There’s a growing clamor for industries to lessen their carbon footprint and the impact they make on the environment. In the commercial real estate sector, for instance, many developers are now embracing eco-friendly practices, with sustainability figuring in ongoing and future projects.

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An example is getting LEED certification. Securing a LEED certification has become a standard practice of many commercial real estate developers in the U.S. LEED certification is awarded only to new and renovated office buildings adopting the best practices in energy, lighting, air quality, and water conservation.

Tenant expectations also play a vital role in making sustainable commercial spaces mainstream. This is because sustainability has been ingrained in the corporate culture by multiple major companies around the world. In fact, tenants are even willing to pay higher costs for green features.

The government, through the IRS, also rewards establishments that support sustainability by offering tax deductions for energy-efficient retrofits. Likewise, the federal Solar Investment Tax Credit provides 30 percent tax credit for solar systems on commercial properties. Other offices such as the U.S. Office of Energy Efficiency and Renewable Energy also offer tax credits, abatements, bond financing, grants, as well as rebates.

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Even though the upfront costs of developing sustainable facilities are much higher than traditional building expenses, it has been demonstrated that sustainable buildings offer marketing, cultural, staffing, and investor advantage.

Randy Benderson is the president of Benderson Development, a venture his father Nathan Benderson established in New York over 60 years ago. The company has a portfolio of over 500 properties that translates to 35 million square feet in 38 states. For more insights on commercial real estate development, visit this blog.