November 9, 2007—A new national survey of the commercial real estate sector reveals that nearly two-thirds of respondents have allocated funds to green initiatives, while the majority said that their sustainability investment will increase in 2008.
Findings of the study by ALMs Real Estate Media Division, the Building Owners and Managers Association International and the US Green Building Council (USGBC) were released at Greenbuild 2007, the annual conference and expo sponsored by the USGBC.
Complete reporting on the survey will appear in the November issue of Real Estate Forum magazine, online at GlobeSt.com and in the January/February issue of The BOMA Magazine.
Other findings include:
- Green buildings boast occupancy rates between 75 percent and 100 percent for a majority of those responding. For 21 percent of respondents, the increase is due directly to green initiatives.
- 61 percent of responding executives claimed a return on their green investment.
- Respondents were almost evenly split on whether local municipalities should mandate energy efficiency in buildings. Many felt that any mandate should be offset by incentives or apply only to new construction.
- Maintaining a green building is not typically more expensive than a comparable non-green building asset.
The survey focused on the application of green methodologies and technologies in existing commercial buildings, and on the financial and marketing benefits of these efforts. It was distributed to REM’s national database of ownership, investment and operational entities, as well as to BOMA’s national membership.
To obtain a copy of the complete survey and results, go to GlobeSt.com.
