LOS ANGELES--(BUSINESS WIRE)--Apr. 6, 2015-- Kilroy Realty Corporation (NYSE: KRC) announced today that the U.S. Environmental Protection Agency (EPA) has for the second year in a row recognized KRC as an ENERGY STAR Partner of the Year. EPA's annual ENERGY STAR Awards honor organizations that have made outstanding contributions to protecting the environment through superior energy efficiency. The award winners are chosen from nearly 20,000 partners that participate in the ENERGY STAR program, and the selection is extremely competitive. Commercial landlords that win the prestigious award have demonstrated an organization-wide commitment to reducing energy costs for their tenants in partnership with ENERGY STAR.
"The ENERGY STAR program continues to provide us the tools and support we need to reduce energy use in our portfolio each year, and we are proud to collaborate with other Partner of the Year winners on some of our most innovative initiatives,” said Sara Neff, Vice President of Sustainability at KRC. “Our energy efficiency programs are critical in enabling us to offer our tenants sustainable workplace environments that support their business needs.”
With a focus on ongoing performance measurement and whole-building improvement, EPA's ENERGY STAR program provides a proven energy management platform that has helped KRC achieve important reductions in energy use and greenhouse gas emissions.
KRC’s key 2014 accomplishments related to award-winning energy management programs include:
- 36 properties (6.8 million square feet) earned the Energy Star Label in 2014, representing 56% of the KRC eligible stabilized portfolio
- Labeled properties have an average Energy Star score of 87
- Achieved global recognition for Demand Response participation
- KRC’s portfolio experienced a drop in energy use of over 2% for the third year in a row, even though occupancy increased 1% over the same timeframe
- The annual CO2 reduction from this energy reduction of over 3.7 million kilowatt hours is equivalent to taking 542 cars off the road for a year, providing a year of electricity to 235 homes, planting 66,061 trees and letting them grow for 10 years, and avoiding burning over 13.8 railcars’ worth of coal
The award winners, including KRC, will be recognized at an awards ceremony in Washington, D.C. on April 20th.
About ENERGY STAR. ENERGY STAR was introduced by the U.S. Environmental Protection Agency in 1992 as a voluntary market-based partnership to reduce greenhouse gas emissions through increased energy efficiency. Today, ENERGY STAR offers businesses and consumers energy-efficient solutions to save energy, money, and help protect the environment for future generations. Nearly 20,000 organizations are ENERGY STAR partners committed to improving the energy efficiency of products, homes, and buildings. For more information about ENERGY STAR, visitwww.energystar.gov or call toll-free 1-888-STAR-YES (1-888-782-7937).
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 serves a broad roster of dynamic, innovation-driven tenants, including technology, entertainment, digital media and health care companies.
At December 31, 2014, the company’s stabilized portfolio totaled 14.1 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 the Global Real Estate Sustainability Benchmark (GRESB) as the North American leader in sustainability and was ranked first among 151 North American participants across all asset types. At the end of the fourth quarter, the company’s properties were 39% LEED certified and 56% of eligible properties were ENERGY STAR certified. In addition, KRC had approximately 1.7 million square feet of new office and mixed-use development under construction with a total estimated investment of approximately $1.0 billion. More information is available athttp://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, 2014 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.
Source: Kilroy Realty Corporation
Kilroy Realty Corporation
Vice President, Sustainability