Non-Green Office Buildings Sacrifice 8% in Rent Revenues
November 9, 2010
Dutch economist Nils Kok has published the most comprehensive statistical analysis to date on the relative value of green and conventional buildings. The results show that U.S. buildings labeled under the LEED or Energy Star programs charge 3% higher rent, have greater occupancy rates, and sell for 13% more than comparable properties. “Labeled buildings have effective rents [rent multiplied by occupancy rate] that are almost 8% higher than those of otherwise identical nearby non-rated buildings,” the study reports.