Richmond Region’s Commitment to Sustainable Property Management Contributes to National Recognition and One Million Dollars in Savings
RICHMOND, VA– April 26, 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.
Richmond Region Contributes to Liberty’s Sustainable Approach
In 2008 the region completed its first LEED Gold Core and Shell (CS) certified building –3901 Westerre Parkway located in Westerre Business Park in Henrico County – marking the first privately owned multi-tenant class A office building developed in Richmond to receive the Gold CS certification.
According to Jay Kraft, Liberty vice president and city manager in the region, “It is a goal of our Richmond region to create facilities which are healthy, environmentally responsible and economically efficient.”
In the last year, Kraft’s team has 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. The team is using only low/no VOC paints, carpets and adhesives, construction waste material recycling and air quality management methods 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. The company embarked on its first project, a LEED Gold certified office building in Allentown, Pennsylvania (now known as The Plaza at PPL), which it began developing 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 five million square feet of office and industrial space in the greater Richmond area.
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.
General Inquiries: Jay Kraft, Liberty Property Trust, 804/934-4300
Media Contact: Margo Hunt Winans, a.s.a.p.r., 757/404-8653