Record-Breaking Year for Green Leasing in Commercial Buildings
May 18, 2022
Winners of the 2022 Green Lease Leaders program, organized by IMT and the U.S. Department of Energy’s Better Buildings Alliance, show a path forward on cost savings, social and climate action, and closer landlord-tenant relationships.
FOR IMMEDIATE RELEASE
Contact: Alexandra Laney, Institute for Market Transformation, (530) 645-2539; firstname.lastname@example.org
Washington, D.C. (May 18, 2022) – Today, the Institute for Market Transformation (IMT) and the U.S. Department of Energy’s (DOE) Better Buildings Alliance announced the 2022 Green Lease Leaders at the Better Buildings, Better Plants Summit, a leadership symposium. Launched by IMT and the DOE Better Buildings Alliance in 2014, Green Lease Leaders sets the industry standard for what constitutes a green lease. Each year, the program recognizes U.S. and international landlords and tenants who modernize their leases to spur collaboration on energy efficiency, decarbonization, cost savings, health, and a range of other environmental and social issues.
This year the program expanded by 23%, a new record, and it released a new Platinum tier that recognizes companies for integrating high performance leasing and social equity practices into building operations. There are nine companies in the inaugural Platinum cohort.
This year’s Green Lease Leaders represent portfolios totaling nearly two billion square feet (sq. ft.) and comprise a diverse range of buildings from large and small commercial offices to data centers and industrial and multifamily buildings. The cumulative floor area of all Green Lease Leaders is now five billion sq. ft. of building space.
“Congratulations to this year’s Green Lease Leaders,” said Maria T. Vargas, Senior Program Advisor at DOE and Director of the Better Buildings Initiative. “These leading organizations are driving lasting change in U.S. buildings by creating mutually beneficial agreements between landlords and tenants to pursue emissions reduction targets.”
“Green leases are a common sense, proven solution to create high-performing buildings and improve our communities,” said Lotte Schlegel, Executive Director at IMT. “We have seen that they not only reduce energy use, but also promote strong relationships between landlords and tenants. This was invaluable during the pandemic, and we see tremendous opportunity to build on these relationships to improve social as well as environmental outcomes.”
IMT estimates that green leases can help reduce utility bills by up approximately 50 cents per square foot (22 percent) in U.S. office buildings alone. If all leased office buildings executed green leases, the market could reap over $3 billion in annual cost savings.
The 2022 Green Lease Leaders
Platinum Recognition – Landlord
- Boston Properties
- Brandywine Realty Trust
- Columbia Property Trust
- Digital Realty
- Dream Office REIT
- Empire State Realty Trust
- GID Real Estate Investments
- Physicians Realty Trust
Platinum Recognition – Tenant
- TD Bank Group
Gold Recognition – Landlord
- Acadia Realty Trust
- Dream Industrial REIT
- FIBRA Macquarie Mexico
- First Capital REIT
- GLP Capital Partners LP
- Intercontinental Real Estate Corporation
- Kite Realty Group
- LBA Realty
- Office Properties Income Trust (OPI)
- Phillips Edison & Co
- Regency Centers
- Retail Opportunity Investments Corp. (ROIC)
- Rexford Industrial Realty
- Sabey Data Centers
- Site Centers
- TA Realty
- W.P. Carey
Gold Recognition – Tenant
Silver Recognition – Landlord
- ASB Real Estate Investments
- Eagle Property Capital
- Easterly Government Properties
- EQT Exeter
- FIBRA MTY
- Highwoods Properties Inc.
- Hudson Pacific Properties
- INDUS Realty Trust, Inc.
- InvenTrust Properties
- MAN Holdings LLC
- Metropolis Investment Holdings, Inc.
- Paramount Group
- Piedmont Office Realty Trust, Inc.
- Spirit Realty Capital
- Taza Development Corp
- Tishman Speyer
- Triovest Realty Advisors Inc.
Silver Recognition – Tenant
- U.S. General Services Administration (GSA)
Team Transaction Recognition
- TD Bank Group, Canderel Commercial Property Management, LaSalle Investment Management
- Tishman Speyer, JLL, and HSBC
- Kilroy Realty Corporation, JP Morgan Chase, and Allen Matkins
Learn more about Green Lease Leaders
- Visit GreenLeaseLeaders.com
- Assess your leasing process
- Download the free Green Lease Leaders Reference Guides
- Visit GreenLeaseLibrary.com for a comprehensive collection of green lease resources
- Read the Green Lease Leaders series of case studies
About the Institute for Market Transformation
The Institute for Market Transformation (IMT) is a national 501(c)(3) nonprofit that aims to decarbonize buildings by catalyzing widespread and sustained demand for high-performance buildings. Founded in 1996 and based in Washington, D.C., IMT leverages its expertise in the intersection of real estate and public policy to make buildings more productive, affordable, valuable, and resilient.
About the Better Buildings Alliance
The Better Buildings Alliance is a U.S. Department of Energy (DOE) effort to promote energy efficiency in U.S. commercial buildings through collaboration with building owners, operators, and managers. Members of the Better Buildings Alliance commit to addressing energy efficiency needs in their buildings by setting energy savings goals, developing innovative energy efficiency resources, and adopting advanced cost-effective technologies and market practices.