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November 26, 2008

New study finds green buildings sell, lease better than non-green

  • The CEO of Co-Star, which did the study, said small supply and big demand are insulating green buildings from some of downturn.
    Journal Staff Reporter

    A recent study by CoStar Group, a commercial real estate information and research company, says LEED or Energy Star certified buildings have a higher occupancy rate than their non-green competitors and rent for more per square foot. The study looked at three million properties in the U.S.

    The information was presented at the U.S. Green Building Council's Greenbuild conference in Boston last week. Andy Florance, president and CEO of CoStar, Jay Spivey of CoStar and Norm Miller of the Burnham-Moores Center for Real Estate at the University of San Diego, presented the information.

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