According to the study, "Does Green Pay Off?," ENERGY STAR rated commercial buildings have sale prices 30% per sq. ft. higher than traditional buildings.
Compared to traditional buildings, owners and managers of ENERGY STAR rated buildings can expect
- $2 per sq. ft. greater rents,
- 2% higher occupancy rates and
- $0.54 per sq. ft. lower energy-related operating costs
Operating expenses from energy costs varied with Energy Star-rated buildings running $1.27 per square foot per year for energy in 2006 and non-Energy Star-rated buildings running $1.81 per square foot.
Survey results are based on findings in a study released last week. Norm Miller, a professor at the University of San Diego, and Jay Spivey and Andy Florance, the research director and CEO respectively with CoStar. They compared 223 ENERGY STAR rated Class A office buildings of at least 200,000 sq. ft. with 2,077 non-ENERGY STAR buildings of the same class and size.
Buildings with the ENERGY STAR label are among the 25% most efficient of similar buildings nationwide.
