JLL Suggests that Energy Efficiency Can Be a CRE Operating-Cost Advantage
Why this matters
Office continues to trade in two distinct markets: trophy assets in walkable submarkets that are leasing at or near record rents, and commodity Class B and C buildings where the basis is still resetting. Underwriting on the latter has moved toward replacement-cost-minus, with credit underwriting now leaning on tenant covenant and remaining lease term rather than mark-to-market expectations. For LP-positioned capital, the read-through is that the bifurcation is now a structural feature of the sector, not a cycle to wait out.
Editorial analysis · Real Estate Trail Editorial
On the RET wire
- Disclosed office deal value tracked in September 2026: $13.3B across 62 reported transactions. All Office coverage →
- 190 stories mentioning JLL on the wire in the past 90 days. JLL coverage →
Computed from Real Estate Trail’s own tracked coverage
What was once considered an effort for sustainability is now an essential part of the commercial real estate operating budget. The main reason is money. A recent JLL article reported that the most efficient office bui…
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