Duke Realty Goes Fully ‘Green’
Duke Realty Corporation headquarters (artist rendering provided)
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As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowWith the start of the new year, Indianapolis-based Duke Realty Corp. (NYSE: DRE) is making a resolution to further help the environment. The company has announced starting in 2020 it will develop only LEED-certified buildings.
LEED certification means a building meets the highest standards, as determined by the U.S. Green Building Council, of energy savings, water efficiency, and reduced CO2 emissions.
“By meeting the stringent criteria of LEED certification in every new development, we are helping ensure that the buildings we deliver are respectful of the environment and support our tenants’ sustainability objectives,” said Jim Connor, Duke Realty’s chairman and chief executive officer.
Duke Realty owns, develops and manages industrial properties, such as distribution centers.
The company says over the past three years, its new logistics development starts have surpassed 29.6 million square feet, representing an investment of $2.8 billion.
Late last year Duke Realty announced a $400 million green bond for the purpose of financing future or refinancing recently completed eligible green projects.
The company says that move made it the first industrial REIT to source funds solely for environmentally friendly development in the U.S.
“Though many of our previously developed buildings incorporate sustainability practices or are LEED-certified, we believe that it’s appropriate for us to take a more definitive stance on the importance of only adding buildings that reduce waste in landfills and conserve resources,” said Connor.
In addition to implementing LEED guidelines on new construction, Connor says the company has been successful at redeveloping properties, retrofitting with LEED-certified technology and equipment.