Award Marks First Mendenhall Property to Receive Distinguished Designation
CHARLOTTE, NC – June 22, 2010 – Liberty Property Trust (NYSE:LRY) today announced that has received an Energy Star rating for its building located at 4020 Meeting Way in High Point. The company will display an Energy Star plaque in the entrance of the building.
The Energy Star logo is familiar to most consumers as it marks items such as refrigerators, light bulbs and washing machines as “energy efficient.” On a larger scope, the label is validation that the building is energy efficient. Properties are judged in comparison to similar buildings nationwide, and those that receive a score of 75 points or more (out of 100) using the EPA’s national energy performance rating system are honored with the designation. The rating system accounts for the impact of year-to-year weather variations, as well as building size, location, and several operating characteristics.
The property, developed in 2001 by Liberty in the Mendenhall Business Park and leased to Phoenix Academy, was nominated for the award by the charter school.
“We thank Phoenix Academy for participating in the Energy Star program and for being energy conscious,” said Massie Flippin, vice president and city manager for the Carolinas region. “We hope that more of our tenants will follow suit and be inspired to make some minor changes to their daily operating practices, which in turn can make a major difference in energy consumption.”
To be classified as Energy Star the facility had to rank in the upper 75th percentile of all comparable K-12 schools in the nation based on its energy use and size. Currently the facility has a rating of 82 and the charter school has decreased its energy use by 10.4% from its baseline established in January of 2008.
Energy Star was introduced by EPA in 1992 as a voluntary, market-based partnership to reduce air pollution through increased energy efficiency. Today, in partnership with the Department of Energy, the program offers businesses and consumers energy efficient solutions to save energy, money and help protect the environment for future generations. More than 17,000 organizations have become Energy Star partners and are committed to improving the energy efficiency of products, homes and businesses.
About Liberty Property Trus
Liberty Property Trust owns and manages more than 4.8 million square feet of office and industrial space in the Carolinas. The company is headquartered in Malvern, PA and 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 700 office, distribution and light manufacturing facilities. The company is a leader in the development of high performance green buildings. For more information please visit www.libertyproperty.com.
General Inquiries: Massie Flippin, Liberty Property Trust, 704/426-8000
Media Contact: Margo Hunt Winans, a.s.a.p.r., 757/404-8653