Many Miami real estate investors are doing their part to ward off global warming and save energy as the city ranked high for green commercial real estate.
A new study by CBRE Group and Maastrict University ranked Miami ninth in the nation, with 19.4 percent of its commercial real estate certified as green. There are 79 buildings totaling 21 million square feet of office space with either U.S. Green Building Council LEED certification or Energy Star labels.
Given that South Florida would be among the first places in the nation to be swamped by sea level rise, that’s a helpful move.
“Miami was slow to embrace green building standards relative to cities like San Francisco and Manhattan, but has caught up quickly thanks in part to good public policy and buy-in from owners and investors who realize there is growing demand from tenants for more sustainable, energy efficient space,” said Patricia Nooney, LEED AP, who leads investor services for CBRE Florida, in a news release.
In fact, Miami’s municipal code requires all new private development over 50,000 square feet to achieve LEED Silver certification.
The study rated Minneapolis as the greenest city for commercial real estate, with 77 percent of buildings certified as green.
Since 2005, the number of LEED certified buildings has increased more than 1,000 percent nationwide.
Florida homeowners are also going green. A recent study by the USGCB ranked Florida seventh for the most LEED-certified homes, with 1,860. California was first, with 9,186.