San Francisco ranked at the top of a list of the 30 largest office markets for green opportunities, according to the second annual Green Building Opportunity Index released by Cushman & Wakefield in collaboration with the Northwest Energy Efficiency Alliance's BetterBricks initiative.
The Green Building Opportunity Index is designed as an assessment tool to provide weighted comparisons of top U.S. office markets on the basis of both real estate fundamentals and green development considerations. The index compares a market's relative position to its peers in six categories: office market conditions, investment outlook, green adoption and implementation, local mandates and incentives, state energy initiatives, and green culture.Â
Following San Francisco on the list were the midtown section of New York City; Washington, D.C.; the midtown south section of New York City; Los Angeles; Boston; downtown New York City; Portland, Ore.; Seattle; and Oakland, Calif.
Theddi Wright Chappell, senior managing director and national practice leader of the green advisory practice within Cushman & Wakefield's valuation and advisory group, notes that the index is designed as a guide for ‘city leaders and urban planners as they set sustainability goals for their region, and it reflects the market nuances that bring competitive advantages to an urban commercial real estate market.’
#
