Zanetos: The benefits include increased occupancy and increased building values. Most tenants in today's office market will gravitate to a LEED-certified building versus a non-LEED-certified one, if all other factors are equal. In addition, the operating efficiencies over time will allow the landlord to achieve a higher net operating income, and this will increase the building's value.

GlobeSt.com: Has Los Angeles' rank been increasing?

Zanetos: Yes. Los Angeles has been at the forefront for many green initiatives, and it is growing. Los Angeles was one of the first major markets to have office buildings designated as LEED Platinum – both existing buildings and new buildings. Los Angeles is also seeing innovative approaches to merging green initiatives with health & wellness. For example, CBRE's headquarters office in downtown has both the LEED Platinum certification and Delos Wellness certification.

GlobeSt.com: How does the city compare with other major cities, globally and domestically?

Zanetos: The demand for buildings with green initiatives is ultimately driven by the end users. Generally speaking, the tenant base in Los Angeles has a preference for product that has minimal impact on the environment. In addition, the local regulations that have recently been passed with respect to the “Existing Buildings Energy and Water Efficiency Program” should fuel more landlords to implement green measures at their properties.