Southern California Office Real Estate Blog

TO LIVE AND BUY IN THE CITIES – URBAN DEVELOPMENT IS A NATIONAL REAL ESTATE TREND

By Jodi Summers

The Environmental Protection Agency has confirmed that the inner city is making a comeback.

The EPA analyzed residential building permit trends in the nation’s 50 largest metro regions from 1990 to 2007, offers quantitative evidence that city neighborhoods are growing in popularity.

“We’ve had anecdotal evidence for a while about successful infill projects, but we were curious to see how they fit into the big picture,” notes John Thomas, an EPA policy analyst and author of the report. “The big question was whether those examples added up to a fundamental shift in the geography of residential construction.”

Think of the development of the downtown L.A. loft district and consider that in Los Angeles, the number of housing permits issued for city lots jumped from 19% to 37% during the 18-year study period. More impressively (or because of less space) inner city redevelopment now accounts for more than half of residential new construction in New York, up from just 15% in the early 1990s. In Chicago, urban core redevelopment now accounts for 40% of all residential building permits in the region, up from 7% in the early 1990s.

In total, more than half of the markets in the study saw a dramatic shift away from exurban greenfield development and an uptick in urban core redevelopment over an 18-year period. In 15 of those markets, the central city more than doubled its share of housing permits, with the most accelerated spikes occurring in the past five years…

Among the cities posting notable downtown growth are Miami, Atlanta, Seattle, San Diego, Denver, Portland, Ore., Sacramento, and Milwaukee.

The study attributes these trends in reverse migration to continue to baby boomers and echo boomers – who are driving housing preferences. Additional factors weighing heavily on the shape and location of housing include increased immigration, smaller households, concerns over energy usage and climate change, and downsized consumer expectations in the wake of the current recession.

“…What you’re seeing now is the result of pent-up demand for mixed-use, urban housing near jobs, and transit. The market pendulum is swinging from drivable suburbanism to walkable urbanism,” observes Ed McMahon, a specialist on sustainable development at the Urban Land Institute.

The trend may be far more expansive than the EPA study, which is limited to new construction and does not include housing created through the rehabilitation or adaptive reuse of existing structures.

“There are deep expectations among Americans that this volatility [in fuel prices] will continue,” shares David Goldberg, communications director for Smart Growth America. “Combine that with an aging population and a drop in household size, and all signs point to a desire for more convenient locations with transportation options.”

http://www.builderonline.com/infill-development/housing-migrates-back-to-cities.aspx?cid=BLDR090319002

http://wwp.greenwichmeantime.com/time-zone/usa/new-york/new-york-city/images/new-york-city.jpg

http://blogs.venturacountystar.com/motorhead/epa.jpg

http://www.uoregonlaw.com/s/293/images/editor/PortlandOregon.jpg

http://www.neosmartgrowth.org/

Energy to Sell - States with Renewable Portfolio Standards

States with Renewable Portfolio Standards

Edited by Jodi Summers

A nifty map and chart from the U.S. Department of Energy shows states with renewable portfolio standards - a state policy that requires electricity providers to obtain a minimum percentage of their power from renewable energy resources by a certain date.

You can find the map @ this link - http://apps1.eere.energy.gov/states/maps/renewable_portfolio_states.cfm?prin

You’ll notice that California is stellar with the objective of 33% renewable energy by 2030, but not nearly as aggressive as Maine, which is shooting for 40% renewable by 2017.

Currently there are 24 states plus the District of Columbia that have RPS policies in place. Together these states account for more than half of the electricity sales in the United States. Five other states, North Dakota, South Dakota, Utah, Virginia, and Vermont, have nonbinding goals for adoption of renewable energy instead of an RPS.

The chart below gives a rough summary of state renewable portfolio standards and links to organizations that are administering these standards or explain the details involved. Percentages refer to a portion of electricity sales and megawatts (MW) to absolute capacity requirements. Most of these standards phase in over years, and the date refers to when the full requirement takes effect.

**

http://apps1.eere.energy.gov/states/maps/renewable_portfolio_states.cfm?prin

TWO SOCAL BUILDINGS ARE EPA EFFICIENCY CONTEST FINALISTS

By Jodi Summers

The U.S. Environmental Protection Agency (EPA) has picked 14 commercial buildings for their first national energy efficiency contest – and two of the finalists are in Southern California. Kudos to the Courtyard by Marriott San Diego Downtown - San Diego, CA and JCPenney Store # 1778 - Orange, CA will be competing with 12 other commercial structures around the country to best streamline their energy usage and be heralded the winner.

