What’s most interesting about two recent deals totaling 12,400 square feet at 7 WTC is that at least one of the tenants was attracted to the building’s LEED rating, in addition to its stunning views and Downtown location.
Although the tower doesn’t sport a LEED or an Energy Star label – yet – a recent deal at Malkin Properties’ historic 250 West 57th Street is notable for a number of important reasons.
Welch Allyn, a New York-based manufacturer and distributor of medical supplies, was recently able to capitalize on the soft commercial real estate market by negotiating green building upgrades in connection with a 100,000-square-foot office renewal in Beaverton, Oregon.
Characterized by the owner as a green lease, two Swedish companies have committed to decreasing energy in a new 10-year lease for 14,000 square meters of mixed-use space in two buildings located just west of Stockholm.
By signing a term sheet last week for 300,000 square feet, the General Services Administration has vaulted the LEED Gold-hopeful 1 World Trade Center past the critical 50 percent-leased threshold.
The Empire State Building’s green retrofit was the “key thing” in convincing LinkedIn executives to sign a 7-year, 31,000-square-foot lease for the iconic skyscrapers entire 25th floor.
1211 Avenue of the Americas – the country’s largest LEED-EB office building – recently landed a large insurance tenant for 121,000 square feet on the 24th through 26th floors.
The Empire State Building’s pre-built green office suites continue to be popular; the tower’s most recent deal is for a 4000-square-foot LEED Platinum-candidate space on the 42nd floor.
In Oregon, two small commercial tenants have bucked prevailing market trends and signed green leases with Unico Properties at the historic 13-story Commonwealth Building in downtown Portland.
5 of the 20 largest leases signed in Manhattan in 2009 (as reported recently by the New York Observer) were inked in green buildings. GRELJ takes a closer look at each of these deals to draw some anecdotal conclusions about the current state of New York City’s green commercial real estate market.