Green Building Opportunity Index
Cushman & Wakefield, in collaboration with the Northwest Energy Efficiency Alliance's (NEEA) BetterBricks initiative
San Francisco again leads the 30 largest office markets for green opportunities, according to the 2011 Green Building Opportunity Index released by global real estate company Cushman & Wakefield, in collaboration with the Northwest Energy Efficiency Alliance's (NEEA) BetterBricks initiative.
The Green Building Opportunity Index remains the first office market assessment tool to provide weighted comparisons of top U.S. office markets on the basis of both real estate fundamentals and green development considerations. As in the inaugural 2010 version, the Index focuses on the primary factors that influence successful development, retrofitting, leasing and sales of investment grade green office buildings in the largest U.S. Central Business Districts (CBDs). It compares a market's relative position to its peers in six categories: Office Market Conditions, Investment Outlook, Green Adoption & Implementation, Local Mandates & Incentives, State Energy Initiatives and Green Culture. For 2011, the Index has been enhanced by adding five new markets and refining the methodology and data inputs - yielding a more comprehensive view into market influences that determine where sustainable development brings competitive advantages.
The 2011 Green Building Opportunity Index's top 10 markets overall:
1. San Francisco
2. Midtown NY
3. Washington, D.C.
4. Midtown South NY
5. Los Angeles
7. Downtown NY
"Green and sustainable building initiatives play a large role in solidifying a CBDs rank in the Green Building Index," said Peter Wilcox, Senior Manager, Commercial Sector, NEEA's BetterBricks. "For example, Seattle's adoption of the Energy Disclosure Ordinance and Portland's stimulus-funded existing building renewal of the Edith Green/Wendell Wyatt Federal Building are two examples that demonstrate how changes to either the regulatory scheme or market fundamentals can dramatically change the market viability of green building adoption."
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