Ivanhoé Cambridge was named a 2016 Green Lease Leader at BOMA International’s Annual Conference & Expo, an event that brought together thousands of commercial real estate professionals from June 25 to 28 in Washington, D.C.
Every year, the Institute for Market Transformation (IMT) and the Better Buildings Alliance shine a spotlight on property owners, tenants and brokers who modernize their lease language to account for energy efficiency and to encourage tenants and landlords to work together on sustainability goals for commercial buildings.
“The introduction of green leases at Ivanhoé Cambridge enables us to pursue our collective effort to reduce our environmental footprint. Ivanhoé Cambridge is proud to be leading the way in this movement,” said Sean Walters, Senior Vice President, Leasing, Mills and Outlets, Ivanhoé Cambridge Retail. “We want to act as a catalyst for our tenants and peers, while improving the sustainability of our buildings and generating energy savings that enhance our financial results.”
A green lease, also known as an energy-aligned lease, is a proven tool that breaks the boundaries set by traditional leases, helping owners and tenants lower their operating costs, and opening the door to deeper savings on utilities. In fact, IMT estimates that green leases have the potential to reduce utility bills by up to $0.51 a square foot and to reduce energy consumption in an office building by 11% to 22%.