Kilroy Realty Corporation (NYSE: KRC) announced today that
the Institute of Market Transformation (IMT) recognized KRC with two
Green Lease Leaders Team Transaction awards at the annual BOMA
International Conference & Expo in Washington, D.C.
Green Lease Leaders, now in its third year, was established by IMT, a
nonprofit organization that promotes energy efficiency in buildings, and
the U.S. Department of Energy’s Better Buildings Alliance. This year,
Green Lease Leaders represented portfolios that totaled 350 million
square feet, bringing the cumulative floor area of all Green Lease
Leaders to over 1 billion square feet.
“Through the tenant and landlord relationship, Green Lease Leaders are
creating a real opportunity to improve building energy performance, and
using the lease as a powerful tool to help both parties achieve energy
savings,” says Dr. Kathleen Hogan, Deputy Assistant Secretary for Energy
Efficiency, U.S. Department of Energy, who gave out the awards at the
BOMA conference. “We are excited to recognize the leadership of these
companies for spurring collaborative partnerships and helping make green
leasing a standard practice in the marketplace.”
Brand new to this year’s Green Lease Leaders is the Team Transaction
award, which was created to recognize deals where all parties come
together to push the boundaries of energy efficiency in commercial
space. In the Large Transaction category, IMT recognized KRC’s lease
with Dropbox, Inc for its LEED Platinum 333 Brannan Street building in
San Francisco. CBRE and Allen Matkins were also recognized for their
work on the transaction. In the Small Transaction category, KRC received
recognition for its lease with YuMe, Inc at its ENERGY STAR Certified
Westside Media Center campus in Los Angeles. LA Realty Partners and
Allen Matkins were also recognized for their work on this transaction.
“We are thrilled to build on the green leasing efforts that IMT
recognized in 2014 when we joined the inaugural class of Green Lease
Leaders,” says Sara Neff, Senior Vice President of Sustainability at
KRC. “The Team Transaction Award allows us to highlight the important
work of our tenants, brokers, and legal team in our green leasing
efforts.”
A green lease, also known an energy-aligned lease, breaks boundaries set
by traditional leases, helps owners and tenants lower their operating
costs, and opens the door to deeper savings on utilities. IMT estimates
that green leases have the potential to reduce utility bills by up to
$0.51 per square foot (11-22 percent), which would provide over $3
billion in annual cost savings to the U.S. office market.
About the Institute for Market Transformation. The
Institute for Market Transformation (IMT) 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 Kilroy Realty Corporation. With almost 70 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 serves a broad roster of dynamic, innovation-driven
tenants, including technology, entertainment, digital media and health
care companies.
At March 31, 2016, the company’s stabilized portfolio totaled
13.7 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. The company is recognized by GRESB
as the North American leader in sustainability, ranking first among
155 North American participants across all asset types. At the end of
the first quarter, the company’s properties were 46% LEED certified and
66% of eligible properties were ENERGY STAR certified. In addition, KRC
had approximately 905,000 square feet of office and residential projects
under construction with a total estimated investment of approximately
$645.0 million. 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, 2015
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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