Weingarten Realty is proud to be amongst the elite group of recipients for Green Lease Leader designation from the U.S. Department of Energy’s Better Buildings Alliance and the Institute for Market Transformation in 2018. The announcement was made at the BOMA International Conference in San Antonio, TX, a conference that brings together thousands of commercial real estate professionals to share the latest industry trends, building innovations, and operational best practices.
Now in its fifth year, Green Lease Leaders was established by the Institute for Market Transformation (IMT) and the U.S. Department of Energy’s Better Buildings Alliance to recognize leading-edge companies and real estate practitioners who break down barriers to high-performance buildings by revolutionizing the lease to incorporate energy efficiency and sustainability.
What is Green Leasing?
Green leasing, also known as “energy-aligned” or “high-performance” leasing is a powerful and growing real estate trend that provides a win-win framework for landlords and tenants to invest in and benefit from energy efficiency and sustainability improvements—standard leases have historically been a roadblock to greater investment and action on efficiency. A green lease agreement guarantees that environmental measures are implemented by landlords and tenants, and it acts as both a catalyst and safeguard for achieving goals and savings for both parties. Green leasing has also been shown to unlock efficiency improvements that help lower operating expenses, increase return on investment, and lead to more healthy and efficient spaces that are attractive to employees and customers, among other benefits. An IMT study has shown that green leases have the potential to reduce utility bills by up to $0.51 per square foot (11-22 percent) in office buildings alone, and, if all leased office buildings executed green leases, the U.S. office market alone could save over $3 billion in annual cost savings.
“With leased space representing more than half commercial building energy usage in the U.S., DOE and IMT are working side-by-side with real estate industry leaders on ways to bring building energy efficiency and affordability in leased spaces forward,” said Kathleen Hogan, Deputy Assistant Secretary for Energy Efficiency at DOE. “This year’s Green Lease Leaders demonstrate that by using mutually beneficial lease language to collaboratively address building performance, landlords and tenants are achieving higher energy savings and improving tenant satisfaction.”
To learn more about Weingarten Realty’s GreenForward program to implement sustainability efforts visit, weingarten.com.
Several enhancements were made to the Green Lease Leaders program this year, including revised green leasing criteria that aligns with the U.S. Environmental Protection Agency’s (EPA) Energy Star for Tenants, Gold and Silver recognition levels, a newly designed website that includes an online lease assessment tool, and brand new resources including reference guides with sample green lease language and templates.
For more information on the Green Lease Leaders program and this year’s recipients, visit greenleaseleaders.com, and to learn more about the benefits of green leases and landlord-tenant collaboration on efficiency, visit the Green Lease Library at greenleaselibrary.com.