Dallas-based Archon Group is also succeeding in its pursuit to develop environmentally conscious retail centers. Just last week, the company received a gold-level LEED certification for its 243-acre Fairlane Green in Allen Park, MI. Because it's the first multi-tenant retail project with LEED certification in the country, the project is a milestone for the company.

In addition to reflective roofing and high-efficiency energy systems, environmental features include site irrigation from storm water detention ponds; green/permeable parking spaces; approximately 40% green space allocation throughout the development; and wetland-type retention ponds to create a natural habitat for wildlife and to manage storm water runoff.

The company has also accomplished other developments with sustainability in mind. At Poplar Creek Crossing in Hoffman Estates, IL, a 400,000-sf, Target-anchored power center, an extensive drainage system was put in place as a protection for above-standard on-site landscaping and trees. At Chatham Market, a 420,000-sf power center currently being constructed on the site of a former steel plant on Chicago's South Side, all buildings 10,000 sf or greater will have green roofs on 50% of the surface areas, providing insulation, water cleansing and oxygen creation.

Lance Taylor, development manager with Archon, says that there is more to gain from environmentally friendly designs than just sustaining the planet's ecosystem. Communities that initially stand firm against big-box retailers, fearing they will swallow the smaller retailers, suddenly turn soft when they see that kind of environmental consciousness.

"Big-box developers have a nasty reputation for slapping up four walls and a parking lot," Taylor tells GlobeSt.com. "This is a way to make small steps to be environmentally friendly. We're never going to be a small neighborhood developer, so we're looking at LEED friendly techniques that make it easier to have a project in title and to get permits with an open-book approach."

With the greening trend starting to set in, tenants too are increasingly pitching in, adds Curt Bailey, director of retail investments for Archon's Midwest office. "We're seeing a number of national retailers not only tailoring inventory mix and physical presentations to local markets, but also incorporating ecological elements into new locations."

While retailers and developers admit that in a long-term investment, the upfront costs of eco-design will eventually turn to a cost savings, the trend is still slow to catch on. But that may not be the case for much longer, says Forest City's Ratner. "The volatility of the energy markets are forcing landlords to look at these issues," he tells GlobeSt.com. "If it has an end result of long-term conservation of resources, it could be one glimmer of hope coming out of the situation. It's just nice to see an attention on these types of issues."