Green Leasing
Cisco paves the way for more efficiency in leased commercial buildings
Corporate Real Estate Innovation
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Green leases for building owners: The Building Owners and Managers Association (BOMA) has updated its Guide to Writing a Commercial Real Estate Lease to include legal language that can help building owners implement sustainable building practices.
2009 INNOVATIONS REVIEW
Companies find that environmental sustainability helps reduce costs and gain advantages.
As most corporate space in the U.S. is leased, companies rely on the participation of building owners to help them achieve sustainability goals. Yet most leases create barriers that stand in the way of efficiency improvements that could save money for both builder owners and tenants and decrease energy and water use.
Cisco, however, is on the leading edge of a new trend known as green leasing. Last year, the company introduced a unique green leasing program for its operations in the U.S. and Canada. It developed a new standard lease and related forms, and is training its real estate staff to use them.
But this isn't just about a one-size-fits-all lease document. The key to success, according to Cisco real estate experts, is a process through which they identify sustainability goals from the very start of building selection and lease negotiation.
"Our aim is to integrate sustainability in a holistic way throughout the leasing process, starting with site selection and continuing through the RFP, LOI and lease agreement," explains Suzanne Cooper, Cisco's real estate manager for the U.S. and Canada.
Posted: 08-Apr-2009; Updated: 22-Apr-2009
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