Is Your Building Certified Yet?

While green used to just be about Birkenstocks, Shrek, and tree huggers, it's turned into a viable business, especially in commercial real estate. "We're now accustomed to certifications, ratings, and labeling," from Zagat to food nutrition facts, according to Siemens Building Technologies' Ari Kobb (second from right). Ari joined Colliers' Rob Brierley, YREG's Jenny Carney, and JLL's Ben Bischmann to help attendees navigate the costs, flexibility, perks, and peskiness of the different certifications, including LEED-EB, Energy Star, BOMA 360, and Green Globes. (It's harder than trying to figure out all the different championship belts in boxing.) It's even more important given that the list of local governments requiring energy benchmarking and disclosure is only going to grow, they say.

Why certify? There are plenty of reasons, urge the panelists: for one, your building will benefit from upticks in leasing rates, tenant retention, and operating costs savings. It also shows you're a market leader, gives you competitive differentiation, gives proof of your performance and that you're a steward to the community, and increases both occupant health and productivity. Rob cited a Kingsley study, which shows that 94% of tenants in BOMA 360-certified buildings report higher overall satisfaction in all 54 quantitative rating areas (including property management, leasing, maintenance, security, and property features) versus non-BOMA 360 buildings.