Two hundred buildings entered the competition, which will run through October 26, 2010. Fourteen finalists were chosen for undisclosed reasons. (Meet the contenders @ http://www.energystar.gov/index.cfm?fuseaction=buildingcontest..contestants)

Each entrant was tagged with an energy use intensity (EUI) number portraying the building’s energy use. A building’s EUI is calculated by taking the total energy consumed in one year (measured in kBtu) and dividing it by the total floorspace of the building. The winner is the one who lowers their EUI by the greatest percentage. Obviously a candidate such as the Van Holten Primary School - Bridgewater, NJ (EUI 150) will use relatively little energy (particularly when school’s out) compared to the Solon Family Health Center in Cleveland, OH (EUI 318) or an office building 522 5th Avenue - New York, NY (EUI 242) . Each building will be judged on the percentage of reduction they achieve in their EUI.

The nominees will measure and track their building’s monthly energy consumption using Portfolio Manager, the EPA’s online energy tracking tool. The building that demonstrates the greatest percentage-based reduction through October 26^th will be recognized as the winner.

Now, a little about our local contestants -

The team name for the Courtyard by Marriott San Diego Downtown is “Money in the Bank” – appropriately named because the hotel is located in the historic San Diego Trust & Savings Bank building in the city’s Gaslamp district. Ten years ago, the building went through a spectacular adaptive reuse, transitioning from a bank and office building to the Courtyard by Marriott Downtown San Diego hotel with 245 guest rooms. The 1920s bank building has guest rooms and common areas retrofitted with efficient sensors and technology. The hotel lists four reasons why it is important for it to save energy, money, and reduce greenhouse gas emissions: 1) Its guests expect it, 2) Its owners require it, 3) Its employees know it is the right thing to do, and 4) It owes it to their community. MSD’s starting EUI is 162.

JCPenney Store # 1778 - Orange, CA is calling their crew the Orange Power Rangers. That JCPenney Store opened in 1977. The store covers 100,853 gross square feet with a net sales floor space of 69,723 square feet. The Orange store is part of a group of 63 JCPenney stores that participate in the company’s Advanced Energy Management (AEM) Program, which focuses on energy awareness on both the facility maintenance and store associate level. With the help of an Interval Data Recorder (IDR) meter, the energy usage of this store is monitored on a next-day basis, and daily store energy use reports for all associates to see. JC Penny Orange is already using 35% less energy than it was last year. 1778. Their starting EUI: 165

Good luck to all of the finalists, may you make the world a better place. Btw, does anyone else know what the winner gets, other than a trophy and/or plaque to proudly display?

**

http://www.energystar.gov/index.cfm?fuseaction=buildingcontest.contestants

http://www.bustler.net/index.php/article/14_finalists_picked_in_epas_national_building_competition/

http://www.energyboom.com/emerging/epa-and-energy-stars-new-national-building-competition?utm_source=feedburner&utm_medium=email&utm_campaign=Feed%3A%20energyboom%20%28EnergyBoom%20Daily%20Briefing%29

http://blog.syracuse.com/storefront/2009/09/large_penney.JPG

http://brandmediaweek.typepad.com/.a/6a00d834519bc269e20120a694b62a970b-580wi

http://oldstockshop.com/willstock/eBay/jcpennyru11705.jpg

http://images.hotelplanner.com/hotelimages/s/047000/047845A.jpg

SOCAL OFFICE REAL ESTATE SNAPSHOT – JULY 2010

by Jodi Summers

Yup, it’s been confirmed again, the office sector will be stagnant for the rest of the year. The state “will grow slower than the US and a slow recovery in jobs will leave unemployment at 12.1% for the year,” notes UCLA Anderson senior economist Jerry Nickelsburg, in the midyear forecast.

Statistics confirm this. According to Clarus Market Metrics, comparing Jun-08 vs. Jun-10, the median price of for sale properties is down 14% in Los Angeles County. Yet, sellers do not quite understand the depth and breadth of the market drop, as the median price of sold properties for the same period is down 58%.

Sure, office building owners are whining, but things will look up. According to the Los Angeles County Economic Development Corporation, California’s unemployment rate dropped in May. Not a lot mind you, we dropped to 12.4% from 12.5% in April, but we’re moving in the right direction.

