Boston, MA – May 2010 Manhattan Software, the global leader in Computer-Aided Facility Management (CAFM), Integrated Workplace Management Systems (IWMS) and Real Estate Investment Trust (REIT) software, along with the IFMA Foundation, have released a white paper entitled The Economics of Sustainability for Commercial Real Estate. This report, written by Kristian Peterson and Ross Gemmill, presents results from a research project which examined why many existing office buildings have not been sustainably retrofitted despite the fact that the economic benefits of reducing operating costs in this way are now known by the majority of real estate professionals.

This latest research paper from the IFMA Foundation provides critical new insight into sustainability for existing buildings. Because it has been predicted that more than 70 percent of buildings that exist today will still be in use 30 years from now, this research is vital not only for commercial real estate, but for the entire real estate industry.

Available free of charge, the report provides an in-depth analysis of this critical issue including:

• A description of the retrofitting process for existing buildings
• The perspective of sustainability from all players involved in commercial real estate
• An economic model that supports analysis of capital improvements
• How to make a business case for investment in energy efficiency improvements
• A case study of the renovation of the Empire State Building, the latest poster child for efficiency improvements in existing buildings.

Peterson and Gemmill, both trained at the MIT Center for Real Estate, interviewed commercial real estate asset managers, property managers, investors, government officials and a developer as the foundation of their research. The resulting findings are important to facility managers who can apply the economic modeling and business case framework to their own real estate portfolio as they are faced with making the economic case for sustainable investments in existing buildings.

“Manhattan has been involved with IFMA as a Corporate Sustaining Partner and supporter for a number of years, and we are excited to sponsor such an important study from the IFMA Foundation for all our global clients, whether corporate, government or REIT professionals,” said Craig Gillespie, CEO of Manhattan Software. “We believe it is an important achievement for the IFMA Foundation and for furthering real estate and facility management scholarship.”

“This is the first of three major research initiatives coming from the foundation this year, and we believe it will be of major interest to our constituency,” said Eric Teicholz, chair of the IFMA Foundation’s Knowledge Management Committee and the IFMA Sustainability Committee. “The report is significant because it provides an overview of the real estate industry, shows how financial decisions affecting sustainability are made, and provides quantitative and qualitative analyses for making decisions related to retrofitting commercial buildings.”

To obtain your complimentary copy of the Economics of Sustainability for Commercial Real Estate, please visit www.ifmafoundation.org (under RESEARCH) or Manhattan’s website, www.manhattansoftware.com.

About Manhattan Software
Manhattan Software is the #1 global full service corporate real estate, facility management, property management and enterprise asset management software company. Manhattan is focused on creating competitive advantage for its clients. Manhattan Software offers two product suites: Manhattan, an Integrated Workplace Management Solution (IWMS) and CenterStone, the leading Computer Aided Facility Management (CAFM) software product. As an integrated suite of products, Manhattan improves clients’ performance by enabling seamless management of all aspects of their real estate operations and portfolio. Manhattan is an advanced, web-based real estate lifecycle solution that readily integrates into an organization’s existing infrastructure.

For additional information, visit www.manhattansoftware.com or contact Nancy J. Sanquist, Vice President of Marketing, at (858) 699 0827.

About the IFMA Foundation
Established in 1990 as a nonprofit 501(c)(3) corporation and separate entity from IFMA, the IFMA Foundation works for the public good to promote priority research and educational opportunities for the advancement of facility management. The IFMA Foundation is supported by the generosity of the facility management community, including IFMA members, chapters, councils, corporate sponsors and private contributors who are united by the belief that research and education improve the facility management profession. To learn more about the good works of the IFMA Foundation, visit www.ifmafoundation.org. To join and follow the IFMA Foundation’s social media outlets online, visit the foundation’s LinkedIn, Facebook, YouTube and Twitter pages.