent of the total office space in the top U.S. markets have green certifications, with 13 percent achieving LEED or Energy Star standards. However, owners of smaller office buildings have been slower to adopt sustainability measures with only 5 percent achieving LEED or Energy Star standards. Unfortunately, there are far more small office buildings. The study examined 24,777 buildings under 100,000 square feet and only 879 over 500,000 square feet. Landlords of smaller buildings do not have large corporate tenants with green mission statements, notes CBRE Group's David Pogue. "How do you motivate them?" he asks. "The messaging around energy efficiency worked for the big guys. Maybe the next step is that we need to find a different messaging for the owners of smaller buildings.”

Patrick Clark 7/13/2015

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