Green” is better when it comes to lower vacancy rates and higher rents, according to the CBRE brokerage in San Diego.
CBRE looked at buildings with LEED certification or Energy Star ratings. LEED stands for Leadership in Energy and Environmental Design, a ratings program by the U.S. Green Building Council. Energy Star is a rating system by the U.S. Energy Department.
As of June 30, green buildings overall were 11.7 percent vacant compared with 15.7 percent of nongreen buildings.
The lease rates on average were $2.42 per square foot per month, compared with $2.04 for nongreen.
“Green buildings continue to outperform non-green buildings in the San Diego market,” CBRE said in its recently released MarketView quarterly report.
The gap is less for Class A and B buildings, those that charge the most rent and offer the best locations and amenities. Nongreen buildings in this category charge an average $2.24 per square foot. Virtually all green buildings are Class A or B, said CBRE Research Manager M. Lawrence Kopp
Read more at: http://www.utsandiego.com/news/2012/sep/05/green-buildings-outperform-vacancy-rental-rates/
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