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A year
of work by a group of savvy, commercial real estate
professionals has resulted in the Model Green Lease. This new
lease document brings the green building movement to the
economic center of commercial real estate – the lease agreement
between the landlord and tenant.
The Model Green Lease was crafted by a task force of attorneys,
real estate brokers, corporate tenants, landlords, and green
building consultants from both sides of the negotiating table.
Collectively, they have negotiated thousands of office building
leases.
The task force chair is B. Alan Whitson, RPA, president of the
Corporate Realty, Design & Management Institute. Whitson
launched the Model Green Lease project, having grown frustrated
by the industry’s lack of progress in overcoming the biggest
financial obstacle to green buildings – the so-called
“split-incentive.”
The task force started with a blank sheet of paper and a single
goal: Create a lease document that encourages green office
buildings, maximizes the return on investment for green
buildings, and provides a healthy and productive workplace. It’s
unbiased - written to balance the financial and operational
needs of landlords, tenants, lenders and investors.
Besides covering IAQ, energy use, carbon credits, water
consumption, recycling, green cleaning specifications,
insurance, commissioning, operating costs, tenant improvements,
and building regulations, the Model Green Lease includes a
requirement for an annual Environmental Performance Report. It’s
consistent with ASHRAE, Energy Star, Green Globes, and LEED. You
can use it to lease any new or existing building, or complete a
lease on an office building that for various reasons may not be
seeking certification. |
