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Case Study

Green lease supports corporate goals

A global financial institution’s Corporate Real Estate and Services created a rigorous 11-point program of global sustainability goals, with the intent that all worldwide operations attain at least some of the objectives. A North American development center being rolled out for the company’s newly created Global Technology subsidiary was considered a good opportunity to incorporate sustainability goals. The challenge was that the center was leasing space and required not just an environmentally friendly building, but landlord commitment to the global financil institution’s exacting standards. The company asked Jones Lang LaSalle, its provider of tenant representation, lease administration, and project and facility management, to help drive a green lease that incorporated as many global sustainability goals as possible.

Negotiating sustainability implement an aggressive green leasing strategy. After working with the client’s IT, real estate and sustainability leaders to determine The Jones Lang LaSalle team drew from the firm’s best practices in sustainability initiatives to help the global financial institution critical requirements, our team performed a multi-city search for prospective locations across the United States and Canada. Attributes such as human resources, educational partnership opportunities and real estate costs were weighed along with sustainability considerations. The leading candidate was a 35,000 sqaure foot area in an office building in Raleigh/Durham, North Carolina. An additional advantage of this location is proximity to a large Jones Lang LaSalle market office with a broad array of real estate specialists.

Working in partnership with the company's legal team and tax consultant, we researched and indentified signigcant grants and tax breaks from state and local governments. Equally important, we assertively secured a lease with terms and conditions enabling flexible space takedown, design freedom with limited restoration requirements and sustainable infrastructure/operational controls including:

  • Retro-commissioning to confirm that building systems perform according to specifications, identifying any changes where necessary
  • Evaluation and selection of replacement equipment with highest Energy Star ratings 
  • Reduction of waste through recycling and documentation of disposal, including audit rights and purchase of renewable and recycled content materials
  • Monitoring of indoor air quality with quarterly landlord reporting
  • Landlord quarterly provision of actual utility usage data and billing documentation
  • Rights to obtain additional building power capacity if necessary
  • A green cleaning program involving landlord/tenant partnership
  • Optional purchase of renewable energy credits
  • Optional installation of expanded water-reducing restroom fixtures and energy-efficient lighting and tenant sub-metering

Groundbreaking green success operational savings have been achieved from reusing an existing generator and other infrastructure components. The landlord also The global financial institution’s first green lease has been considered a success by all measures. Already capital expenditure and has agreed to construct additional parking, enabling the company to attain a workpoint density consistent with corporate standards. The new lease incorporates an impressive nine of the global financial institution’s 11 overall global sustainability goals, and the building has applied for LEED Silver certification. It has been recognized as a model for proactively building sustainable features into a leased property that might not otherwise exist.

The global financial institution has received very favorable exposure for the facility, which is expected to eventually house more than 300 professionals. The regional Triangle Business Journal honored the new development center as one of the Raleigh/Durham/ Greensboro “Deals of the Decade.”

For more information contact: Marion Brady +1 201 593 6777 marion.brady@am.jll.com

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