*Attorney Paul D’Arelli has kindly provided us with a copy of his new e-book, Negotiating Leases in the Era of Green Building: Managing Risk and Merging Expectations in Pursuit of the Deal, to give away here at GRELJ. Just add a comment to this post before 5PM ET next Monday, June 13 and we’ll select one commenter at random to receive a free copy by email.

Negotiating Leases in the Era of Green Building is – as far as I can tell – the first publication of its kind and will be an important addition to your green real estate library. Although a handful of other books – including USGBC’s Green Leasing Guide – have been written about green leases, Mr. D’Arelli places his primary emphasis on discussing risk management as it relates to each step in the green leasing process. The book is written in an accessible voice that will appeal to non-attorneys. But even seasoned real estate practitioners will derive significant benefit from Mr. D’Arelli’s ability to explain the intersection of traditional leasing concepts and green building principles.

Here’s the teaser from the book’s website:

This informative 42-page guide provides a “plain English” presentation of issues and concepts that must be considered by landlords, tenants and their representatives in this new era of sustainability where traditional leasing is intersecting with green building pursuits and requirements.

Rather than attempt to move the industry toward some new model of green leasing – a difficult proposition given the variation in local leasing customs – this guide provides an issue-focused approach that can be used as a basis for informed negotiation geared toward accommodating the needs of the parties regardless of local lease preference.

This conversational guide, while written by an attorney who has been at the forefront of the green legal movement, is fortunately not a legal treatise but an easy read about an increasingly complicated subject.

If you can’t wait to find out the results of our giveway, you can download the book for $15 here. Good luck! And congrats to Paul on a well-written, important piece of work.

Lest anyone suggest that these not practical concerns for every green construction project, I’ve compiled a series of images below of project sites here in Manhattan at various stages of completion over the course of the past six months. From left to right, I think the images speak for themselves; the first project, though pre-certified at the time under the LEED for Core and Shell system, had not formally received a LEED Gold rating from USGBC as the sidewalk bridging suggested. The second, which is currently plastered over construction fencing that covers future ground floor retail space at what will be a LEED Gold retrofit in Midtown, simply states that the space is “green” without any detail regarding exactly what “green” means. Finally, I think the third photograph demonstrates a partial best practice for green building owners: be straightforward about the project and what is attempting to accomplish – “pursuing LEED Gold certification”- without making exaggerated claims or guarantees about final certification level or how the building will perform down the line.

As Kim Ford of CresaPartners notes in the CoStar piece, “[o]ften, the people marketing LEED-registered buildings like to use the word LEED, but they’re very naive about the terminology.” Anderson also makes the excellent point that “[w]hen it’s a statement of environmental good, there’s a presumption that it might not need to be examined carefully.” Beyond terminology, Mr. Burr points out that, according to a recent study by Green World Media, between 25 and 30 percent of LEED-registered projects drop out of the process and never proceed to final certification, in part due to the expense, but also the average two-year lag between registration and formal certification. For the owner that sticks “LEED Gold Certified” on project marketing materials, in quarterly reports or other disclosures to the SEC, or in a lease term sheet with a tenant who has a corporate mandate to occupy office space in LEED Gold buildings only, the potential liability for a LEED-registered project that drops out of USGBC’s queue could be enormous.

One of the major reasons why I launched this site was to foster a “more robust,” as I called it, discussion of the liability aspects of building green amongst industry stakeholders and, again, I’m happy to see CoStar presenting some of these issues so early on in 2009. Nevertheless, I do think these issues are real and serious for every owner to consider, particularly in the type of down economy where litigation is always more pervasive.

• Increase in Dubious Claims of LEED Certification Seen in Marketplace (CoStar)

• Redevelopers Beware – SF Ordinance is LEED on Acid (gbNYC)