Liberty’s Philadelphia and Delaware Valley Offices’ Commitment to Sustainable Design and Management Contributes to National Recognition and One Million Dollars in Savings
PHILADELPHIA – April 27, 2010 – Liberty Property Trust (NYSE:LRY) has ranked first among US commercial real estate developers for its implementation and measurement of its sustainable property management policy. The international study – Environmental Performance: A Global Perspective on Commercial Real Estate Investors” – was completed by Maastricht University.
The Maastricht University study ranked the best performing publically held United States based commercial real estate companies in the areas of sustainable “Management & Policy” and “Implementation & Measurement” of environmental policy. Liberty ranked first in the category Implementation & Measurement of environmental policy – a full 13 points ahead of the closest competitor - and second in the area of Management & Policy.
“This survey demonstrates that Liberty’s commitment to integrating sustainable design and property management across our portfolio is a day-to-day reality – we ‘walk what we talk’,” said Marla Thalheimer, Liberty’s manager of sustainability. “The results of our efforts not only benefit our shared global environment, but our tenants as well.
In 2008, Liberty established a portfolio-wide Energy Reduction Goal, seeking to save 30% of energy used across the buildings it operates by 2012. It is closely benchmarking energy use in the 160 buildings in which the company controls electric costs and has completed energy audits in nearly 265 buildings across the portfolio.
In 2009, energy-saving steps saved nine million kilowatt hours – equivalent to removing 1,247 cars from the road – with a monetary savings of approximately $1 million.
Delaware Valley Corridor Contributes to Liberty’s Sustainable Approach
Liberty’s Delaware Valley region offices (in Philadelphia, Malvern and Horsham, PA and Marlton, NJ) have been particularly focused on expanding its commitment to sustainable practices. The company has developed or redeveloped a dozen office and industrial buildings – nearly 3.5 million square feet of space – that are either LEED certified or pending certification, such as the 975’ foot high LEED Gold certified Comcast Center, the tallest green building in the United States, and three buildings in the Navy Yard Corporate Center, including the Platinum certified One Crescent Drive.
According to John Gattuso, the Liberty senior vice president and region director who oversaw the development of Comcast Center and is helping to guide the redevelopment of the Philadelphia Navy Yard, “A decade of sustainable design and development experience has taught us to look at the process from a holistic point of view. After developing a diverse number of high performance projects, we have been able to implement sustainable property management practices across our portfolio which has allowed us to better manage energy costs and deliver savings to our tenants. We continue to work to drive down energy usage and increase the implementation of sustainable practices in every project we undertake.”
In the last year, the Delaware Valley offices have completed lighting retrofits with energy-saving fixtures and bulbs, installed real-time energy usage monitoring, launched an energy awareness education campaign with tenants and implemented the use of Green Seal Certified cleaning products. Liberty is using only low/no VOC paints and carpets in renovations and new development and has enhanced its recycling program in its own office and in buildings where it is responsible for waste management.
Liberty Property Trust was one of the earliest adopters of commercial real estate sustainable design and property management, embarking on its first project, a LEED Gold certified office building in Allentown, Pennsylvania (known as The Plaza at PPL), begun in 2001. Since then Liberty has invested more than $1 billion in more than 35 USGBC LEED registered and/or certified sustainable office and industrial buildings, including the 975’ foot high Comcast Center, the tallest green building in the United States.
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
Liberty Property Trust owns and manages more than 16 million square feet of office, flex and industrial property in the Delaware Valley, including more than 150 buildings on campuses such as Great Valley Corporate Center (Malvern), Pennsylvania Business Campus (Horsham), Liberty Walk at East Gate (Marlton) and the Navy Yard Corporate Center (Philadelphia.)
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 2,000 tenants at approximately 750 office, distribution and light manufacturing facilities. The company has received numerous recognitions for its leadership, customer service and commitment to the development of high performance green buildings and was recently named the 2008 NAIOP Developer of the Year. For more information, visit www.libertyproperty.com.
NOTE: Liberty’s LEED certified buildings in the Delaware Valley include:
General Inquiries: John Gatusso, Liberty Property Trust, 216/568-4100
Media Contact: Jenni Pastusak, a.s.a.p.r., 443/944-6285