Many commentators suggest that, as a threshold issue, a green lease include an “environmental performance objective,” or a clause that requires both landlord and tenant to operate the demised premises pursuant to a set of very general, aspirational green building objectives. Upon reading a sample environmental performance objective clause, you may be reminded of the form language in the 2007 version of the AIA’s B101 Owner Architect Agreement, which obligates the architect to make a set of very vague and non-specific green building-related recommendations to the owner with respect to certain aspects of its proposed design for the project. While provisions in a lease that set forth a roadmap for landlord and tenant to operate demised premises in a sustainable manner should by no means be discouraged, it is important for landlords to carefully consider the specific language that they may choose to insert into a green lease as part of such clauses.
Tag Archives | green commercial leasing
By Stephen Del Percio on January 28, 2009 in 100 Park Avenue, Grand Central Station, Leases, LEED-EB, Manhattan, Market Analysis, Marketing, New York City, Transactions
Perhaps it’s anecdotal, but SL Green’s $72 million capital investment in 100 Park Avenue is paying dividends: a Wells Fargo subsidiary has indicated it was attracted to the tower’s pending LEED Silver certification after agreeing to a major lease.