Company Earns Global “Green Star” Top Honors
MALVERN, PA – December 12, 2011 – For the second year in a row, Liberty Property Trust (NYSE:LRY) has ranked in the top three among 64 North and South America-based commercial real estate companies and funds for its environmental and social performance. The international study – “GRESB 2011 Research Report” – was completed by the GRESB Foundation (Global Real Estate Sustainability Benchmark).
The GRESB study ranks commercial real estate companies and funds in North and South America, Europe, Asia and Australia in the areas of Management, Policy & Disclosure, Strategy & Analysis, Monitoring & Environmental Management Systems, Performance Indicators, Certification, and Social Factors.
Equally important, Liberty placed in the top 19% among the340 real estate companies surveyed globally, to qualify for the top honor of being recognized as a GRESB “Green Star."
“The GRESB report is important not only because it helps us understand how our current sustainable practices measure up, but it also provides a tool that helps us identify the areas where we can make additional improvements,” said Marla Thalheimer, Liberty’s manager of sustainability. “We are committed to achieving a sustainable and high performance portfolio that provides extraordinary work environments for our tenants and this report is a valuable resource to help us achieve success.”
Liberty Property Trust was one of the earliest adopters of commercial real estate sustainable design and property management. The company began developing its first project, a LEED ® Gold certified office building in Allentown, Pennsylvania (now known as The Plaza at PPL) in 2001. Since then Liberty has invested more than $1.5 billion in 43 USGBC LEED registered and/or certified sustainable office and industrial buildings, including the 975’ foot high Comcast Center, one of the tallest green buildings in the United States, and the Philadelphia Navy Yard, the only commercial park to include seven LEED registered and certified buildings, earning Certified, Silver, Gold and Platinum certifications from the US Green Building Council.
In the last two years the developer has also received 79 Energy Star certifications for buildings in 14 states.
Focusing on Energy Savings
A major focus of Liberty’s sustainability program is energy efficiency. In addition to the environmental benefits, it is important to the company to help its tenants save money and keep its operating expenses as low as possible. Liberty benchmarks energy use in 100%of its managed buildings using Energy Star Portfolio Manager, and also helps control electric costs using the company’s innovative initiative BWAN (building wide area network) monitoring system. This technology allows property managers to view energy consumption in real time, providing the information needed to find and quickly correct issues such as incorrect settings and energy leaks.
To date, Liberty’s energy reduction efforts have saved more than 30 million kilowatt hours over its 2008 baseline, which is approximately $3.3 million in cost savings passed through to tenants, and a greenhouse gas savings of the equivalent of removing 4,084 cars from the road.
The company has been recognized for its commitment to sustainable design and its positive impact on its tenants’ employees, the environment and its communities, receiving numerous awards for its approach and commitment to sustainability, including: the National Association of Industrial and Office Properties (NAIOP) 2008 Developer of the Year Award, the CoreNet Global 2008 Sustainability Leadership Award for Design & Development and the 2007 NAIOP Green Development Award. The company was also honored with the U.S. Green Building Council’s 2006 LEED Corporate Leadership Award.
About Liberty Property Trust
Headquartered in Malvern, PA, Liberty is dedicated to enhancing people’s lives through extraordinary work environments. The real estate investment trust (REIT) serves customers in the United States and United Kingdom through the development, acquisition, ownership and management of superior office and industrial properties. Liberty's 78 million square foot portfolio offers exceptional locations and flexible design to more than 1,900 tenants at nearly 700 properties. The company is a leader in the development of high performance green buildings. For more information please visit www.libertyproperty.com.
General Contact: Marla Thalheimer, Liberty Property Trust, 610-722-4150
Media Contact: Robbie Tarpley Raffish, a.s.a.p.r., 443-944-9301