FOR IMMEDIATE RELEASE
Contact: Chris Potter, 202-525-2883 x.311 / chris@imt.org
A NEW PROGRAM RECOGNIZES BROKERS AND COMPANIES THAT ARE SETTING THE BAR FOR USING GREEN LEASING TO SAVE ENERGY IN COMMERCIAL BUILDINGS.
Washington, DC–May 6, 2014–Today, the Institute for Market Transformation (IMT) and the U.S. Department of Energy’s (DOE) Better Buildings Alliance are proud to honor the inaugural Green Lease Leaders. The new recognition program, developed with support from leading real estate practitioners, distinguishes property owners, tenants, and brokers who are effectively using the lease as a tool to save energy in commercial buildings.
Those selected met the requirements of the Green Lease Leader program by incorporating lease clauses that improve sustainability on many fronts such as; allowing for sharing of the costs of energy-saving improvements,ensuring tenants build out to green standards, increasing transparency by sharing access to energy consumption data and ENERGY STAR scores between tenants and landlords, and encouraging cooperation on environmental initiatives.
Historically, real estate owners and tenants have had difficulty integrating sustainability into the lease process due to tension between owners and tenants over responsibilities and cost-sharing arrangements. The Green Lease Leaders program is helping to break through these barriers by proving that a wide variety of companies are already incorporating green lease language into their portfolio, and by demonstrating replicable solutions that can be employed by others.
“Liberty Property Trust is honored to be named a 2014 Green Lease Leader. Within our efforts to develop high-performance buildings and maintain healthy, productive work environments, the lease plays an important role by laying the groundwork and ensuring a win-win outcome with the tenants,” said Marla Thalheimer, Director of Sustainability for Liberty Property Trust. “We thank IMT and the Better Building Alliance for the creation of this valuable program and for recognizing our commitment to sustainability through leasing.”
The Green Lease Leaders recognized today own or manage 400 million square feet of combined property and have buildings on four different continents. Their green leasing strategies have been applied across nearly every major property type, including offices, retail space, and manufacturing sites. These organizations also comprise a diverse group, with winners ranging from regional owners like Akridge and Unico Properties, to national and international full service firms such as Liberty Property Trust, Kimco Realty Corporation, and Canada’s Oxford Properties Group (the only non-US based company in this year’s selection).
The changes that this year’s Green Lease Leaders implemented to their standard lease language serve as bright examples for companies and brokers that remain on the fence about the viability of green or energy-efficient leases in the marketplace. Organizations and brokers can now point to more than a dozen major landlords and tenants as proof of a powerful and growing trend, and can start a meaningful conversation with stakeholders.
“Because of this recognition program, brokers, landlords, and tenants now have a blueprint for writing leases that remove impediments to efficiency and align interests so landlords and tenants both benefit from improving building performance. IMT and the Better Buildings Alliance are proud to see that many of today’s Green Lease Leaders are using the lease transaction to lay the foundation for working together to boost sustainability on a major scale,” said Cliff Majersik, Executive Director for IMT.
New efficiency technology is playing an important role in driving more awareness about the energy we use in our buildings. However, without executing strategies like green leasing that address behavioral and market-based barriers to energy efficiency, the potential to achieve maximum savings or reductions in energy use and operating costs won’t be realized.
“As a contractual arrangement, the lease is a powerful tool to help landlords and tenants increase building energy efficiency. The Green Lease Leaders recognized today are redefining the role that leasing space can contribute to the triple bottom line and setting a standard for the industry,” said Kristen Taddonio, Manager of DOE’s Better Buildings Alliance.
The Green Lease Leaders are using these previously unrecognized strategies to significantly reduce electricity and water consumption, improve tenant comfort, and allow for better control of operating expenses—all while minimizing wasted energy. These organizations are paving the way to sustainable landlord-tenant relationships and we are proud to offer congratulations and a round of applause to this year’s Green Lease Leaders.
2014 Green Lease Leaders:
- Akridge
- Brandywine Realty Trust
- The Bullitt Foundation
- Empire State Realty Trust
- Government Properties Income Trust
- Jamestown, L.P.
- Kilroy Realty Corporation
- Kimco Realty Corporation
- Liberty Property Trust
- Oxford Properties
- PricewaterhouseCoopers, LLP (PwC)
- Regency Centers
- The Tower Companies
- Unico Properties
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ABOUT THE INSTITUTE FOR MARKET TRANSFORMATION
The Institute for Market Transformation (IMT) is a Washington, DC-based nonprofit organization dedicated to promoting energy efficiency, green building, and environmental protection in the United States and abroad. Much of IMT’s work addresses market failures that inhibit investment in energy efficiency.
ABOUT THE BETTER BUILDINGS ALLIANCE
The Better Buildings Alliance is a U.S. Department of Energy (DOE) effort to promote energy efficiency in U.S. commercial buildings through collaboration with building owners, operators, and managers. Members of the Better Buildings Alliance commit to addressing energy efficiency needs in their buildings by setting energy savings goals, developing innovative energy efficiency resources, and adopting advanced cost-effective technologies and market practices.