Liberty Property Trust (LRY), a leading real estate investment trust (REIT), was recently accredited with Leadership in Energy and Environmental Design (LEED) Gold certification from the U.S. Green Building Council for its 211,000 square feet Maitland Summit III building in Orlando, Florida. This is the first LEED-certified development project of the company in the city.
LEED is an internationally recognized third-party green building certification system, which ensures that a building was designed and built for environment-compatibility, providing a healthy work environment and reducing operating costs. The projects are judged on six parameters, including Sustainable Sites, Water Efficiency, Energy & Atmosphere, Materials & Resources, Indoor Environmental Quality, and Innovation in Design. The number of points earned by a project determines the level of LEED Certification it receives, which is currently available in four progressive levels – Certified: 26 – 32 points; Silver: 33 – 38 points; Gold: 39 – 51 points; and Platinum: 52 – 69 points.
The LEED Gold certification for the Orlando property was based on a number of green design and construction features, including enhanced daylight views, use of Forest Stewardship Council-certified woods, waterless urinals, and high energy-efficient HVAC equipment with special filters and carbon dioxide monitors.
Based in Pennsylvania, Liberty Property provides leasing, property management, development, construction management, design management and related services for a portfolio of industrial and office properties. The company focuses primarily on prime suburban properties in the Southeast, Mid-Atlantic and Midwest regions of the U.S. In addition, Liberty Property also owns certain assets in the U.K.
Liberty Property’s assets are designed to accommodate various types of tenants and space requirements. The company specifically focuses on metro-office, multi-tenant industrial and flex properties and markets that have strong demographic and economic fundamentals, ensuring a steady revenue stream for the company.
Furthermore, Liberty Property operates in multiple markets that enable it to mitigate geographical risk. In each of these markets, the company offers an appropriate mix of office and industrial properties. Currently, the company is also repositioning its portfolio as it intends to focus on higher growth markets characterized by better job and rent growth prospects. The current rating on Liberty Property is “Neutral” with a Zacks #3 Rank, which translates into a short-term ‘Hold’ recommendation.
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