LOS ANGELES--(BUSINESS WIRE)--
Kilroy Realty Corporation (KRC) announced today that it has earned the Green Lease Leader designation from the Institute of Market Transformation (IMT), a non-profit organization that promotes energy efficiency within the real estate industry. The new recognition program, developed with support from leading real estate experts, distinguishes property owners, tenants, and brokers who are effectively using lease agreements as a tool to save energy in commercial buildings. KRC is among 14 companies, spanning over 400 million square feet of real estate, that have been recognized as a 2014 Green Lease Leader.
“Kilroy Realty Corporation is proud to be named a 2014 Green Lease Leader. Incorporating environmental language into our lease agreements helps ensure that tenant and landlord environmental interests are aligned, which allows us to deliver sustainable, high quality, adaptable and productive work environments to our tenants,” says Janelle Strand, Vice President, Training and Quality Control. “We are honored to work with IMT and the Better Building Alliance to help making green leasing a standard best practice across our industry.”
The inaugural class of Green Lease Leaders will serve as examples to the real estate community of a growing trend to align leases with real estate sustainability goals. Their work will be a blueprint for other landlords, brokers and tenants that wish to incorporate similar language into their own leases.
The award winners, including KRC, were recognized at an awards ceremony in Washington, D.C. on May 7, 2014.
About the Institute for Market Transformation
The Institute for Market Transformation (IMT), founded in 1996, 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.
About Kilroy Realty Corporation
With more than 65 years’ experience owning, developing, acquiring and managing real estate assets in West Coast real estate markets, Kilroy Realty Corporation (KRC), a publicly traded real estate investment trust and member of the S&P MidCap 400 Index, is one of the region’s premier landlords. The company provides physical work environments that foster creativity and productivity, and serve a roster of dynamic, innovation-driven tenants, including technology, entertainment, digital media and health care companies.
At March 31, 2014, the company’s stabilized portfolio totaled 13.3 million square feet of office properties, all located in the coastal regions of greater Seattle, the San Francisco Bay Area, Los Angeles, Orange County and San Diego. 41% of the company’s properties were LEED certified and 55% of the eligible properties were Energy Star certified. In addition, KRC has approximately 2.5 million square feet of new office development under construction with a total estimated investment of approximately $1.5 billion. More information is available at http://www.kilroyrealty.com.
Forward-Looking Statements. This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are based on our current expectations, beliefs and assumptions, and are not guarantees of future performance. Forward-looking statements are inherently subject to uncertainties, risks, changes in circumstances, trends and factors that are difficult to predict, many of which are outside of our control. Accordingly, actual performance, results and events may vary materially from those indicated in forward-looking statements, and you should not rely on forward-looking statements as predictions of future performance, results or events. Numerous factors could cause actual future performance, results and events to differ materially from those indicated in forward-looking statements, including, among others, risks associated with: investment in real estate assets, which are illiquid; trends in the real estate industry; significant competition, which may decrease the occupancy and rental rates of properties; the ability to successfully complete acquisitions and dispositions on announced terms; the ability to successfully operate acquired properties; the availability of cash for distribution and debt service and exposure of risk of default under debt obligations; adverse changes to, or implementations of, applicable laws, regulations or legislation; and the ability to successfully complete development and redevelopment projects on schedule and within budgeted amounts. These factors are not exhaustive. For a discussion of additional factors that could materially adversely affect our business and financial performance, see the factors included under the caption “Risk Factors” in our annual report on Form 10-K for the year ended December 31, 2013 and our other filings with the Securities and Exchange Commission. All forward-looking statements are based on information that was available, and speak only as of the date on which they are made. We assume no obligation to update any forward-looking statement made in this press release that becomes untrue because of subsequent events, new information or otherwise, except to the extent required in connection with ongoing requirements under U.S. securities laws.
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