We have another resource that we are excited to share with you this month, coming from one of our close colleagues in the sustainability space, Larry Simpson, Executive Vice President of Sustainability Roundtable, Inc. (SR Inc.). SR Inc. has recently taken great strides in addressing the need to evolve “green leasing” tools from infancy to maturity to achieve greater sustainability.
During their recent webinar, SR Inc. presented research, case studies, and introduced a newly developed “green leasing” toolkit. The presentation detailed a more sustainable leasing strategy with seven fundamental preferences in decision making: develop a portfolio-wide optimization strategy; integrate alternative workplace strategies; seek space in transportation adjacent existing buildings; weigh renewal options; weigh long-term lease options; seek buildings with a third-party certified commitment to sustainability; and, collaborate with landlords and tenants to advance greater sustainability.
As for the toolkit components themselves (under draft), they have been designed to be used in the final phase of sustainable corporate real estate selection – the green lease itself. The toolkit includes three main elements: The Site Selection Tool outlines the steps to select a landlord with a commitment to sustainability and a site that has already achieved LEED, ENERGY STAR certification, or a willingness to achieve sustainability certification. The Request for Proposal Tool identifies tenant requirements for sustainability practices and distinguishes which green terms may be structured into the lease documents. The Letter of Intent Tool highlights a tenant’s key green or sustainable lease issues and includes which green terms may be structured into the final lease document.
These tools were introduced in draft form pending SR Inc. Member-Client input and also offer sample lease language ranging anywhere from green building certifications to special remedies for violation of green lease provisions. Overall, the toolkit emphasizes that a successful green lease is the result of a comprehensive negotiation process, in which sustainability practices are deliberately embedded in each phase of the lease lifecycle.
If you would like to download the program presentation and an Executive Summary of “More Sustainable Leased Space” visit www.sustainround.com.