The L.A. County office building market can be proud that comparing Jun-08 vs. Jun-10, The number of sold properties is up 200% - from 1-3…whoopeee!

Additionally, three properties went under contract in June, compared with zero two years ago.

Think positive. Keep in mind, we also live and own in one of the most desirable cities in the world. As bad as the office sector may feel in the Los Angeles area, it can always be worse. According to CoStar.com, there are parts of the country like Lansing, MI, where commercial loans back more than 50 properties, and nearly 1 in 5 loans are in the process of defaulting. Heavily impacted commercial loan markets in metro areas like Las Vegas, Phoenix, Detroit, Orlando, Tampa and Atlanta all show probability of default ratios of 10% to 14% and loss severities on loans of 8.6% to 15.4%.

Los Angeles falls into the category of lucky megalopolises. Major metro areas - including Los Angeles, San Diego and Orange Counties - as well as Washington DC, Boston, New York and Seattle, show defaults and losses are running at less than 4%. In the stronger cities, distressed sales account for just 6% to 11% of the activity, according to the CoStar analysis.

“By and large, these distressed transactions have been in suburban submarkets,” observes Stephanie Hession, a real estate economist with CoStar Group. “Since the beginning of 2009, suburban assets accounted for 63% of total office sales volume but 75% of distressed volume.”

If you can stick it through this year, the future is looking bright. “The latter part of our forecast (through 2012) calls for health care, professional and business services, exports, construction and technology-related manufacturing sectors to generate a bit more robust growth in California,” optimistically concludes Nickelsburg, in the midyear Anderson Forecast.

We’re here to help you with commercial properties. Please contact Jodi Summers – jodi@jodisummers.com or 310.392.1211 for details.

**

https://www.terradatum.com/agentmetricsonline/property_type_selection.td

http://www.edd.ca.gov/About_EDD/pdf/urate201006.pdf

http://www.globest.com/news/1684_1684/losangeles/300380-1.html?ET=globest:e22415:277110a:&st=email

http://www.laedc.org/eedge/index.html#1

GREEN REAL ESTATE – GOOD FOR CALIFORNIA, GOOD FOR THE COUNTRY?

By Jodi Summers

Once again, when it comes to green, what’s good for California tends to become good for the country. The US Environmental Protection Agency and the Department of Energy have formed an action group to help states achieve the maximum cost-effective energy efficiency improvements possible in offices, buildings, industries and homes by 2020. Dubbed the State Energy Efficiency (SEE) Action Network, they are seeking to create a national version our statewide CALGREEN building code.

The CALGREEN Code was devised California Building Standards Commission is setting minimum green-building criterion that may, at the discretion of any local government entity, be applied.

“You will have a whole bunch of cities that never would have included this in their building doing it, and doing it in a way that won’t kill the economy,” observes Matthew Hargrove, a vice president with the California Business Properties Association. “Outside the coastal areas it will be helpful - like in West Sacramento, where they looked into creating a green building code but balked because it’s cumbersome to develop and they didn’t have the resources.”

Take the whole bunch of cities concept and spread it across a bunch of states. The DOE and EPA noted that 32 state public utility commissions requested help from the agencies last year regarding energy efficiency programs. SEE will be working with states to provide technical assistance and policy and program issues to advance energy efficiency efforts. Those state efforts may include financing solutions, residential efficiency programs and improving availability of energy usage information.

No doubt SEE’s goals will be similar to what we set forth in California. The purpose of CALGREEN’s codes is to improve public health, safety and general welfare by enhancing the design and construction of buildings through the use of building concepts that have a positive environmental impact, and by encouraging sustainable construction practices in the following categories:

• Planning and design

• Energy efficiency

• Water efficiency and conservation

• Material conservation and resource efficiency

• Environmental air quality

As California did with CALGREEN, now SEE and other DOE programs will help states develop strategies and action plans to improve the energy efficiency of existing building and reduce costs and emissions.

One small step for man, one giant leap for mankind.

