Retailers across the nation are making subtle changes to the way they operate. With a focus on improved energy performance that subsequently leads to savings, many retailers are retrofitting existing buildings or implementing specific, new sustainable criteria in newly designed buildings that not only increase the building's value and sustainability, but also attract investors who see more marketability in sustainable project design.
A recent rating system put forth by the U.S. Green Building Council (USGBC), the LEED for Retail rating system covers two specific areas that provide sustainable business models for the retail industry: New Construction & Major Renovations, and Commercial Interiors Rating Systems. LEED for Retail provides guides and protocol for the design and construction of high-performance retail sustainable buildings. The LEED for Retail rating system considers various areas such as customer and office traffic, water efficiency, energy usage, indoor environmental quality, and lighting.
While the LEED for retail system is still relatively new, it is already having a noticeable affect on the retail marketplace, especially when adopted by larger retailers whose adherence to the LEED for retail system also impacts the manufacturers of the products in stock. Retailers and developers who satisfy a number of the above prerequisites receive a certification. The Certified, Silver, Gold, and Platinum levels are dependent upon how many of the criteria have been met.
Commercial retail developers are also attracted to the business model in an effort to stay ahead of the competition. A national survey on Green Building published by National Real Estate Investor revealed that 90% of commercial retail investors responded that they have plans to own, lease, or manage some form of green building or real estate within the next five years.
There are of course many green benefits provided by a green retail as well not just for the investor, but also for the retailer and the environment. Energy efficiency, sustainable site development, and water efficiency all serve to reduce costs and operating expenses, put less of a footprint on the environment, and improves public image in the eyes of consumers.
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