ROCKVILLE, Md., June 27, 2018 /PRNewswire/ -- Federal Realty
Investment Trust (NYSE: FRT) was named a Green Lease Leader,
Landlord Gold Recognition, at the BOMA International Conference in
San Antonio, TX. Now in its fifth
year, Green Lease Leaders was established by the Institute for
Market Transformation (IMT) and the U.S. Department of Energy's
Better Buildings Alliance to recognize leading-edge companies and
real estate practitioners who break down barriers to
high-performance buildings by revolutionizing the lease to
incorporate energy efficiency and sustainability. Federal Realty is
proud to be among those to receive this designation in 2018.
"Federal Realty is honored to be recognized as a 2018 Green
Lease Leader. Our green leases are an essential component of our
business operations and have helped us integrate our sustainability
goals into the way we operate our properties, providing our tenants
with additional opportunities to pursue their own environmental
objectives," said Ron Becker, CRX,
CSM, Director of National Property Operations and Sustainability at
Federal Realty. "Through this aligned partnership, we minimize our
impact on the environment with initiatives like solar photovoltaics
and water use reduction while generating operational cost savings
that benefit both the landlord and tenant. Proudly, our
sustainability commitment flows throughout our organization as we
work side by side with our tenants to help realize their goals; the
results are a win for our tenants, our customers and Federal
Realty."
Green leasing, also known as "energy-aligned" or
"high-performance" leasing, is a powerful and growing real estate
trend that provides a win-win framework for landlords and tenants
to invest in and benefit from energy efficiency and sustainability
improvements—standard leases have historically been a roadblock to
greater investment and action on efficiency. A green lease
agreement guarantees that environmental measures are taken by
landlords and tenants, and it acts as both a catalyst and safeguard
for achieving goals and savings for both parties. Green leasing has
also been shown to unlock efficiency improvements that help lower
operating expenses, increase return on investment, and lead to more
healthy and efficient spaces that are attractive to employees and
customers, among other benefits.
Since 2015, green leasing has been widely adopted throughout
Federal Realty's portfolio. The company's leases contain clauses
that primarily focus on shopping center operations and maintenance
issues such as chemical use, indoor air quality, energy efficiency,
water efficiency, recycling programs, exterior maintenance
programs, and systems upgrades to ensure that landlord and tenant
have established, accountable environmental standards. Building on
the green lease program, Federal Realty has invested over
$50 million in its solar photovoltaic
arrays consisting of a total of more than 18MW, which is expected
to generate 22,100,000 kWh annually, when combining both
operational and development projects currently in progress. The
solar investments reduce electrical demand from the grid and
greenhouse gas emissions and also provides tenants with an option
to purchase renewable energy directly from the source. This
investment along with innovative social engagement such as can be
seen at Pike & Rose where you can find the Mid-Atlantic
region's largest active rooftop farm, further exemplifies Federal's
commitment to the communities and people we serve.
"As building owners, developers, tenant companies, and other
real estate decision makers strive to keep up with evolving
financial and environmental pressures, leading-edge firms are using
the lease as a powerful instrument to create higher-performing
buildings that not only save energy and money but also provide
healthier work environments," said Cliff
Majersik, Executive Director for IMT. "IMT and DOE's Green
Lease Leaders program has made a significant market impact over the
past five years by raising the bar for green lease agreements and
putting a spotlight on the growing number of innovative companies
that use their leases to achieve ambitious energy, sustainability,
and business goals. We are thrilled to recognize this year's
impressive leaders who are pushing the envelope on building
performance and energy-aligned leasing."
About Federal Realty
Federal Realty is a recognized leader in the ownership,
operation and redevelopment of high-quality retail based properties
located primarily in major coastal markets from Washington, D.C. to Boston as well as San Francisco and Los Angeles. Founded in 1962, Federal Realty's
mission is to deliver long term, sustainable growth through
investing in densely populated, affluent communities where retail
demand exceeds supply. Its expertise includes creating urban,
mixed-use neighborhoods like Santana
Row in San Jose,
California, Pike & Rose in North Bethesda, Maryland and Assembly Row in
Somerville, Massachusetts. These
unique and vibrant environments that combine shopping, dining,
living and working provide a destination experience valued by their
respective communities. Federal Realty's 105 properties include
approximately 3,000 tenants, in approximately 24 million square
feet, and over 2,500 residential units.
Federal Realty has increased its quarterly dividends to its
shareholders for 50 consecutive years, the longest record in the
REIT industry. Federal Realty is an S&P 500 index member and
its shares are traded on the NYSE under the symbol FRT. For
additional information about Federal Realty and its properties,
visit www.FederalRealty.com.
Investor
Inquires:
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Media
Inquiries:
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Leah Andress
Brady
|
Andrea
Simpson
|
Investor Relations
Associate
|
Vice President,
Marketing
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301.998.8265
|
617.684.1511
|
lbrady@federalrealty.com
|
asimpson@federalrealty.com
|
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SOURCE Federal Realty Investment Trust