National study details increased environmental awareness and investment

A new national survey of the commercial real estate sector reveals that nearly two-thirds of respondents have allocated funds to green initiatives, while the majority said that their sustainability investment will increase in 2008. Findings of the study by the Building Owners and Managers Association (BOMA) International, ALM's Real Estate Media Division, and the U.S. Green Building Council (USGBC) were released at Greenbuild 2007, the annual conference and expo sponsored by the USGBC. Other findings included the following: * Green buildings boast occupancy rates between 75% and 100% for a majority of those responding. For 21% of respondents, the increase is due directly to green initiatives. * 60.8% of responding executives claimed a return on their green investment. * Respondents were almost evenly split on whether local municipalities should mandate energy efficiency in buildings. Many felt that any mandate should be offset by incentives or apply only to new construction. * Maintaining a green building is not typically more expensive than a comparable non-green building asset The survey focused on the application of green methodologies and technologies in existing commercial buildings, and on the financial and marketing benefits of these efforts. It was distributed to REM's national database of ownership, investment and operational entities, as well as to BOMA's national membership. To obtain a copy of the complete survey and results, visit www.globest.com/green.For additional information, contact Josh Simon at (212) 929-7044 or [email protected]. BOMA International is an international federation of more than 90 local associations and affiliated organizations. BOMA's 16,500 members own or manage more than 9 billion s/f of commercial properties in North America and throughout the world. The mission of BOMA International is to enhance the human, intellectual and physical assets of the commercial real estate industry through advocacy, education, research, standards and information. Founded in 1907, BOMA International celebrates 100 years of commercial real estate this year. USGBC is a non-profit composed of leaders from every sector of the building industry working to promote buildings that are environmentally responsible, profitable and healthy places to live and work. Its more than 11,000 member organizations and the network of 75regional chapters are united to advance our mission of transforming the building industry to sustainability.