Green leases have the potential to save American business billions, so the federal government is highlighting those who lead the way.
The proliferation of green technology has many vehicles, and among them is a growing trend of commercial property managers who encourage green building through their leases. To recognize those in this field, the U.S. Department of Energy’s Better Building Alliance announced on May 27 its 2015 class of Green Lease Leaders.
The leaders, who were recognized as part of the Better Buildings Summit in Washington, D.C., include companies and individuals who collectively own or manage 415 million square feet of real estate across the nation.
The leading landlords include: Bentall Kennedy, Boston Properties, Cadillac Fairview, Deutsche Asset & Wealth Management, Forest City, NEO Realty Group, Shorenstein, TIAA-CREF and Weingarten. Recognized tenants include: Capital One and TD Bank Group. Six individual brokers were also recognized.
The green leases by those recognized reserved an average 20 percent on electricity output. In a 2015 report published by the Institute for Market Transformation, researchers identified that green leases might save American offices between $1.7 billion and $3.3 billion annually through reduced energy consumption.