According to a new survey of commercial real estate investors, green building is picking up steam. The survey, published in November issues of National Real Estate Investor and Retail Traffic magazines reports that corporations and developers are responding to the rising demand for sustainability and energy efficiency in commercial real estate.
More than 84% of responding corporate users and 77% of developers expect to own, manage or lease at least some green properties in the next five years.
Energy efficiency was the primary concern in selecting a green building to four out of five respondents. Water savings were the second most important factor in green site selection for developers (58%) and corporate users (53%).
Other points of interest include:
Corporate respondents are willing to pay an average of 4% more for LEED-certified buildings, which meet requirements of the U.S. Green Building Council’s Leadership in Energy and Environmental Design rating system.
Currently 52% of corporate respondents and 39% of developer respondents own, manage or lease some green properties.
One in four developers say green building increases construction costs by 10% or more.
The survey drew responses from nearly 400 corporate users and commercial real estate developers. A chief goal of the survey was to quantify how much green property is currently owned, managed or leased by corporate users and developers, as well as to determine how much is planned for the future.
The complete survey is available on the Web at www.nreionline.com.
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