Factoid Friday: How much green office space is there in San Diego?
Over 18 million square feet, according to a recent report by the brokerage firm CBRE. The top 3 areas in San Diego for green office buildings are: Downtown with 7 million square feet, University Towne Centre with 3.2 million and Mission Valley with 2.1 million.
What exactly constitutes “green” office space? Typically, structures that are certified under the Energy Star or U.S. Green Building Council’s Leadership in Energy and Environmental Design (LEED) program are considered to be “green”.
In addition to green office space being more energy efficient, recent real estate trends indicate it might also be a new hot commodity in our region. Overall vacancy rates for non-green buildings in San Diego are higher –about 15.7% compared to 11.7% for green buildings. Moreover, green buildings yield higher rent prices. The average rental rate for green spaces is $2.42 per square foot, compared with $2.04 for non-green buildings.