Class B office properties that are LEED certified command a greater relative benefit than LEED-certified Class A buildings, according to analysis from CBRE.
The Class B LEED rent advantage over non-LEED is about three times larger than the premium earned by Class A LEED buildings.
“Class B LEED properties have an average 180-basis point (bp) lower vacancy rate and a $9.18 per sq. ft. asking rent premium compared with non-LEED Class B properties,” CBRE says. “This is a wider delta than for the Class A cohort, where LEED buildings have a 160-bp lower average vacancy rate and a $3.75 per sq. ft. asking rent premium.”
The study focused on Boston because it has a significant number of LEED-certified buildings in the downtown area. One in three Class A buildings are certified in the city and one in 10 Class B buildings has this certification.
Average rent for 20,000 buildings studied was 31% higher for LEED structures than for non-certified buildings. Energy Star certification also boosted rents.
Related Stories
Green | Aug 28, 2018
Chattanooga’s Miller Park set to open after $10.3 million overhaul
Spackman Mossop Michaels and Eskew Dumez Ripple partnered on the project.
Green | Aug 16, 2018
Vertical gardens: Wellness oases in the urban jungle
When there’s only so much real estate available in urban centers for parks, how’s a developer to bring in more green with biophilic design?
Green | Aug 15, 2018
What if your neighborhood could make you healthier?
The WELL Community Standard equips planners to build health promotion into the very fabric of neighborhoods.
Green | Jul 26, 2018
St. Paul aims for zero carbon in all buildings by 2050
The city is working for better efficiency and sourcing green power to reach its goal.
Green | Jul 26, 2018
DOE releases updated version of Better Buildings Financing Navigator
Version 2.0 provides renewable energy financing options, sector-specific and location-specific financing resources, and a smart database of financing providers.
Green | Jul 24, 2018
Cincinnati’s green approach to sewer discharge expected to save $100 million
Environmentally strategy does have its limits, though.
Codes and Standards | Jul 17, 2018
NIMBYism, generational divide threaten plan for net-zero village in St. Paul, Minn.
The ambitious redevelopment proposal for a former Ford automotive plant creates tension.
Sponsored | Energy Efficiency | Jul 2, 2018
Going solar has never been easier
There is an efficient system for mounting solar panels to roofs and turning roof real estate into raw power.
Multifamily Housing | Jun 27, 2018
To take on climate change, go passive
If you haven’t looked seriously at “passive house” design and construction, you should.
Accelerate Live! | Jun 24, 2018
Watch all 19 Accelerate Live! talks on demand
BD+C’s second annual Accelerate Live! AEC innovation conference (May 10, 2018, Chicago) featured talks on AI for construction scheduling, regenerative design, the micro-buildings movement, post-occupancy evaluation, predictive visual data analytics, digital fabrication, and more. Take in all 19 talks on demand.
