With a greater emphasis being placed on sustainability in Los Angeles and other parts of the Golden State, being green is becoming increasingly important in all areas of business, including in real estate. For this reason, the Institute for Market Transformation recently added multiple enhances to its Green Lease Leaders recognition program. It has collaborated with the Lawrence Berkeley National Laboratory and the Better Buildings Alliance of the U.S. Department of Energy on this initiative impacting commercial leases.
The Green Lease Leaders recognition program was launched back in 2014 and recognizes tenants and landlords in the industrial, retail and office sectors who are seeking to improve their water and energy use via the corporate guidelines and lease clauses they use. The goal of the program is to establish a new green standard for those in the leasing business. Since the program was created, commercial spaces spanning more than 1.3 billion square feet have been called Green Lease Leaders.
In October, the program took things a step forward by revealing revised criteria for green leasing, along with silver and gold recognition levels. It also now offers a newly designed website featuring a lease assessment tool that can be used online. In addition, new reference guides featuring example lease language are also available.
Going green with commercial leases is growing in popularity today, but being sustainable in the leasing world is not possible without first securing a lease or obtaining a piece of property that provides leasing opportunities to businesses. Leasing or purchasing real estate can be tricky, whether one is a novice or veteran in the real estate world. Fortunately, an attorney in Los Angeles can help with each stage of the process to make sure that one’s goals and best interests are upheld from start to finish.
Source: facilityexecutive.com, “Search Is On For 2018 Green Lease Leaders“, Oct. 31, 2017