2 THE BROKER’S ROLE IN SUSTAINABLE COMMERCIAL PROPERTY.

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Presentation transcript:

2 THE BROKER’S ROLE IN SUSTAINABLE COMMERCIAL PROPERTY

Slide header copy In 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

Slide header copy In This Chapter (cont.) 2-2 >Facilitating green leasing >Analyzing client’s needs >Educating clients re ongoing nature of sustainability

Slide header copy Filtering for Reliable Information >Tasks of real estate professionals include:  Educating clients on reliable information sources  Taking objective stance to sustainability/green claims

Slide header copy Questions 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 copy Market Details >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 copy Sources 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 copy Issues Specific to the Site >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 copy Local 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 copy Green Leasing >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 copy Negotiating 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 copy Negotiating Green Leasing (cont.) >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 copy Green 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 copy Integrated Design Teams >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 copy Team 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 copy Client Types >Owner-investor >Owner-user >Speculative developer >Tenant >Property manager >Public sector >Institutional

Slide header copy Establishing 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 copy The Counseling Session >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 copy Exercise: Working with Clients 2-18 >Read situation and list types of information you would need to work with client to arrive at best decision.