Kilroy Realty Corporation Earns Two Green Lease Leaders Team Transaction Awards
July 01 2016 - 7:02PM
Business Wire
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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version on businesswire.com: http://www.businesswire.com/news/home/20160701005918/en/
Kilroy Realty CorporationSara NeffSenior Vice President,
Sustainability310-481-8449sneff@kilroyrealty.com
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