Regency Centers (NYSE:REG), a national owner, operator, and developer of grocery-anchored shopping centers is proud to be honored by the U.S. Department of Energy’s (DOE) Better Buildings Alliance and the Institute for Market Transformation (IMT) and as an inaugural Green Lease Leader. Regency Centers is leading the market by achieving the standards set by the Green Lease Leaders program and incorporating lease clauses that help overcome market barriers, and align tenant and property owner interests, to save energy in commercial buildings.
“As a contractual arrangement, the lease is a powerful tool to help landlords and tenants increase building energy efficiency,” said Kristen Taddonio, manager of the Energy Department’s Better Buildings Alliance. “The Green Lease Leaders recognized today are redefining the role that leasing space can contribute to the triple bottom line and setting a standard for the industry.”
Regency Centers is committed to being a leader in sustainability and engaging with its tenants around sustainability and energy efficiency is a key part of their overall sustainability strategy. “It’s an honor to be recognized as an inaugural Green Lease Leader,” said Mark Peternell, Regency’s Vice President of Sustainability. “By structuring our leases to better align incentives for sustainability and energy efficiency, we are helping the entire shopping center reduce its environmental impact while mitigating exposure to increasing and volatile energy prices.”
Cliff Majersik, Executive Director for IMT, offered his highest congratulations to Regency Centers, as well. “Because of this recognition program, brokers, landlords, and tenants now have a blueprint for writing leases that remove impediments to efficiency and align interests so landlords and tenants both benefit from improving building performance. IMT and the Better Buildings Alliance are proud to see that many of today’s Green Lease Leaders are using the lease transaction to lay the foundation for working together to boost sustainability on a major scale," he said.
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