LOS ANGELES--(BUSINESS WIRE)--
Kilroy Realty Corporation(NYSE: KRC) today announced that
eight of its assets, totaling approximately 2.5 million square feet of
office space and representing 17% of its stabilized portfolio, have
achieved Fitwel certification, administered by the Center for Active
Design. The Fitwel certification system, which rates workplaces that
promote positive health outcomes for occupants, was created as a joint
initiative led by the US Centers for Disease Control and Prevention
(CDC) and the General Services Administration (GSA) in addition to
experts in public health and design over a five-year process completed
in 2015.
KRC has a successful track record of sustainability and health
achievements. GRESB, widely recognized as the most rigorous standard for
benchmarking the sustainability performance of real estate companies and
funds, named KRC the North American leader in sustainability for the
past three consecutive years and named it #1 for Health performance in
the office sector in the most recent reporting year, 2016. Earlier this
month, KRC announced the WELL certification of its residential tower in
Hollywood, the first in California and the second in the world to
achieve the certification.
“Fitwel allows us to demonstrate to our tenants that our buildings
promote healthy outcomes both inside and out. Further, the system
provides an accessible roadmap to allow our building teams to make
positive, tangible changes that will help our health scores improve over
time,” said Sara Neff, senior vice president of sustainability for KRC.
“The fact that the CDC and GSA created this system gives us confidence
that the health measures they endorse will result in clear benefits for
our tenants.”
The eight buildings that earned this certification include properties in
Los Angeles, San Francisco and Seattle, with final scores ranging from
one to three stars, three being the highest possible score. The features
attributed to the Fitwel certifications include:
-
High Walkscores as a result of locations in transit-oriented and
walkable areas
-
Open stairwells
-
Fitness centers
-
Green cleaning and purchasing programs
-
Availability of healthy food options
-
Comprehensive emergency preparedness programs
-
Access to water
-
Availability of daylight and views in tenant spaces
“We are thrilled to partner with the world-renowned owner and operator
of office properties, Kilroy Realty, as a Fitwel Champion,” said Joanna
Frank, chief executive officer of the Center for Active Design. “By
integrating Fitwel’s scientific design and operational strategies within
its portfolio, Kilroy Realty is recognizing the shift in the market by
providing office spaces that promote the health of its tenants and the
communities in which they are located.”
KRC intends to both continue pursuing Fitwel certifications for its
stabilized buildings that qualify for the certification and to using the
Fitwel system as a guide to making health-related improvements in its
existing portfolio.
About Kilroy Realty Corporation. Kilroy Realty Corporation
(KRC), a publicly traded real estate investment trust and member of the
S&P MidCap 400 Index, is one of the West Coast’s premier landlords. The
company has over 70 years of experience developing, acquiring and
managing office and mixed-use real estate assets. 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 June 30, 2017, the company’s stabilized portfolio totaled
approximately 14.4 million square feet of office space and 200
residential units located in the coastal regions of Los Angeles, Orange
County, San Diego, the San Francisco Bay Area and Greater Seattle. In
addition, KRC had four projects totaling approximately 1.8 million
square feet of office space, 237 residential units and 96,000 square
feet of retail space under construction.
The company is recognized by GRESB as the North American leader in
sustainability and was ranked first among 178 North American
participants across all asset types. At the end of the second quarter,
the company’s stabilized portfolio was 52% LEED certified and 71% of
eligible properties were ENERGY STAR certified. More information is
available at http://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 the forward-looking
statements, and you should not rely on the 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 the forward-looking statements,
including, among others: global market and general economic conditions
and their effect on our liquidity and financial conditions and those of
our tenants; adverse economic or real estate conditions generally, and
specifically, in the States of California and Washington; risks
associated with our investment in real estate assets, which are
illiquid, and with trends in the real estate industry; defaults on or
non-renewal of leases by tenants; any significant downturn in tenants’
businesses; our ability to release property at or above current market
rates; costs to comply with government regulations, including
environmental remediation; the availability of cash for distribution and
debt service and exposure to risk of default under debt obligations;
increases in interest rates and our ability to manage interest rate
exposure; the availability of financing on attractive terms or at all,
which may adversely impact our future interest expense and our ability
to pursue development, redevelopment and acquisition opportunities and
refinance existing debt; a decline in real estate asset valuations,
which may limit our ability to dispose of assets at attractive prices or
obtain or maintain debt financing, and which may result in write offs or
impairment charges; significant competition, which may decrease the
occupancy and rental rates of properties; potential losses that may not
be covered by insurance; the ability to successfully complete
acquisitions and dispositions on announced terms; the ability to
successfully operate acquired, developed and redeveloped properties; the
ability to successfully complete development and redevelopment projects
on schedule and within budgeted amounts; delays or refusals in obtaining
all necessary zoning, land use and other required entitlements,
governmental permits and authorizations for our development and
redevelopment properties; increases in anticipated capital expenditures,
tenant improvement and/or leasing costs; defaults on leases for land on
which some of our properties are located; adverse changes to, or
implementations of, applicable laws, regulations or legislation; risks
associated with joint venture investments, including our lack of sole
decision-making authority, our reliance on co-venturers’ financial
condition and disputes between us and our co-venturers; environmental
uncertainties and risks related to natural disasters; and our ability to
maintain our status as a REIT. These factors are not exhaustive and
additional factors could adversely affect our business and financial
performance. 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, 2016 and our other
filings with the Securities and Exchange Commission. All forward-looking
statements are based on currently available information, 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 we are required to do so in connection with our
ongoing requirements under federal securities laws.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170831006369/en/
Kilroy Realty Corporation
Sara Neff
Senior Vice President
Sustainability
(310)
481-8449
Source: Kilroy Realty Corporation