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Sustainability isn’t just about being environmentally friendly. It encompasses practices that span across almost every department of our company. Here is a round-up of the watershed moments and industry firsts that happened in 2014—arguably our best year of sustainability to date.
We received awards from the U.S. Department of Energy, twice. In May of 2014 we were recognized for two different aspects of incorporating energy- and cost-saving practices. Specifically, we were awarded for the “Highest Percentage Savings in a Retrofit at a Single Parking Facility” at Rona Plaza in Santa Ana, CA. This facility reached 81% in energy savings, and a return on investment of 50%. Not only is that sustainable, it’s substantial.
In the same month we were also honored by the Institute for Market Transformation for incorporating lease clauses that help overcome market barriers and align tenant and property owner interests in order to save energy in commercial buildings. To put it simply, we made it easier to save money and the environment for our tenants and ourselves.
In 2014 alone, we completed 25 LED lighting projects—more than double the combined total from previous years. LED’s energy efficiency is gigantic, saving up to 90% of energy expenditure and considerably reducing costs. LED use also saves on maintenance and repair costs, as the bulbs have a lifespan of well over 50,000 hours of optimal lumen output.
We received four LEED certifications, totaling more than half of our re/development starts. LEED stands for Leadership in Energy and Environmental Design. It serves as a rating system for design, management, construction and continued maintenance of buildings that look to be “green” in CRE, residential and office industries. Cost and energy savings are major aspects of this certification, but they also play an important role in our Green Bond issuance.
These LEED certified centers were:
We successfully offered the first Green Bond from an American REIT, ever. A Green Bond is an opportunity for environmentally conscious investors to funnel their money directly to a green-friendly construction project. The funds go directly to LEED certified projects, both ongoing and upcoming. Transparency and accurate reporting are crucial to this effort in order to assure investors that their money is being spent responsibly and for a good cause.
Along with being the first REIT in the U.S. to offer this, we were also the second company in the U.S. to offer this type of issuance—the first was Bank of America. Not only were we industry forerunners for this, but we’re also a part of the small group that is bringing it to use around the nation.
Tesla Motors has partnered with Regency to expand the “electric web” of charging stations across the country. That’s right, we’re working directly with one of the most influential companies in the automotive industry in order to provide greater access to alternatively fueled cars. Tesla approached us because of our ideal property locations which provide drivers with a nice place to do some shopping and eating while they recharge. With more than 300 properties across the country, and a continuing effort on quality placemaking and merchandising, we offer an attractive set of goods for those who are in need of some refueling.
