Upgrade, go green, old building owners urged

SunStar Publishing Inc.

OWNERS of older office buildings will need to upgrade and inject sustainable features into their facilities to compete for quality tenants and lure employees back after months or years of remote working.In a competitive business environment, officials of property consulting firm KMC Savills on Thursday, Oct. 19, 2023, said office refurbishments are expected to help retain and attract new tenants.

He said buildings that are more than two years old and are Leadership in Energy and Environmental Design or Leed Gold certified, for example, are running at roughly 90 to 95 percent occupancy, while the rest of the markets are experiencing as low as 80 percent occupancy.Leed Gold-certified buildings meet energy, lighting, water, and material standards and employ sustainable strategies.

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