GlobeSt.com: How much of your portfolio isgreen?

Schwartz: If you define green as being moreenergy-efficient, as reducing greenhouse gas emissions beyond whatis normal, I would argue that 100% of our development wouldclassify as sustainable. In every country where we develop--all22--we build to a higher standard than the average building in thatmarket, and with that comes significantly higher energy efficiency.An airtight building with less leakage of heating or airconditioning is an easy way to save massive amounts of energy and,of course, greenhouse gas emissions. It's a little more expensiveto build a higher-quality building, but we are building a long-termsustainability business on a global platform. That has to startwith a more sustainable footprint, even before you get to the otherthings that people think are a lot sexier and more exotic--solarpanels or wind turbines---all of which we do.

GlobeSt.com: Is it more problematic to build green inwarehouse/distribution than in other property classes?

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John Salustri

John Salustri has covered the commercial real estate industry for nearly 25 years. He was the founding editor of GlobeSt.com, and is a four-time recipient of the Excellence in Journalism award from the National Association of Real Estate Editors.