Using the Lease to Create More Sustainable Coworking Spaces
In 2019, coworking spaces dominated leasing activity and encompassed more than 521 million square feet of commercial space globally. For coworking operators to remain competitive in this sector, they must be responsive to corporate standards, and perhaps even broader appeal is needed to captivate the thousands of smaller businesses and professionals who are able to decide where to locate based on their individual needs and values. Coworking is known for its choice amenities and health & wellness features, so it stands to reason that a tenant-focused approach should always include energy-saving and sustainability-focused improvements that yield healthier and more comfortable indoor spaces.
Tenants searching for modern, flexible, and modular offices are finding green leases that account for energy efficiency and sustainability offer a platform to ensure their own corporate goals are met. As Green Lease Leaders and recipients of the 2019 Team Transaction award, Kilroy, CBRE, Cushman & Wakefield, and Allan Matkins made sure not to overlook this. As a green leasing pioneer and one of the inaugural Green Lease Leaders recognized by the Institute for Market Transformation (IMT) and the U.S. Department of Energy’s Better Buildings Alliance in 2014, Kilroy exemplifies how portfolio-wide green leasing is attainable through standardization of lease clauses, adaptability to market trends, and a strong commitment to sustainability.
Download the case study to learn more about Kilroy’s award-winning team transaction and how the deal benefited from standard practices it brings to all leases, such as green building requirements which apply to all tenant fit-outs and hold tenants to high standards of sustainability.