Chicago Tops List of Green-Certified Office Market

Chicago Tops List of Green-Certified Office Market

August 24, 2018
Green-certified office space in the nation’s 30 largest metros has reached 41 percent of market totals, according to the fifth annual U.S. Green Building Adoption Index published by CBRE and Maastricht University, which also found 11.5 percent of all buildings surveyed are ENERGY STAR labeled, while 5.2 percent of buildings are LEED certified, both at all-time highs.
Among the metro areas surveyed for this report, Chicago ranked highest with nearly 70 percent of its space green certified, followed by San Francisco at 64 percent, Atlanta at 58 percent, Los Angeles at 56 percent and Minneapolis at 55 percent.
“For investors and lenders in the commercial real estate sector, green building certification affects their cost of capital,” said Nils Kok, Associate Professor at Maastricht University. “The rationale is that such buildings have a more attractive risk profile, and may be more resilient when economic headwinds arrive.”
“Green building certifications have become an important proxy for sustainable practices, recognized by all stakeholders,” said David Pogue, CBRE’s Senior Vice President, Global Client Care. “Any significant change to one of these major certification programs can have a significant impact on the buildings affected. We will be closely watching for the results.”