Tenants in green buildings experience increased productivity and fewer sick days, says a survey. According to the study conducted by the University of San Diego and commercial real estate broker CB Richard Ellis Group, green buildings have lower vacancy rates and higher rents than non-green counterparts, reports Chris Palmeri of Business Week.
Respondents of the survey said that an average of 2.88 fewer sick days in their current green office versus their previous non-green office. About 55 percent of respondents indicated that employee productivity had improved. The study also found that tenants in green buildings are more productive based on two measures: the average number of tenant sick days and a productivity change.
The increase in productivity translated into a net impact of about $20 per square foot. The study also showed that green buildings have 3.5 percent lower vacancy rates and 13 percent higher rental rates than the market. Based on the average tenant salary, an office space of 250 square feet per worker and 250 workdays a year, the decrease in sick days translated into a net impact of nearly $5.00 per square foot per year. The economic impact of the total green construction market from 2000 to 2008, the study found, was $178 billion. It created or saved 2.4 million jobs and generated $123 billion in wages.
Source: Silicon India