**

http://www.businessgreen.com/business-green/news/2257243/agencies-action-buildings

http://www.socalmultiunitrealestateblog.com/?p=673

http://www.socalgreenrealestateblog.com/?p=764

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http://www.socalofficerealestateblog.com/wp-content/newuploads/2009/08/calgreen_code_page_01.jpg

THE GREENEST CITIES IN THE WORLD

THE GREENEST CITIES IN THE WORLD

 Edited by Jodi Summers

 We like lists, it means a lot of research has been done. Today’s dynamic list is from Reader’s Digest;
 they have come up with a list of world's greenest, most livable cities. To compile this list, they have an
alyzed data from two top sources covering 141 nations. We’ll give you the top 26 greenest cities
(as 26 happens to be San Francisco), the rest you can find @
http://www.rd.com/your-america-inspiring-people-and-stories/best-places-to-live-green/article45734.html

1. Stockholm, Sweden

2. Oslo, Norway

3. Munich, Germany

4. Paris, France

5. Frankfurt, Germany

6. Stuttgart, Germany

7. Lyon, France

8. Dusseldorf, Germany

9. Nantes, France

10. Copenhagen, Denmark

11. Geneva, Switzerland

12. Zurich, Switzerland

13. Glasgow, United Kingdom

14. Barcelona, Spain

15. New York, United States

16. Brussels, Belgium

17. Hamburg, Germany

18. Hong Kong, PR China

19. Newcastle, United Kingdom

20. Tokyo, Japan

21. Helsinki, Finland

22. Washington, D.C., United States

23. Chicago, United States

24. Vancouver, Canada

25. Dortmund, Germany

26. San Francisco, United States

**

Sources:

http://images.businessweek.com/ss/07/04/0406_liveable_cities/image/7_frankfurt.jpg

http://www.rd.com/your-america-inspiring-people-and-stories/best-places-to-live-green/article45734.html

http://www.primetravels.com/PackageImages/699/Stockholm-Sweden_03-360a032607.jpg

http://highendfood.files.wordpress.com/2009/01/frankfurt_skyline.jpg

http://mamofrizzi.files.wordpress.com/2009/06/tb_copenhagen_denmark.jpg

http://www.bertgulick.com/images/05/copenhagen-denmark.jpg

http://www.iho-ohi.org/wp-content/brussels-belgium.jpg

http://library.thinkquest.org/06aug/01253/Hotspots%20in%20Europe/BrusselsCityImage.jpg

http://wallpapers.free-review.net/63__Shibuya_Tokyo_Japan.htm

http://img61.imageshack.us/img61/3771/eiffeltower2cparis2cfrawo0.jpg

http://www.spa.ucla.edu/up/webfiles/tokyo-shinjuku-45_4.jpg

http://paaia.org/galleries/default-image/san-francisco.jpg

http://www.namss.org/images/AC2008/SanFrancisco.jpg

COMMERCIAL REAL ESTATE LENDING SNAPSHOT

edited by Jodi Summers

Allow us to present a really interesting synopsis of current commercial loan trends from a variety of banks, from an article on CoStar.com. The information is from first quarter, but it gives an idea of the ebb and flow of the commercial loan marketplace. Banks are presented in alphabetical order…

* Citigroup — In March, new commercial real estate loan commitments increased more than tenfold to $1.4 billion, compared with $132.4 million in the previous month. Loan renewals increased to $112.1 million, from $25.8 million in February. Average total CRE loan and lease balances rose to $23.8 billion, up from $23.3 billion in February.

*

* Comerica Inc. — Commercial real estate renewals increased in March from February 2010. The increase was concentrated in the Western states and Texas markets, partially offset by a decrease in the Florida market. Commercial real estate new commitments decreased.

*

* Fifth Third Bancorp — Average CRE balances decreased by approximately 0.7% in March 2010 compared to February 2010. New CRE commitments originated in March 2010 were $288 million, compared to $102 million in February 2010. Renewal levels for existing accounts increased in March 2010 to $964 million versus February 2010 at $392 million. Payments and dispositions of troubled CRE outpaced the volume of renewals and new originations in March causing the overall balances to continue to decline. As commercial vacancy rates continue to increase, Fifth Third continues to monitor the CRE portfolios and continues to suspend lending on new non-owner occupied properties and on new homebuilder and developer projects in order to manage existing portfolio positions.

*

* KeyCorp — There was no change in loan demand trends in the CRE segment during March. The CRE market outlook continues to be weak. KeyCorp continued to extend and modify existing credits given the lack of liquidity and refinancing options available in the CRE market. Renewal volume doubled from the February level to $560 million and is comparable to levels experienced in April and May 2009. Three-fourths of the renewal volume, totaling $420 million, was related to performing development projects for which refinancing options remain constrained. For CRE development projects, KeyCorp created a fixed-rate 3-5 year loan program to modify and extend qualifying loans for existing customers.

