New Commercial Property in San Diego Is Slowly Going Green
The green building movement is gaining momentum in new commercial property in San Diego, as both building owners and tenants realize that high-performance buildings make economic sense: they use up to 50% less energy than conventional buildings and command above-market rents and sales prices.
Many real estate developers and owners in San Diego and elsewhere have adopted green standards for their commercial property , because tenants prefer them. "People who work in these buildings love them," because they feature lots of natural light, healthy indoor air quality, and consistent thermal comfort, says Rob Watson, senior scientist for the Natural Resources Defense Council. Plus, employees working in these buildings are healthier and happier, resulting in higher productivity and less absenteeism, he added.
There are several commercial properties in San Diego that have been certified as "green" or sustainable projects under the LEED rating system. A LEED rating (Leadership in Energy and Environmental Design) means a building uses key resources such as energy, water, materials and land more efficiently than buildings that are just built to code. The rating system was established by the nonprofit U.S. Green Building Council. Another rating system is Energy Star, which was introduced in 1992 by the Environmental Protection Agency to identify energy-efficient products to reduce greenhouse emissions.
One such commercial property in San Diego is La Jolla Commons, a 15-story, 346,000-square-foot office development under construction in University Towne Center . A second property is Horizon Technology Center , being built by Opus West in Scripps Ranch. Both have been certified as green or sustainable projects under the LEED rating system.
The largest green commercial property in San Diego is currently under construction. The Summit Rancho Bernardo office project, which broke ground in October, has been called the largest green project in Southern California . The $1.2 billion development will include 11 office towers and require seven to 10 years to complete. The first phase is expected in early 2009.
However, there isn't a plethora of green commercial properties in San Diego . The San Diego office of CoStar Group, a real estate research company, says the county has only 22 office properties that are under LEED or Energy Star certification, a total of 3.4 million square feet, which puts the region far behind other large urban areas in California in green office space. San Francisco has 30 office buildings and Los Angeles has 100 office buildings that are either LEED certified or Energy Star rated.
If you're looking for green commercial property in San Diego , call us at MBA Commercial. We can show you several locations and negotiate the best deal for you.