Tuesday, November 20, 2007
The Proof Is In! Green Buildings Get Higher Rents, Have Greater Occupancy, Says Just-Released Study
The first systematic study of occupancy rates and rents for Energy Star certified large Class A office buildings (some 223) vs. non-Energy Star certified buildings (some 2,077), showed that as of the second quarter of 2007, Energy Star buildings had about 2 percent higher occupancy rates and $2 per sq.ft. greater rents. If the cost of adding energy efficiency features necessary to get an Energy Star rating is $4 per sq.ft., for example, then the payback, just on rents, is 2 years, not counting the benefit of extra occupancy. Operating costs for these buildings run $0.54 per sq.ft. lower. The authors state, “together, the higher occupancy rates, higher rents and lower operating costs translate to significantly higher values. Our results show higher sales prices by 30% more per square foot.”
Posted by Jerry on 11/20/2007 at 02:05 PM
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