13 July 2009

The lease you can do

Here's a detailed blog post on green leases in commercial real estate. I especially like how this essay combines practical info with a realistic mindset -- for example, giving examples of green tech gone wrong and stressing the importance of keeping on schedule and in budget -- while also pushing the most strict levels of certification, based on LEED standards and the 2008 BOMA Guide.
Green building is generally more costly and timely than the standard construction process. Landlords and tenants must realize this when determining the tenant improvement allowances detailed in the lease. Although having a green space is obviously an important issue, having a finished space ready in the necessary time period is generally a far more important issue. It is thus important for both parties to discuss these potential timing and cost issues with construction and design professionals that have green building experience that can provide advice in regard to both of these concerns.

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