THE “GREENING” OF LEASES

As a result of increasing energy costs and heightened environmental awareness, sustainable building operations and management practices are being implemented that make sense both from a business and environmental perspective. In addition, we are seeing cities (e.g., Dallas, San Francisco, Atlanta (2009)) enacting ordinances requiring LEED® (or equivalent) certification for new commercial construction, not just municipal facilities. Compliance requires cooperation of not only owners of commercial properties but also their tenants. Thus, business owners will want to evaluate the need for specific provisions in leases to enable the owner to achieve its objectives as well as comply with new laws and regulations. Smith, Gambrell & Russell has been involved in advising owners and tenants with respect to these types of provisions. Contact Steve O'Day for further information.

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