2 THE BROKER’S ROLE IN SUSTAINABLE COMMERCIAL PROPERTY
2 THE BROKER’S ROLE IN SUSTAINABLE COMMERCIAL PROPERTY
Slide header copyIn This Chapter
> Filtering for most reliable sources of information
> Providing relevant market details> Knowing issues specific to site> Counseling on benefit and risk of
sustainability cost
1-12-1
Slide header copyIn This Chapter (cont.)
2-2
> Facilitating green leasing> Analyzing client’s needs> Educating clients re ongoing
nature of sustainability
Slide header copyFiltering for Reliable Information
1-12-3
> Tasks of real estate professionals include: Educating clients on reliable
information sources Taking objective stance to
sustainability/green claims
Slide header copyQuestions to Ask
2-4
> “Certified” sustainable/green building or space or product Certified by whom? Rating/standard/certification
developed by independent, open process?
> High-efficiency product/feature Independent research showing it
delivers efficiency that it claims?
Slide header copyMarket Details
1-12-5
> Green tenants, green buildings/features, and estimated absorption
> Aspects of green philosophy that are represented in your area
> Perceived value of sustainability in the community
Slide header copySources of Market Information
2-6
> LoopNet> CoStar MLS> USGBC Web site> Local companies that support
sustainability education> Other sectors in the market that
promote sustainability
Slide header copyIssues Specific to the Site
1-12-7
> Local climate influences> Availability of density bonuses> The local regulatory environment
Federal, state, and municipal government regulations, (codes), mandates, land use regulations, environmental inspection, and other requirements
Slide header copyLocal Incentives
2-8
> Greater density allowance> Lowering of impact fees> Fast track and streamlined permitting> Reduced lot size and parking
requirements> Cost avoidance of transportation fees,
water and electric> Tax increment financing (TIF)
Slide header copyGreen Leasing
1-12-9
> A “green lease” addresses sustainability through: Rent structure Provisions on tenant improvements Statements of green principles and
policies of environmental management> Rent structure impacts motivation for
reducing energy and resource cost
Slide header copyNegotiating Green Leasing
2-10
> Tenant: Short term: may be looking for finished
commercial interior, with evidence of lowered CAM costs/ lowered submetered utilities if net lease
Long term: may be reviewing TI budgets for commercial interior retrofit/lowered utility costs
Slide header copyNegotiating Green Leasing (cont.)
1-12-11
> Property manager/landlord: May not prioritize retrofit with net
leases or modified gross lease with expense stop
May seek to amortize capital cost to tenants
Slide header copyGreen Leasing Provisions
2-12
> Building certifications/ratings objectives
> Alternative transportation provisions
> Water use/fixture provisions
> Lighting controls provisions
> Building commissioning provisions
> Energy optimization plans
> Maintenance and staff training provision
Slide header copyIntegrated Design Teams
1-12-13
> Developers> Architects> Contractors> Landscape architects> Structural engineers> Mechanical engineers
> Electrical engineers> Acoustical designers> Lighting designers> Property managers> Maintenance engineers> Other real estate
professionals
Slide header copyTeam Building for Planning Green Projects
2-14
> Architect> Engineer> Commissioning agent (CxA)> LEED certification facilitator (if
certification is client’s goal)> Energy auditor/energy modeling
specialist
Slide header copyClient Types
1-12-15
> Owner-investor> Owner-user> Speculative developer> Tenant> Property manager> Public sector> Institutional
Slide header copyEstablishing Trust
2-16
> Real estate professional builds trust by: Commitment to continuing education
on sustainability Approach that matches clients’ needs
to best market opportunities Objectivity in discussing costs and
benefits
Slide header copyThe Counseling Session
1-12-17
> Steps include: Determining client’s priorities and
preferences Discovering cost threshold Identifying location preferences Helping analyze green features Discussing commissioning Identifying impact to O&M Employee/tenant education
Slide header copyExercise: Working with Clients
2-18
> Read situation and list types of information you would need to work with client to arrive at best decision.