CRE Going Green
Commercial real estate has been slow moving towards going green. As the economic and financial benefits have become clearer, real estate developers are figuring out ways to build greener and convert their current buildings to be environmentally friendly. Clients and tenants are now seeking more eco-friendly buildings and requesting upgrades to buildings they are already in.
There are plenty of benefits to building/ converting to an eco-friendly building:
- The building costs less to maintain
- The building will use less energy and water
- The building will emit less carbon dioxide
- Satisfying occupants by
According to Ron Koenigsberg, President at American Investment Properties, operating commercial buildings, including office buildings, retail stores, manufacturing facilities and malls, is one of the main energy consumption sources. Taking steps like installing solar panels or windows and switching from old lighting to LED lighting can reduce energy use by upwards of 75%. Though potentially a financial burden when implementing these green changes, the reduction in money spent on energy and water bills, along with satisfying new and current clients will benefit owners in the long run.