*

* Marshall & Ilsley Corp. — Construction and development concentrations continued to decline in-line with its goal of reducing credit exposure in this sector. Average CRE balances are expected to continue contracting due to portfolio amortization.

*

* Regions Financial Corp. — The focus in commercial real estate lending continued to be on renewing and restructuring real estate loans with existing clients versus active pursuit of new real estate loans. Renewal activity includes loan restructuring, remargining and repricing, based on the current credit quality of the sponsor, the performance of the project and the current market.

*

* SunTrust Banks Inc. — Average Commercial Real Estate loans decreased $192 million, or 0.9%, compared to the February average. Total CRE renewals and originations in March increased $252 million, or 77.5%, compared to seasonally low February activity. The majority of originations were associated with large commercial or corporate businesses.

**

Thank you, http://www.costar.com/News/Article.aspx?id=359D8A406145159176A40807B924DC84

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http://www.lighthousebank.net/Portals/97/Apartments.jpg

http://aexcfgllc.com/resources/commercial-loan-help.gif

http://static.move.com/trends/US_Economy-large.jpg

http://www.kingcommercialcapital.com/images/tacoma_commercial_real_estate_lending_picture_8.gif

LOS ANGELES WINS THE ENERGY STAR GRAND PRIZE…AGAIN

By Jodi Summers

Bravo to all of you greening your properties. According to our friends at the environmental protection agency, approximately 3,900 commercial buildings earned the Energy Star rating in 2009, representing annual savings of more than $900 million in utility bills and more than 4.7 million metric tons of carbon dioxide emissions. Impressively, nearly 9,000 buildings across the nation have earned the Energy Star for superior energy efficiency during the past 11 years.

A standing ovation for our beloved Los Angeles. The EPA ranked us as first on its annual list of metro areas with the most energy-efficient buildings. We led the field with 293 buildings labeled Energy Star in 2009, up from the 262 that qualified the city as No. 1 in 2008.

Kudos also go to our nation’s capitol. Washington, DC, ranked fourth place in 2008, is now in second, with 204 Energy Star buildings, up from 136 the previous year.

Energy Star is a voluntary labeling program run by the EPA and U.S. Department of Energy. In order to qualify, a building or manufacturing plant must score in the top 25 percent based , on the agency’s National Energy Performance Rating System and use less energy, reduce operating expenses and cause fewer greenhouse gas emissions.

Roll the credits - the top 25 cities with the most energy star labeled buildings in 2009 are:

1. Los Angeles, CA

2. Washington, DC

3. San Francisco, CA

4. Denver, CO

5. Chicago, IL

6. Houston, TX

7. Lakeland, FL

8. Dallas-Fort Worth, TX

9. Atlanta, GA

10. New York, NY

11. Minneapolis-St. Paul, MN

12. Portland, OR

13. Boston, MA

14. Seattle, WA

15. Detroit, MI

16. Sacramento, CA

17. San Diego, CA

18. Austin, TX

19. Miami, FL

20. Phoenix, AZ

21. Ogden, UT

22. Charlotte, NC

23. Indianapolis, IN

24. Des Moines, IA/Fort Collins, CO/Philadelphia, PA

25. Louisville, KY

**

http://www.greenbiz.com/news/2010/03/23/la-takes-top-spot-epa-green-building-rankings

http://www.costar.com/News/Article.aspx?id=624F645516667EF93A09A56906607F8E&ref=100&iid=174&cid=383F14EEE265B182474DA2442BACBBBF

http://gateway.costar.com/imageviewer/GetImage.aspx?webimage=EPA+Energy+Star.JPG

http://lakelandflforeclosures.com/images/lakelandatnight.jpg

http://www.staronetickets.com/images/Seattle.jpg

http://away.com/images/outside/200808/ogden-ut.jpg

http://pics4.city-data.com/cpicc/cfiles28462.jpg

SOCAL OFFICE REAL ESTATE SNAPSHOT – JUNE 2010

By Jodi Summers

The experts have few kind words for the Southern California office real estate market this month…

“After plunging by 2.4% during 2009…we project that the U.S. economy will grow by 2.6% in 2010 and by 3.1% in 2011,” proclaimed Nancy D. Sidhu, Ph.D., the chief economist for the Los Angeles Economic Development Corporation. “However, unemployment rates in the U.S. will remain uncomfortably high, averaging 9.9% in 2010 and 9.4% in 2011.

