CHICAGO, IL, and ATLANTA, GA — A growing number of corporate real estate executives say they are willing to pay more to lease green office space and that they consider sustainability issues when making decisions about locations, according to recently released research from CoreNet Global and Jones Lang LaSalle.
CoreNet Global, an organization for corporate real estate professionals, and commercial real estate services firm Jones Lang LaSalle made the results of their fourth annual Sustainability Survey available yesterday.
Conducted last November, the survey gauges attitudes and trends on sustainability and owned and leased corporate facilities.
Half the respondents now say they are willing to pay more to lease green office space in contrast to 37 percent who said the same in 2009, and 23 percent said they would pay more rent if some of it were offset by lower energy costs.
What’s the tolerance level for premiums on green workspace? Forty-eight percent said they would pay as much as 10 percent more for sustainable space, and 2 percent said they would expect to pay more than that.
Just how important is sustainability to the execs who oversee corporate real estate portfolios? Sixty-four percent said it’s a critical business issue and 92 percent said they consider it when making decisions about locations.
Also, while energy costs continue to be an important sustainability metric, fewer than a third of respondents now say it is their top consideration. Thirty-two percent identified energy costs as their No. 1 concern, compared to 37 percent in 2009. In the meantime, concern for employee health and productivity edged upward with 31 percent saying the factors are an important measure of success; 29 percent deemed them so in 2009. Eleven percent said they now consider employee satisfaction the most important consideration.
“The Sustainability Survey results reflect an evolution that we’re seeing in the industry,” said Dan Probst, chairman of Energy and Sustainability Services at Jones Lang LaSalle, in a statement.