Green Leases Could Help Building Owners Avoid Billions In Fines, But Hurdles Remain

September 25, 2023 / no comments

Building owners across the country are increasingly subject to state and local regulations that require them to improve the sustainability of their properties or face sometimes hefty fines. But when it comes to paying for those improvements, especially in offices with elevated vacancy rates stemming from reduced tenant usage, the question of who pays what can get sticky.
After all, tenants are the ones who control energy usage and are likely to reap the savings from green upgrades, at least under a common triple-net lease structure. But it’s landlords that front the cost of the improvements.

California’s New Emissions Disclosure Bill: What It Is And What It Means For CRE

September 25, 2023 / no comments

California passed a slew of new climate bills this month, but one in particular is being closely watched for its potentially wide-ranging impacts on big companies that do business in the state.
Called SB 253, it would require companies to look closely at their greenhouse gas emissions and those of the companies they work with. The hope, the bill’s sponsor, Sen. Scott Weiner, has said, is to create a full picture of the environmental impacts of these major companies and encourage decarbonization.
But what is SB 253 and what does it mean for commercial real estate?
What is SB 253?
SB 253 directs the California Air…