WE BETTER UNDERSTAND KERMIT
We know it’s not easy being green, but we learned green leases have challenges too, at CREW’s luncheon yesterday at the East Bank Club. Baum Development's Talia Lissner, Cushman and Wakefield's Marilyn Lissner, and Gould & Ratner's Amy Blumenthal discussed some of the challenges (and their successes). Talia's working on the Green Exchange, an all-green mall near 90/94 on the northwest side. There, green retailers, office tenants, lenders, and developers are working together to create the most eco-friendly space possible. Also in development? Talia is Marilyn's daughter-in-law and ready to deliver grandbaby number eight!
Jenner & Block's Kristen Boike says even with green leases, money is still the bottom line for landlords and tenants. She encouraged brokers to be flexible in lease terms by accommodating changes that may take place in rating systems over the next five years. She thinks landlords should provide handbooks and regulations on how tenants can use their new green space and thinks tenants should be aware of its capabilities. Also, she hopes tenants and landlords can agree on who will pay costs associated with re-certification.