According o the Slatin Report, the Conference Board recently held its second annual Corporate Real Estate Conference in Manhattan, and participants noted green buildings are fast becoming the norm in commercial real estate.
Among those who believe in the future of sustainable real estate practices are Stephen D. Lane, executive vice president of Citigroup Realty Services; Kenneth W. Hubbart, executive vice president at developer Hines; and Charles Zimmerman, Wal-Mart's vice president of prototype and new format development.
"Sustainable real estate practices haven't reached a tipping point yet, but it won't be long. The business case for sustainability can be made and is being made," Hubbart said. He further predicted the brokerage community will play an active and leading role in the coming months in demanding sustainability. Zimmerman, meanwhile, detailed Wal-Mart's attempts at making its considerable property assets greener. Those in attendance also noted that sustainability is more than just green-building design.
William Reinert, Toyota Motor Sales USA's national manager of advanced technology, stressed the importance of "building teams in your organization to address how sustainability is going to be applied throughout your portfolio." EC