Effect of CASBEE and Tokyo metropolitan government top level certificates on the net operating income and ulitily expenses in j-reit owned office buildings

The purpose of this research is to evaluate the situation of Top-Level Business Facility and CASBEE certified buildings by using the data of j-reit owned office buildings. Regarding the objective office, the total leased area is under 50000 m2 and total building area is over 10000m². The net operating income of Top-Level Business Facility and CASBEE certified office buildings is bigger than that of not certified office buildings. The utilities cost of Top-Level Business Facility certified office buildings is the same as that of not certified office buildings, but the utilities cost of CASBEE certified office buildings is bigger than that of not certified office buildings. The net operating income of expired CASBEE certified office buildings is bigger than that of not certified office buildings. The utilities cost of expired CASBEE certified office buildings is the same as that of not certified office buildings. Using these results, the environmental performance of Top-Level Business Facility certified office buildings and expired CASBEE certified office buildings may be high in the value of the real estate.