Landmark Study Finds Increased Productivity, Lower Vacancy and Higher Rents in Green Buildings

Results Based on Research by University of San Diego and CB Richard Ellis Group,
Inc.
PHOENIX--(Business Wire)--
A landmark studyconducted by the University of San Diego and CB Richard Ellis
Group, Inc. (CBRE) has found that tenants in green buildings experience
increased productivity and fewer sick days, and that green buildings have lower
vacancy and higher rental rates. The report, Do Green Buildings Make Dollars and
Sense?, is the product of a year-long research effort and is the largest study
of its kind to date.

The research was overseen by Dr. Norm Miller, academic director and professor at
the University of San Diego`s Burnham-Moores Center for Real Estate and was
conducted in collaboration with CBRE`s national director of sustainability, Dave
Pogue, and Ray Wong, CBRE`s director of Americas research. The report`s
preliminary findings will be made public on Friday (November 13) at the annual
Greenbuild Conference in Phoenix and the full study is expected to be published
later this year.

Additionally, the research found that tenants in green buildings are more
productive, based on two measures: the average number of tenant sick days and
the self-reported productivity change. Respondents reported an average of 2.88
fewer sick days in their current green office versus their previous non-green
office, and about 55% of respondents indicated that employee productivity had
improved. 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 occupied, and the increase in
productivity translated into a net impact of about $20 per square foot occupied.

The study additionally showed that green buildings have 3.5% lower vacancy rates
and 13% higher rental rates than the market.

"The results of this project are beginning to demonstrate the very real and
positive impact of sustainable buildings for both our owners and tenant
occupants. We have been seeking ways to make an empirical case for the economic
benefits of sustainable practices and the results of this study exceeded our
expectations," said Mr. Pogue.

The research effort surveyed 154 buildings under CBRE`s management, totaling
more than 51.6 million square feet and housing 3,000 tenants in ten markets
across the U.S. The study defined a green building as those with LEED
certification at any level or those that bear the EPA ENERGY STAR label. All of
the ENERGY STAR buildings in the survey group had been awarded that label since
2008. Most of the buildings included in the research had also adopted other
sustainable practices like recycling, green cleaning and water conservation.

"This is an exciting time for the commercial real estate industry where great
values and great investment upgrade opportunities coexist. This window won`t
last forever," said Dr. Miller. "We have now confirmed in this and other studies
that green features and energy savings pays off. Tenants care about healthy
energy efficient buildings. We also know that green leases and managing to a new
and higher standard will soon become the norm. Commercial real estate players
have no choice but to learn how to be better in a sustainable way. We know the
economics of green will drive the market, not altruism or concern about global
warming,"

The survey also indicated that 18% of tenants are willing to pay more for green
space, and that tenants believe healthy indoor environments positively impact
staff retention (61%) and client image (70%). Additionally, 71% of respondents
felt that green lease provisions are increasingly important. According to the
study, each additional point of ENERGY STAR rating saved 0.8-1.0% in electricity
and separate metering yielded a 21% energy savings, more than any other factor.
These findings are generally consistent with other research on this topic, which
has determined buildings with the ENERGY STAR label, LEED certification or other
identified sustainable programs generally perform better.

CBRE was recently ranked among Newsweek`s top 50 greenest large companies in
America. The U.S. Environmental Protection Agency has named CBRE an ENERGY STAR
Partner of the Year for the past two years, the only commercial real estate
services firm so recognized with that award. The U.S. Green Building Council
(USGBC) has awarded CB Richard Ellis its Leadership Award for Organizational
Excellence and the industry group, CoreNet, recognized CBRE with a special
commendation for Sustainable Leadership and Design - Development.

About CB Richard Ellis

CB Richard Ellis Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company
headquartered in Los Angeles, is the world`s largest commercial real estate
services firm (in terms of 2008 revenue). The Company has approximately 30,000
employees (excluding affiliates), and serves real estate owners, investors and
occupiers through more than 300 offices (excluding affiliates) worldwide. CB
Richard Ellis offers strategic advice and execution for property sales and
leasing; corporate services; property, facilities and project management;
mortgage banking; appraisal and valuation; development services; investment
management; and research and consulting. CB Richard Ellis has been named a
BusinessWeek 50 "best in class" company for three years in a row. Please visit
our Web site at www.cbre.com.

About Burnham-Moores Center for Real Estate

Founded in 1993, the University of San Diego`s Burnham-Moores Center for Real
Estate is committed to delivering outstanding education, industry outreach, and
career and research services to advance socially responsible leadership in the
real estate profession. As part of the University`s School of Business
Administration, the Center offers a Master of Science in Real Estate degree, an
undergraduate minor in real estate, a Certificate in Real Estate Finance,
Investments and Development, a Certificate in Land Use and Sustainable Community
Development and several major industry conferences throughout the year. For more
information, visit www.usdrealestate.com.

CB Richard Ellis Group, Inc.
Robert McGrath, 212-984-8267
Robert.mcgrath@cbre.com

Copyright Business Wire 2009