“California’s economy is also on the recovery track, but the state will still lose 121,800 jobs in 2010,” continued Sidhu. “However, this will be a huge improvement from the 668,200 jobs lost in 2009.”

“Southern California’s five metropolitan areas will also be in recovery mode during 2010,” noted Jack Kyser, Founding Economist of the Kyser Center for Economic Research. “Like the nation and state, it will be a measured recovery, with more job losses and high unemployment rates in 2010.”

According to 2007 statistics, the leading employers in Los Angeles County are: 1.) tourism and hospitality with 456,000 workers; 2.) professional and business services with 288,000 workers; 3.) direct international trade with 281,000 workers; 4.) entertainment (motion picture/TV production) with 244,000 workers; and 5.) wholesale trade and logistics with 199,000 workers.

In Los Angeles County at the end of 1Q 2010, year over year employment losses were evident in nearly all of the major employment sectors, with the exception of health services. On an optimistic note, container traffic at both the Port of Los Angeles and the Port of Long Beach has increased, and the demand for construction permits for single family housing surged by +78.7%, while year-over-year and permits for multi-family housing rose by +24.4%. Median Home values in Los Angeles County are up 9.7%; prices are now similar to April 2003 price levels. Travel is up, with passenger traffic at the combined L.A.-area airports increasing by +3.4%. And total film production days in Los Angeles County increased 14.7% from a year earlier.

“Nonresidential real estate activity will remain in the doldrums during 2010,” observed Kyser. “Office vacancy rates are at lofty levels around Southern California, with the Riverside-San Bernardino area highest at 23.6% at year-end 2009, and Los Angeles County low at 16.0 percent.”

Lawrence Yun, chief economist for the National Association of Realtors confirmed Kyser’s remarks, nothing that vacancy rates will continue to rise in most types of commercial real estate such as office and industrial buildings until the end of this year or early 2011.

“The office, warehouse and retail sectors continue to experience the delayed effects of the recession,” Yun stated. “These sectors should see gradual improvement after jobs pick up and create additional demand for space, meaning a broader improvement in commercial real estate is likely in 2011.”

Commercial rents will continue to dip in 2010, Yun concluded, though apartment and industrial rents are close to stabilizing.

**

http://www.laedc.org/businessscan/charts/0510/unemployment.jpg

http://www.laedc.org/businessscan/charts/0510/pst.jpg

http://latimesblogs.latimes.com/money_co/2010/05/vacancy-rates-will-continue-to-rise-in-most-types-of-commercial-real-estate-such-as-office-and-industrial-buildings-until-the.html

http://www.costar.com/News/Article.aspx?id=359D8A406145159176A40807B924DC84

(http://www.labormarketinfo.edd.ca.gov

http://www.laedc.org/businessscan/index.html#unemployment

http://www.laedc.org/newsroom/releases/2010/100217_LAEDC%20Economic%20Forecast%202-17-10.pdf

http://www.laedc.org/reports/LA%20County%20Profile.pdf

GREEN LEASING TOOL KIT

By Jodi Summers

Studies and Awards are praising green commercial buildings for creating higher occupancy rates, stronger rents and higher sales prices. As we’re in a down market for leasing, those in the know want to share, so the California Sustainability Alliance has developed and test strategies to green California’s commercial office space. This effort focuses on “green leasing”, i.e., integrating sustainability practices into the entire commercial leasing process. The Green Leasing Toolkit 2.0 includes insight on service provider selection; marketing of buildings, development of green specifications; request for proposal (RFP) and letter of intent (LOI) drafting; site selection and due diligence; and the negotiation and drafting of realistic and enforceable lease language.

The tools offered in Green Leasing Toolkit 2.0 are relatively easy to implement. These tools can be used by both landlords and tenants who manage or occupy large portfolios of facilities as well as small business owners and landlords who hope to green an individual building.

The Toolkit supports tenants and landlords in the following ways:

* Educating their organizations

* Developing their own green leasing policies and requirements

* Communicating policies and requirements to the market

* Measuring and comparing the green attributes of different buildings

* Developing specific lease language

http://sustainca.org/green_leases_toolkit

http://www.socalgreenrealestateblog.com/?p=52