Winners of the 2021 Green Lease Leaders program, organized by IMT and the U.S. Department of Energy Better Buildings Alliance, show a path forward on cost-savings, sustainability and closer landlord-tenant relationships.
FOR IMMEDIATE RELEASE
Washington, D.C. (May 17, 2021) – Today, the Institute for Market Transformation (IMT) and the U.S. Department of Energy’s (DOE) Better Buildings Alliance announced the 2021 Green Lease Leaders at the Better Buildings, Better Plants Summit, a virtual leadership symposium. Launched by IMT and the DOE Better Buildings Alliance in 2014, Green Lease Leaders sets an industry standard for what constitutes a green lease, while recognizing landlords and tenants who modernize their leases to spur collaborative action on energy efficiency, cost savings, improved air quality, and sustainability in buildings.
This year’s Green Lease Leaders represent portfolios totaling more than two billion square feet (sq. ft.) and comprise a diverse range of buildings from large and small commercial offices to industrial buildings to data centers. The cumulative floor area of all Green Lease Leaders is now more than four billion sq. ft. of building space.
“Green Lease Leaders are helping to set a new standard in the real estate industry. These organizations are demonstrating that landlords and tenants can both benefit from lower energy costs while improving building comfort,” said Maria T. Vargas, Senior Program Advisor at DOE and Director of the Better Buildings Initiative. “We appreciate their partnership and congratulate this year’s winners.”
“Green leases are a common sense, proven solution to create high-performing buildings and improve our communities,” said Lotte Schlegel, Executive Director at IMT. “These leases fix split incentives with agreements that save everyone money, improve indoor air quality, and lock in efficient, sustainable, and smart building operations. The leaders participating in this program are setting an important example of business practices that scale up building decarbonization while improving landlord-tenant relationships, business outcomes, and economic growth.”
IMT estimates that green leases can help reduce utility bills by up approximately 50 cents per square foot (22 percent) in U.S. office buildings alone. If all leased office buildings executed green leases, the market could reap over $3 billion in annual cost savings.
The 2021 Green Lease Leaders are:
Gold Recognition – Landlord
- AEW Capital Management
- Columbia Property Trust
- CommonWealth Partners
- Digital Realty
- Diversified Healthcare Trust
- Dream Office
- Empire State Realty Trust
- Federal Realty Investment Trust
- First Capital REIT
- GTIS Partners
- Iron Mountain Data Centers
- JBG Smith
- Kimco Realty Corporation
- Kite Realty Group
- Link Logistics Real Estate
- Retail Opportunities Investment Corp.
- RPT Realty
- Weingarten Realty
Gold Recognition – Tenant
- TD Bank Group
Silver Recognition – Landlord
- ASB Real Estate Investments
- FIBRA Macquarie Mexico
- Intercontinental Real Estate Corporation
- Morgan Stanley
- Parkway Properties Houston, LLC
- Rexford Industrial Realty, L.P.
- RioCan Real Estate Investment Trust
- Site Centers
- Tishman Speyer
Silver Recognition – Tenant
- Capgemini Real Estate
- Takeda Pharmaceutical Company Limited
Team Transaction Recognition
- Kilroy, Riot Games, and Allen Matkins
- TD Bank Group, AIMCo, and Ivanhoe Cambridge
- Cushman & Wakefield with Capgemini
- Prosper Capital and the City of Cincinnati
How to Receive Green Lease Leaders Recognition
To receive Green Lease Leaders recognition, organizations must meet two prerequisites and earn five or more credits for best practices such as utility data tracking and sharing, cost recovery for efficiency-related capital improvements, sustainability training, and energy efficiency fit-out requirements for tenant spaces, among others. The application period to be recognized in 2021 will open in the Fall and will close in March 2021. To receive one-on-one guidance for greening your lease or support for becoming a Green Lease Leader, contact IMT and DOE staff.
Commercial, industrial, and retail landlords and tenants, as well as transaction teams (a combination of landlord, tenants or brokers for a single real estate deal) are eligible for recognition. Designees must reapply once every three years to maintain their Green Lease Leader status.
Learn more about Green Lease Leaders
- Visit GreenLeaseLeaders.com
- Assess your leasing process
- Download the free Green Lease Leaders Reference Guides
- Visit GreenLeaseLibrary.com for a comprehensive collection of green lease resources.
- Read the Green Lease Leaders’ series of case studies.
ABOUT THE INSTITUTE FOR MARKET TRANSFORMATION:
The Institute for Market Transformation (IMT) is a national 501(c)(3) nonprofit that aims to decarbonize buildings by catalyzing widespread and sustained demand for high-performance buildings. Founded in 1996 and based in Washington, D.C., IMT leverages its expertise in the intersection of real estate and public policy to make buildings more productive, affordable, valuable, and resilient.
ABOUT THE BETTER BUILDINGS ALLIANCE:
The Better Buildings Alliance is a U.S. Department of Energy (DOE) effort to promote energy efficiency in U.S. commercial buildings through collaboration with building owners, operators, and managers. Members of the Better Buildings Alliance commit to addressing energy efficiency needs in their buildings by setting energy savings goals, developing innovative energy efficiency resources, and adopting advanced cost-effective technologies and market practices.