Should LEED Certified Buildings Command a higher lease rate?

Just 2 years ago, the South Florida Branch of the USGBC would meet monthly and discuss the virtues of LEED certified buildings without one LEED building yet completed in Miami Dade County. I believe the very first LEED certified building was a single tenant retail store on Biscayne Blvd.
Now we have several LEED certified buildings in our office inventory. The most prominent being the new office towers, Well Fargo Center, 1450 Brickell, and Miami Green. There are also several LEED certified EBOM, or Existing buildings, where certification is earned when retrofitting and establishing new operational practice. Both forms of certification require a commitment by the building owner to pay a premium for certification. They both require a commitment to bring together a team of designers, builders, engineers, and property management to follow through. Although the cost is going down there is undoubtedly a premium to building to a LEED certification standard. LEED building certification promised a better building with higher operating efficiencies.
A building owner should be rewarded for this commitment. We do not have enough history in the South Florida market to substantiate whether or not LEED certified buildings are bringing their owners the rewards promised by doing the right thing.
South Florida needs data to substantiate the original claims of the USGBC. Other parts of the country where LEED certified buildings are the norm have done a good job of documenting higher lease rates, lower vacancy rates, and therefore higher rates of return for the building owners. Tenants occupy a healthier space that has monitored air quality, more day-lighting, increased control of temperature, usually increased space efficiency (more comfortable people in less space), while making less of an environmental impact. For companies that have Corporate Responsibility Statements, leasing in a LEED certified building is almost a mandate.
The Commercial Real Estate Community needs to take a leadership role in promoting this space to prospective tenants. In the 3 new office towers in Dade County, the LEED certification is just a by-line. It is the job of the Tenant Representatives and Landlord Representatives to promote the LEED certification as a real and tangible benefit to the tenants.

LOUISE BENDIX,LEED-AP | Office Leasing Specialist
ComReal Miami, Inc.|Commercial Real Estate Services
366 Altara Ave., Suite 102 | Coral Gables, FL 33146
T 786-433-2376 | F 888-316-6818
lbendix@comreal.com | www.LouiseBendix.com