Tenants and Landlords See Value in Sustainably Managed Office Space with Green
Green leases offer 10 opportunities to benefit tenants, landlords and the
CHICAGO, April 22, 2013
CHICAGO, April 22, 2013 /PRNewswire/ --Each year when April 22 rolls around,
thousands of companies trumpet their sustainability initiatives paying homage
to Earth Day while correlating Earth Day to a particular "green" product or
service. To reinforce a commitment to the Earth throughout the year, companies
can validate their dedication to sustainability by making their office space
environmentally friendly. Signing a "green lease" puts that commitment in
writing, while typically achieving energy and cost savings.
(Photo: http://photos.prnewswire.com/prnh/20130422/CL98388 )
Rising in popularity with corporate tenants and their landlords (and even
municipalities like New York City and San Francisco), green leases improve the
environmental performance of a leased office space, ensuring that the company
occupying the space and the landlord that owns the building are operating in a
sustainable manner from the inside out. This energy and cost saving tactic
typically results in additional cash flow for the building by increasing its
appeal to corporate tenants.
"Green leases combine the productivity, comfort and sustainability features
that tenants are looking for in office space while supporting landlord
priorities of improving the triple bottom line and occupancy rates," said
Michael Jordan, Executive Vice President of Sustainability Strategy for Jones
Lang LaSalle (JLL), a leader in green lease administration. "In addition to
achieving both tenant and landlord objectives, green leases have social,
economic and environmental implications for companies operating in today's
global economy. Green leases truly are the future of commercial real estate,"
Ten Reasons to Sign a Green Office Lease
Jordan and the JLL Energy and Sustainability Services team recommend that
tenants and landlords collaborate to develop a green lease that benefits each
party, typically including the following ten benefits:
1.Reduce Utility Consumption and Save Money
2.Improve Working Relationships Between Tenants and Landlords
3.Support Corporate Sustainability Initiatives
4.Enhance Corporate Image/Brand
5.Demonstrate Vision and Thought Leadership
6.Improve Civic Relations
7.Contribute to LEED and Other Green Certifications
8.Improve Employee Productivity, Recruitment and Retention
9.Generate Additional Savings through Waste Stream Diversions
10.Do the Right Thing for the Environment and its People
In celebration of Earth Day 2013, Jones Lang LaSalle released a white paper
that goes into detail on the return on investment (ROI) associated with each
of the benefits listed above. The white paper is available for download here
or you can request a copy from JLL directly. Jordan also provides specifics
regarding 10 benefits of having a green lease in the firm's green blog.
How to Structure a Green Lease
As tenants and landlords continue to see value in making office space more
sustainable, green leases will become the new norm. To make a lease "green,"
the terms must be structured to drive sustainable cost savings without
negatively impacting building performance or comfort. As with every lease, the
green criteria should undergo careful evaluation to maximize effectiveness,
sustainable success and cost savings.
"When weighing the costs and benefits of a green lease, consider completing an
in-depth green lease site assessment and integrating RFP language that
incorporates benchmarked green criteria applicable to both new leaseholds and
renewing/renegotiating existing ones," said Meaghan Farrell, Vice President of
Strategic Consulting for JLL. "Working with an advisor that understands both
commercial leasing and green leases is critical to achieving both your real
estate goals and your sustainability target," she said.
Jones Lang LaSalle employs 1,500 energy and sustainability accredited
professionals in more than 30 countries around the world with skills in
facility and property management, energy assessments, retro-commissioning,
retrofits, project management, LEED and other certifications, renewable
energy, sustainability consulting, renewable power solutions, workplace
strategy, green lease programs, employee engagement and sustainability program
design. JLL is an ENERGY STAR Sustained Excellence Partner and a lead sponsor
of the Carbon Disclosure Project (CDP) Cities program.
For more news, videos and research resources on Jones Lang LaSalle, please
visit the firm's global media center Web page
About Jones Lang LaSalle
Jones Lang LaSalle (NYSE:JLL) is a professional services and investment
management firm offering specialized real estate services to clients seeking
increased value by owning, occupying and investing in real estate. With annual
revenue of $3.9 billion, Jones Lang LaSalle operates in 70 countries from more
than 1,000 locations worldwide. On behalf of its clients, the firm provides
management and real estate outsourcing services to a property portfolio of 2.6
billion square feet. Its investment management business, LaSalle Investment
Management, has $47.0 billion of real estate assets under management. For
further information, visit www.jll.com.
SOURCE Jones Lang LaSalle
Contact: Jennifer Harris, +1 224.619.2190, Jennifer.Harris@am.jll.com; Rebecca
Taylor, +1 312.228.2817, RebeccaM.Taylor@am.jll.com
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