A half-day educational program – The Model Green Lease Seminar - will be presented by Corporate Realty, Design & Management Institute and the Chicago Chapter of the U.S. Green Building Council on Thursday, April 23, 2009 from 8:30 am to noon at the Appraisal Institute, 205 W. Wacker Drive. Registration information is available at www.squarefootage.net
Recent research shows that some green office buildings are performing significantly below industry norms. That’s a major issue for real estate investors seeking a return on their investment in green buildings. It’s also a big worry for tenants since a lease is a long term commitment, and typically represents a company’s largest single contractual obligation. Addressing these concerns was the spark behind the Model Green Lease Project. The procedures and metrics included in the Model Green Lease can cut energy consumption 25 to 50 percent below the average office building, yet are easy to do and make economic sense.
A unique seminar feature is the Expert Panel - Mock Green Lease Negotiation. This gives the audience a chance to see some of Chicago’s top professionals navigate the green leasing minefield, and overcome road blocks and deal-killers. This lively interactive session is ideal for getting individual questions answered.
The program is open to everyone involved in greening commercial real estate. Attendees can earn educational credits from: AIA, BOMI, IFMA, IIDA, and USGBC.
“Some people think you can green a lease by adding some language to require green products and construction practices. While this may give a lease a green tint it’s not enough to make a lease green,” says Alan Whitson RPA, President of Corporate Realty, Design & Management Institute and head of the Model Green Lease Project. “To create a truly green lease, requires rethinking the basic tenants of today’s office leases and overcoming the many myths surrounding how office buildings operate.”
Many things change during the term of a lease – building ownership changes, property management companies replaced, and tenants come and go. The Model Green Lease ensures a building continues to meet or exceed its intended performance goals. It defines the environmental standards and metrics the landlord will use to operate and maintain the building, and how the tenants will build out and operate their premises in a sustainable manner. The result is a building that is environmentally responsible, profitable, and provides a healthy and productive workplace.
The Model Green Lease has been crafted by a national task force of attorneys, commercial real estate brokers, corporate tenants, developers, real estate investors, tenant improvement contractors, building service providers, and green building consultants. Starting with a clean sheet of paper the task force had four goals: First, create a lease document that’s fair to both parties. Second, improve energy efficiency and environmental performance. Third, ensures tenants receive the full benefits of a high performance workplace over their lease term without sacrificing comfort or service. Fourth, maximize the return on investment for those investing in green buildings.
The seminar leader is B. Alan Whitson, RPA - one of the nation’s most popular speakers and authorities on high performance buildings. Whitson has over 40 million square feet of real estate experience in the roles of asset management, corporate facilities, real estate development and brokerage. He is has written over 80 articles on high performance buildings and commercial real estate. Whitson’s books and software packages include: 327 Questions to Ask Before You Sign a Lease, Building Operating Costs – Model Lease Addendum, Smart Moves Manual and Software, and Bottom Line – Comparative Lease Analysis Software.
Contact: Laura Rossi,
Corporate Realty, Design & Management Institute
U.S. Green Building Council - Chicago Chapter