Office properties with LEED certifications are commanding higher prices than their non-certified counterparts, according to new research from Cushman & Wakefield.
Class A LEED-certified office buildings are nabbing prices per square foot that are more than 25% higher than non-certified properties.
And "intriguingly, while trophy high-rise product in major urban centers has often been the face of sustainable assets, LEED-certified suburban assets actually outperformed their urban counterparts," says David Bitner, Global Head of Capital Markets Research at Cushman & Wakefield. LEED-certified Class A suburban office are grabbing premiums that are 40% higher over non-certified assets. Gateway markets averaged a slightly higher premium at 29% vs. secondary markets at 27%.
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