Building Momentum for Green Leases - They Make Good Sense for Landlords and Tenants Alike
August 31, 2009
Dennis G. Egan, Jr., Esq.
By now, most people are familiar with the term, “going green,” and the concept of green building, but many people may not be familiar with green leasing. While there is as of yet no standard definition of the term, green leasing generally integrates recycling, sustainable development principles, energy and water conservation, alternative energy usage, and hazardous materials (usually cleaning materials) use and disposal, with the standard leasing concepts of operating expenses, rent structure and tenant build-out costs.
Most green leases include provisions for the reduction of energy usage through such simple measures as energy efficient fixtures and equipment, turning off lights, motion sensors, and increased rent for “after hour” business operations. These leases also contain clauses requiring recycling programs, sustainable buildout materials, air quality standards, and reduced water usage.
Just as green leasing lacks a standard definition, there is also no single certification given to identify a lease as a green lease. Instead, ...
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BusinessWest
August 1, 2009
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