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Moving Into Some $$$WEET Music & Green Office Building$$

sweet music is GREEN music

This isn't really news to those of us who predicted it. But, even on second glance,  taking another look at ordinary "non-green" buildings as compared to nearby " green" buildings, still ignites a broad smile on the faces of both REALTORS®  and our clients/investors. .   What generates that reaction and is $$$$weeeeet Music to my  ears  ?

Add it up and tell me if it sounds good to you. . ..

Happy inhabitants.
Savings in energy costs.
Savings in $$$s.

1.Green buildings have higher occupancy rates, and added ROI.

  • 2. Green buildings have lower variability in occupancy  and added ROI.
  • 3. Green buildings are higher quality - 79% are class A compared to 35% in comparison buildings. This adds up in $$$.
  •  
  • 4. Green buildings tend to have more on-site amenities such as retail shops, mail rooms, and exercise facilities. This adds up not only in quality of life, but in financial gains.

As a 1031 investor, adding this all up, I might  be inclined to "listen up". . .but what about the background research?

Certainly green building concepts have changed the way we design, construct, operate and generally, think, about buildings and communities. But up until recently there has been no definitive study of the doing well by doing good "value-added factor"... 

Latest Research: We're Moving into some " SSS weet Music" in  Green Office Buildings.

In a newly released working paper authors John Quigley,  Piet Eichholtz, and Nils Kok  discuss the economic value of green building certification in the commercial sector.  They matched publicly available information on 694 certified green buildings.  According to the research, the authors deduced that " at a generalized cap rate of 6%, conversion of a non-green building to an equivalent green building would add more than $5 million in market value." 

" Is this the elusive  'value-added' factor"?, I wondered  Possibly. So. I began delving into more researchvia the WWW and the UNCA Library.  What I have came up with is that this  study, along with a good review of other  literature and case studies, finds that not only are green buildings good for the environment, provide healthier places to live and more productive places to work, but that they can command higher rents and prices, attract tenants more quickly, reduce tenant turnover and cost less to operate and maintain. Care to do a quick perusal?

Resources:

Jetson Green  a daily updated web magazine that's obsessed with green building, sustainable architecture, good design, clean technology in the built environment, and eco-friendly development. I subscribe to this Ezine. You may enjoy it, too.

 GreenBuilding.com There are tons of  green building ideas on this page. While they my not be  for complete, they are interesting and I think, relevant, especially if you are interested in  combating today's increasing energy costs and raising the value of your home. 

Green Construction Purchasing  and the GPC Wire offering the latest news on topics such as:

Green extends to blacktop 08/14/08
(PressOfAtlanticCity.com)
Kirsch Center wins LEED Platinum 08/13/08
(MercuryNews.com)
Green neighborhood development debuts in Omaha 08/11/08
(REjournals.com)
Newsom signs groundbreaking green building ordinance 08/11/08
(CaliforniaChronicle.com)
Looking to score some LEED points? 08/11/08
(ZDnet.com)
Peet's Coffee & Tea earns LEED Gold for coffee roasting facility 08/06/08
(Costar.com)
A green station for the folks in blue 08/06/08
(StarTribune.com)
NSF earns LEED Silver certification 08/04/08
(EPOnline.com)
Las Vegas bets on environmentalism 08/04/08
(USAToday.com)

 US DEPARTMENT OF ENERGY: Building America: NAHB Green Home Building Guidelines . The NAHB Green Home Building Guidelines, consisting of a Checklist and a User ... value is accomplished by way of consensus among the members of the green home ... 

Let me know what you think. . .

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Comments

Certainly green building concepts have changed the way we design, construct, operate and generally, think, about buildings and communities.

Posted by . 4Terra Land Brokers .. 828-776-0779 Asheville NC, What's Most Important to YOU? Call(828)-776-0779 ( REAL ESTATE RESOURCES & NETWORK ) over 11 years ago

Great post and excellent points. Investors will start thinking green when it makes sense in their pocketbooks. I like your tactic - convince them to go green by showing them the money!

mark hall vancouver wa real estate www.ernw.org

Posted by Mark Hall, Homes for Sale Vancouver Washington (Realty One Group Cascadia) over 11 years ago

Wow, janeAnne that is certainly some valuable information.

You really work assiduously researching these articles.

I would bet, in the near future, green building will just be called regular ole building due to the multitude of positive features obtained from following the path of innovation.

Anything less will become undesirable, will it not?

Is this a naive projection?

NeighborJohn

Posted by John Narrin (ECO-Steward Realty) over 11 years ago

I forgot to say, sweet capture there (the photo)!

NeighborJohn

Posted by John Narrin (ECO-Steward Realty) over 11 years ago

Mark~

 Thanks for your kind words. I think you hit the nail on the head when you commented, " Investors will start thinking green when it makes sense in their pocketbooks.."

Posted by . 4Terra Land Brokers .. 828-776-0779 Asheville NC, What's Most Important to YOU? Call(828)-776-0779 ( REAL ESTATE RESOURCES & NETWORK ) over 11 years ago

JT~

You commented, " I would bet, in the near future, green building will just be called regular ole building due to the multitude of positive features obtained from following the path of innovation...." and I could not agree more...good point!

Posted by . 4Terra Land Brokers .. 828-776-0779 Asheville NC, What's Most Important to YOU? Call(828)-776-0779 ( REAL ESTATE RESOURCES & NETWORK ) over 11 years ago

Great post!  I learned recently that PNC Bank, based out of Pittsburgh, PA, has been building "green branches" for the past 10 years.  I think they have at least 42 branches that are built green. Here is an interesting article about that:  http://www.pennlive.com/business/patriotnews/index.ssf?/base/business/1216391109272941.xml&coll=1&thispage=1

The Hershey company (yes, chocolates!) is also going green with their multi-million $ renovation of their resort and hotel, according to the article linked above.  Now that they piqued my interest, I'm going to have to look into that a bit more to see what they plan on doing exactly as far as a green hotel & resort.

Posted by Jeannie Kontis over 11 years ago

Thanks for giving us another angle from which to see the benefit of "green"  -- a new perspective on things is always a good one.

Posted by Rhodes Waite over 11 years ago

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