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It's Not Easy Leasing Green

Multiple tenants and standards professionals block a single standard.

By Debra Hazel | Updated on September 25, 2009

NEW YORK CITY-Defining a ‘green’ lease may be almost as complicated as writing one, noted speakers at the Urban GREEN Expo 2009, which ended here on Wednesday. A number of associations have tried to provide guidelines on greening properties, but various factors are blocking the creation of one standard.

“There are a growing, and already quite large number of initiatives that call themselves green leasing guides,” not all of them effective, said Candace Damon, a partner at HR&A Advisors, New York City. “Some focus on pre-leasing, some on equipment, others on the lease itself. In the absence of a comprehensive statement of what green leasing is, we miss opportunities.”

Regional differences play a role, Damon noted. New York State’s office market is largely concentrated in New York City, and dominated by class A facilities. California has more than a dozen office markets, many of which have class B and even class C space.

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