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New York & Tri-State  + New York  + Finance  | 
CBRE: Seattle #7 in U.S. for Office Building LEED Certification

Green Energy-Related Leasing Accelerates in Manhattan 

Energy-related leasing in New York City is growing as the state commits over $55 billion to source 70% of its power from renewable energy by 2030, according to CBRE’s report. The trend is attributed to green energy companies expanding operations to capitalize on the state’s green energy transition, access to talent, and improved investment climate.  

A record 13 energy-related firms, including nine renewable companies, signed leases in 2022. In 2023, eight energy-related firms, all renewable, signed NYC leases. Energy-related investment leasing reached 165,000 sq. ft. across 10 transactions in 2023, reflecting the state’s advancing energy transition programs. 

“These are the early days, but energy-related leasing is definitely a growing trend to keep a close eye on over the next few years,” said CBRE’s Ben Friedland. 

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Ben Friedland

About Emily Fu

Emily Fu is Content Director of Connect Commercial Real Estate, where she covers the east coast markets, including New York, Boston & New England, and DC & Mid-Atlantic markets. She produces daily news stories as well as longer-form content, ranging from Q&As to thought-leadership pieces. She also writes feature stories for Connect Money. With previous stints at Reuters, Seeking Alpha, and Commercial Observer, Emily has covered the finance side of the commercial real estate industry, technology, media, telecom (TMT), and fashion. She attended the Columbia Graduate School of Journalism and currently resides in Manhattan.

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