Do Green Buildings Make Dollars and Sense?
Norm G. Miller, PhD, University of San Diego, Burnham-Moores Center for Real Estate and Dave Pogue, LEED AP and National Director of Sustainability, CB Richard Ellis (11-23-2009)
An analysis was conducted of operating costs, energy impacts, productivity, and tenant attitudes from a major real estate portfolio. The results provided here are based on a survey of 154 green buildings and an additional similar-sized set of peer buildings along with over 700 tenants who have moved into primarily Energy Star-labeled buildings managed by CBRE. Results suggest that many tenants find such space more productive, and these buildings do save money on energy costs although total operating expenses tended to run similar to the peer set. Results also suggest that green management practices are increasingly important to tenants.