Energy Bill: Greater Transparency or Higher Cost for Commercial Real Estate?
	Sustainable Design Helps Seal Deal for New Office Lease in Los Angeles County
	100 Park Avenue Achieves LEED Silver

If landmark energy legislation is signed into law this year, the impact on commercial real estate could be a burden or a boon, depending on your point of view. With the American Clean Energy and Security Act of 2009 sponsored by Henry Waxman (D–Calif.) and Edward Markey (D–Mass.) clearing the U.S. House of Representatives on June 26, the potential for passage is gathering steam. The U.S. Senate is poised to take up the bill when it returns to work after Labor Day.

“Jones Lang LaSalle supports government measures that encourage companies to maximize the energy efficiency of their facilities, and that enhance transparency and consistency in the measurement and reporting of energy use and greenhouse gas emissions,” said Dan Probst, chairman of energy and sustainability services for Chicago-based brokerage Jones Lang LaSalle, in a prepared statement. “Moreover, the bill as it currently stands offers financial incentives for energy retrofits to help owners achieve sustainable goals.”

In a clear sign that green buildings play a critical role in site selection and lease negotiations, Advanced Bionics has agreed to take 146,385 sq. ft. at Summit Oaks, a newly constructed Class-A office building in Santa Clarita that has earned LEED Silver certification. The 10-year deal is the largest new office lease in Los Angeles County so far this year.

The five-story building is in a prime location at the entrance to Valencia Gateway, Los Angeles County’s largest master-planned development for business technology and industry. Advanced Bionics, a manufacturer of cochlear implants for people with profound hearing loss, will take the entire space. The company is consolidating two locations into the new space and will begin the move-in process during the third quarter of this year.

SL Green Realty Corp.’s 100 Park Avenue, the 1950s completely redeveloped trophy tower across from Grand Central Terminal, has officially achieved LEED silver certification from the U.S. Green Building Council.

“Since completion of its redevelopment, [100 Park Avenue] has experienced unprecedented success and recognition as a trophy property within the SL Green portfolio,” says Edward Piccinich, executive vice president of SL Green. “There's no doubt that our recent renovation of the property certainly served as a vehicle for renewed interest and public attention.”