Real estate managers heed call from the great outdoors

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In another project across the pond, LaSalle’s 60 London Wall project, which was acquired on behalf of the $308.6 billion California State Teachers’ Retirement System, West Sacramento, features terraces on five upper floors of a 10-floor building designed around a single atrium. Completed in November, the mixed-use building in downtown London also has a green roof with abundant plant life.

“The outdoor space is everyone’s favorite space,” Mr. Gordon said.

Some preference for open spaces is cultural, he said. In Germany, buildings are required to have windows that can be opened, Mr. Gordon said. In other parts of the world, such as the U.S. and Japan, buildings are not required to have windows that can be opened, he said. Instead, developers and real estate owners are choosing to apply for healthy-building certifications such as a BREEAM rating in the U.K. or a LEED rating in the U.S., and awards to highlight their approach and lure tenants.

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