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Greener Pastures for Commercial Real Estate
Concerns have been building about weakness in commercial real estate, but Matthew J. Kotchen of Yale University notes new research that points to a potential bright spot in the sector.
Good news about commercial real estate is in short supply these days, so it may be surprising to hear that going “green” can earn some “green.”
New research shows that green-certified buildings command substantially higher rents and selling prices. Economists Piet Eichholtz, Nils Kok, and John Quigley estimate just how much in a forthcoming paper in the American Economic Review. They consider the federal government’s Energy Star certification and the U.S. Green Building Council’s LEED certification.
Source: http://blogs.wsj.com/environmentalcapital/2009/12/16/greener-pastures-for-commercial-real-estate/
