CHICAGO (November 7, 2007) – A new national survey of the commercial real estate sector reveals that nearly two-thirds of respondents have allocated funds to green initiatives, while the majority said that their sustainability investment will increase in 2008. Findings of the study by the Building Owners and Managers Association (BOMA) International, ALM’s Real Estate Media Division, and the US Green Building Council were released today at Greenbuild 2007, the annual conference and expo sponsored by the USGBC. Complete reporting on the survey will appear in the November issue of Real Estate Forum magazine, online at GlobeSt.com (www.globest.com) and in the January/February issue of The BOMA Magazine.
Other findings included the following:
- Green buildings boast occupancy rates between 75% and 100% for a majority of those responding. For 21% of respondents, the increase is due directly to green initiatives.
- 60.8% of responding executives claimed a return on their green investment.
- Respondents were almost evenly split on whether local municipalities should mandate energy efficiency in buildings. Many felt that any mandate should be offset by incentives or apply only to new construction.
- Maintaining a green building is not typically more expensive than a comparable non-green building asset
The survey focused on the application of green methodologies and technologies in existing commercial buildings, and on the financial and marketing benefits of these efforts. It was distributed to REM's national database of ownership, investment and operational entities, as well as to BOMA's national membership.
To obtain a copy of the complete survey and results, visit www.globest.com/green. For additional information, contact Josh Simon at (212) 929-7044 or jsimon@remedianetwork.com.
About BOMA International
The Building Owners and Managers Association (BOMA) International is an international federation of more than 90 local associations and affiliated organizations. BOMA’s 16,500-plus members own or manage more than 9 billion square feet of commercial properties in North America and throughout the world. The mission of BOMA International is to enhance the human, intellectual and physical assets of the commercial real estate industry through advocacy, education, research, standards and information. Founded in 1907, BOMA International celebrates 100 years of commercial real estate in 2007. Learn more at www.boma.org.
About USGBC
The U.S. Green Building Council (USGBC) is a non-profit composed of leaders from every sector of the building industry working to promote buildings that are environmentally responsible, profitable and healthy places to live and work. Its more than 11,000 member organizations and the network of 75 regional chapters are united to advance our mission of transforming the building industry to sustainability.
About Real Estate Media
ALM’s Real Estate Media Division is a leading provider of intelligence for the commercial real estate industry, in print, in person and online. The division publishes Real Estate Forum; GlobeSt.com, the industry's leading daily news Web site; and the regional magazines Real Estate New Jersey, Real Estate New York; Real Estate Southern California; and the recently launched Real Estate Florida. Its seven targeted e-newsletters focus on various aspects of commercial real estate. The division’s GlobeSt.Retail Web site provides up-to-the-minute coverage of breaking industry news for retail brokers, developers, lenders, managers, real estate lawyers, corporate executives and financiers. REM also produces the RealShare conferences, a series of more than 25 regional events targeted to commercial real estate professionals.
About ALM
ALM is a leading integrated media company, focused on the legal and business communities. ALM currently owns and publishes 33 national and regional magazines and newspapers, including The American Lawyer, Corporate Counsel, The National Law Journal and Real Estate Forum. The company is one of North America's largest producers of conferences and trade shows for business leaders and the legal profession. ALM's Law.com is the Web's leading legal news and information network, while ALM's GlobeSt.com is the Web's leading information source for commercial real estate professionals. Other ALM businesses include book and newsletter publishing, court verdict and settlement reporting, production of professional educational seminars, market research and content distribution. For more information, visit www.alm.com. ALM is an Incisive Media company.
About Incisive Media
Incisive Media is a rapidly growing provider of specialist business information, in print, in person and online. Incisive Media operates in four principal markets: financial services, risk management, professional services and marketing services. Incisive Media's market leading brands include Investment Week, Post Magazine, Risk, Search Engine Strategies, Accountancy Age, Professional Pensions, Computing and Legal Week. For more information, visit www.incisivemedia.com.
ALM, Real Estate Forum, GlobeSt.com, The American Lawyer, Corporate Counsel, The National Law Journal, Law.com and all other ALM publication and product names are either registered trademarks or trademarks of ALM Properties, Inc.
CONTACT:
Laura Horsley
Director of Communications
BOMA International
(202) 326-6315 or lhorsley@boma.org
Lee Feldman
Peters & Feldman for ALM
(203) 341-8922 or lfeldman@alm.com