LaSalle Receives Green Lease Leader Recognition at 2018 BOMA International Conference
CHICAGO (June 26, 2018) — LaSalle Investment Management (“LaSalle”) was named a Green Lease Leader at the BOMA International Conference in San Antonio, Texas, an annual event that brings together thousands of commercial real estate professionals and building innovators to share the latest industry trends and operational best practices. LaSalle is proud to be among those to receive this designation in 2018, in recognition for its high-performance leasing practices that drive shared energy savings and sustainability benefits in buildings.
Established five years ago by the Institute for Market Transformation (IMT) and the U.S. Department of Energy’s Better Buildings Alliance, Green Lease Leaders helps identify leading-edge companies and real estate practitioners who break down barriers to high-performance buildings by revolutionizing the lease to incorporate energy efficiency and sustainability.This year, Green Lease Leaders represented portfolios totaled more than 717 million square feet (sq. ft.), bringing the cumulative floor area of all Green Lease Leaders to over 1.8 billion sq. ft. LaSalle was recognized for implementing green leasing language and processes across its portfolio of managed assets.
Kristy Heuberger, Head of U.S. Asset Management at LaSalle, stated: “LaSalle was an early adopter of best practices in sustainability, and we have continued to evolve our standards across the board as new products and programs have become available. We recognize that sustainability is a key driver of real estate decision-making among our corporate tenants, and we’re invested in advancing those strategies to promote cost savings and reduce carbon emissions portfolio-wide.”
Eric Duchon, Global Head of Sustainability at LaSalle, commented: “Energy efficiency is no longer an option, it’s a mandate. At LaSalle, our teams have worked diligently to integrate sustainable practices into the very fabric of our corporate identity. We remain committed to implementing ESG best practices, and we’re thrilled to see results of that hard work as our offices, teams and assets continue to receive recognition for excellence in this arena.”
Green leasing, also known as “energy-aligned” or “high-performance” leasing, is a powerful and growing real estate trend that provides a win-win framework for landlords and tenants to invest in and benefit from energy efficiency and sustainability improvements—standard leases have historically been a roadblock to greater investment and action on efficiency. A green lease agreement guarantees that environmental measures are taken by landlords and tenants, and it acts as both a catalyst and safeguard for achieving goals and savings for both parties. Green leasing has also been shown to unlock efficiency improvements that help lower operating expenses, increase return on investment, and lead to more healthy and efficient spaces that are attractive to employees and customers, among other benefits. An IMT study has shown that green leases have the potential to reduce utility bills by up to $0.51 per square foot (11-22 percent) in office buildings alone, and, if all leased office buildings executed green leases, the U.S. office market alone could save over $3 billion in annual cost savings.
“With leased space representing more than half of the commercial building energy usage in the U.S., DOE and IMT are working side-by-side with real estate industry leaders on ways to bring building energy efficiency and affordability in leased spaces forward,” said Kathleen Hogan, Deputy Assistant Secretary for Energy Efficiency at DOE. “This year’s Green Lease Leaders demonstrate that by using mutually beneficial lease language to collaboratively address building performance, landlords and tenants are achieving higher energy savings and improving tenant satisfaction.”
“As building owners, developers, tenant companies, and other real estate decision makers strive to keep up with evolving financial and environmental pressures, leading-edge firms are using the lease as a powerful instrument to create higher-performing buildings that not only save energy and money but also provide healthier work environments,” said Cliff Majersik, Executive Director for IMT. “IMT and DOE’s Green Lease Leaders program has made a significant market impact over the past five years by raising the bar for green lease agreements and putting a spotlight on the growing number of innovative companies that use their leases to achieve ambitious energy, sustainability, and business goals. We are thrilled to recognize this year’s impressive leaders who are pushing the envelope on building performance and energy-aligned leasing.”
Several enhancements were made to the Green Lease Leaders program this year, including revised green leasing criteria that aligns with the U.S. Environmental Protection Agency’s (EPA) Energy Star for Tenants, Gold and Silver recognition levels, a newly designed website that includes an online lease assessment tool, and brand new resources including reference guides with sample green lease language and templates. Notably, LaSalle was recently recognized by the US EPA as an Energy Star Charter Tenant.
For more information on the Green Lease Leaders program and this year’s recipients, visit greenleaseleaders.com, and to learn more about the benefits of green leases and landlord-tenant collaboration on efficiency, visit the Green Lease Library at greenleaselibrary.com.
About LaSalle Investment Management
LaSalle Investment Management is one of the world's leading real estate investment managers. On a global basis, LaSalle manages approximately $65 billion of assets in private and public real estate property and debt investments as of Q1 2020. LaSalle's diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. LaSalle sponsors a complete range of investment vehicles including separate accounts, open- and closed-end funds, public securities and entity-level investments. For more information please visit http://www.lasalle.com, and LinkedIn.
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