LEED-certified buildings consistently earn higher rents than non-LEED properties, according to new research from Cushman & Wakefield.
Since 2015, rents for LEED-certified buildings have averaged 11% higher than those of non-LEED properties. The research also indicates that newly delivered LEED buildings were more resilient during times when the real estate market softened.
Since 2018, vacancies in LEED properties have fallen sharply. Even prior to the pandemic, LEED vacancy fell below that of non-LEED properties.
Cushman forecasts that by 2023, about 80% of investors intend to incorporate ESG into their commercial real estate strategy. A potential drag on that trend is that achieving ESG milestones through LEED is typically is more expensive than other strategies. To date, LEED certified buildings account for just 2.5% of total urban office properties in the U.S.
Related Stories
Codes and Standards | Apr 7, 2020
Dept. of Labor publishes guidance on paid sick leave, expanded family and medical leave
Includes fact sheets for employees, employers, and a questions and answers document.
Codes and Standards | Apr 1, 2020
Standards and codes meetings halted, postponed
ASTM International cancels in-person standards meetings; DOE’s National Energy Codes Conference postponed.
Codes and Standards | Mar 26, 2020
Ransomware attack on Canadian contractor underscores need for cybersecurity
Victimized company Bird Construction has defense, law enforcement contracts.
Codes and Standards | Mar 23, 2020
Contractors should scrutinize contracts carefully amid Covid-19 crisis
Compliance with time-sensitive notice requirements and careful documentation required.
Codes and Standards | Mar 23, 2020
Florida legislature passes bill to reduce retainage on state and local projects
House and Senate vote is nearly unanimous; law would go into effect Oct. 1.
Codes and Standards | Mar 20, 2020
Feds prod use of eminent domain to force people out of flood-prone homes
Local officials that don’t comply could lose federal money to combat climate change.
Codes and Standards | Mar 19, 2020
ASHRAE provides COVID-19 resources for operating, maintaining HVAC systems
Includes recently approved position document on Airborne Infectious Diseases.
Codes and Standards | Mar 19, 2020
CaGBC launches new version of its Zero Carbon Building Standard
Version 2 draws on lessons from more than 20 zero carbon projects.
Codes and Standards | Mar 16, 2020
Concrete industry reduces carbon footprint by 13% over five years
Result mostly due to more efficient use of Portland cement.
Resiliency | Mar 13, 2020
Feds push use of eminent domain to force people out of flood-prone homes
Local officials that don’t comply could lose federal money to combat climate change.