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PHX Ranks 18th on Green Building Index

Source: CBRE Group, Inc.

Source: Real Estate Daily News

With 31.4 percent of its office space considered “green”, Phoenix ranked 18 out of 30 markets on the National Green Building Adoption Index 2015, a joint project of CBRE Group, Inc. and Maastricht University.

Despite scoring in the bottom half of most green building categories, metropolitan Phoenix showed improvement in several areas and moved up three positions to 18th overall. The total percentage of green square footage increased to 31.4 percent, a significant gain from last year’s 28 percent. The market increased in both ENERGY STAR labels and the percentage of square footage holding LEED certification, which increased to 14.4 percent from last year’s 12.1 percent.

According to local experts, it is too early to tell if green buildings are becoming a significant trend in the marketplace. However, many of the newly constructed office buildings and those currently under construction are or will be LEED certified. Certain tenants actively looking for space in the Valley prefer LEED-certified buildings because environmentally responsible business and real estate decisions are important to employees and overall company culture.

The Valley’s green building practices are not reserved for office properties either. For example, REI’s currently-under-construction, 400KSF distribution center in Goodyear is being designed with sustainability in mind. The building will be designed using LEED standards and the company aims to achieve a minimum of LEED Gold® certification.

The study also found that owners of small buildings have an opportunity to differentiate themselves by implementing energy-efficient practices, due to a significant gap between large and small office buildings in achieving sustainability certification.

Read more at Real Estate Daily News

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