Credit: Boston Business Journals
Being green is an attribute that Boston landlords aspire to achieve, and do so at a national-leading rate.
From the BBJ:
Massachusetts had 136 properties spanning 24.4 million square feet achieve LEED certification last year. That represented 3.73 square feet of certified space per resident — the highest rate of any other state in the U.S….The ranking comes at a time of both significant deal-making activity in the region’s real estate capital markets industry and during one of the largest building booms in the city’s history.
“Sometimes what will happen is a broker tells an owner: ‘I can’t show this property because buyers only want LEED-certified properties,’” Lee said. “They’re using LEED as a mechanism to give their brokers a little extra ammunition in the marketplace. … LEED is a global brand, and people recognize it as a third-party accountability structure that helps all parties get their game to a better level. It’s part of what capital markets are looking for: how do you distinguish one asset from another?”
What does LEED mean? From Wikipedia:
Leadership in Energy and Environmental Design (LEED) is one of the most popular green building certification programs used worldwide. Developed by the non-profit U.S. Green Building Council (USGBC) it includes a set of rating systems for the design, construction, operation, and maintenance of green buildings, homes, and neighborhoods that aims to help building owners and operators be environmentally responsible and use resources efficiently.
Back Bay’s newest office building continues to attract tenants as Accenture announces its move into 52,340 square feet of space. 888 Boylston Street is Boston Properties’ new 17-story 425,000 building. The complex also includes 800 Boylston Street, 101 Huntington Avenue and 111 Huntington Avenue.
According to the BBJ, “Boston Properties developed 888 Boylston, a 17-story, $275 million office and retail building in Boston’s Back Bay. The property was designed to be ‘the most sustainable building in Boston,’ said Bryan Koop, Boston Properties’ executive vice president.”
More details on Accenture’s move to 888 Boylston Street are available on the Boston Business Journal, here.
Credit: Boston Globe
Boston is home to long-haul, nonstop daily flights to Shanghai and Beijing. In addition, Boston will host the U.S. / China Climate summit in 2017.
From the Boston Business Journal:
“I am honored to announce that Boston will build on our global climate leadership to host next year’s U.S.-China Climate Leaders’ Summit,” said [Boston Mayor Marty] Walsh in a statement. “There is no more pressing, or defining, global challenge than climate change. We know we must be making investments now to create a more sustainable future for the world we share. I look forward to continuing these substantive, challenging conversations in Boston.”
The first summit occurred last September in Los Angeles and included a keynote address by Vice President Joe Biden and China’s State Councilor Yang Jiechi as well as the signing by 24 state and local leaders of a first-of-its-kind “U.S.-China Climate Leaders Declaration.”