The Leader - January/February 2009 - (Page 30)

G lo bal T r e n d s i n s u s Ta in a b le r ea l esTa Te: Cor p o raTe p e rs p e CTi v e s their own properties than to pay a premium rent to another owner. In fact, 40 percent said they would pay a premium for leased space and 53 percent would invest to retrofit their own buildings, far below the previous year’s results. Eight percent believe that sustainable space should be less expensive than traditional space, up from four percent who believed that in 2007. Decreased interest in paying for sustainability can be attributed in part to the challenging economic climate, which may have reduced the availability of funds for green initiatives. However, there was no corresponding drop in emphasis on sustainability; quite the opposite, in fact. The more logical scenario – and one that is reinforced by Jones Lang LaSalle’s experience with corporate clients – is that CRE executives in the past year have become more educated about sustainability costs and benefits, such that many have concluded that green space need not cost more. This view is accurate only up to a point. Energy management strategies can have a very favorable financial return for very little cost, and strategies such as recycling programs may be cost-neutral while creating goodwill among employees. But other strategies – installing a green roof or retrofitting HVAC systems, for example – have a much longer payback period that may be unsupportable for many companies. It’s no surprise, then, that survey respondents report the broadest implementation of sustainable strategies that cost little and provide some clear benefit. Recycling is the most widely implemented strategy, as 75 percent of respondents reporting broad implementation across their portfolios, and an additional 18 percent engaged in limited implementation. The financial payoff of recy- cling is not merely limited to reduced trash hauler fees and, in some areas, minimal payments by haulers for pre-sorted materials, but also reduces the amount of landfill taxes that are being introduced in some European countries. The cost of putting these programs into place is very low, and employees tend to feel better about their company when they have an opportunity to recycle. “We have been very successful utilizing our sustainability position as a great recruiting tool to attract, engage and retain top tier talent,” said one respondent. In addition, 57 percent of respondents have implemented a broad energy efficiency program, another 31 percent are implementing on a limited implementation and 10 percent are considering or pursuing a pilot program. Water conservation – a strategy representing a less significant cost savings opportunity than energy, but 2 0 0 9 Th e le ade r 30 January / February http://www.mansfield-texas.com

Table of Contents Feed for the Digital Edition of The Leader - January/February 2009

The Leader - January/February 2009 Contents Leadership Message from the CEO Real Estate in the News Mergers and Aquisitions Assessing Green Building Performance Measuring Space You Actually Use Global Trends in Sustainable Real Estate Whirlpool’s Lee Utke Northmarq’s Kevin Farrell Plastics: Hoping for Resiliency in Resins Regional Profile: Heartland Holding Strong Industry Profile: Ascendas Brings New Age Business Space to Asia-Pac Industry Tracker From the Applied Research Center Discovery Forum Findings Capital Corner Career Development Young Leader Economic Development in the News Learning Spotlight Connect With CoreNet Global Index of Advertisers A Look Ahead In our Next Issue Calendar of Seminars

The Leader - January/February 2009

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