The Market
Urgent need: Of the 900M SF of Class A & B office space in California about 90% is leased, and only 6% of the leased space is LEED or ENERGY STAR rated.
Focus on large tenants: Large tenants (greater than 50,000 SF) make up 50% of the total portfolio, and account for roughly 45M SF of lease renewals every year.
Substantial benefits: If 810M SF of leased Class A & B office space were fully greened this year,
- 45% of California office building waste would be eliminated,
- water usage would be reduced by 36%,
- energy usage would be cut by 27%,
- greenhouse gas emissions would drop by 25%.
Focus on large tenants: Large tenants (greater than 50,000 SF) make up 50% of the total portfolio, and account for roughly 45M SF of lease renewals every year.
Substantial benefits: If 810M SF of leased Class A & B office space were fully greened this year,
- 45% of California office building waste would be eliminated,
- water usage would be reduced by 36%,
- energy usage would be cut by 27%,
- greenhouse gas emissions would drop by 25%.
