Oxford Properties Group is the only non-U.S. based company recognized by the Institute for Market Transformation (IMT) and the U.S. Department of Energy’s (DOE) Better Buildings Alliance as a 2014 Green Lease Leader.
The accompanying media release indicates the new recognition program, “developed with support from leading real estate practitioners, distinguishes property owners, tenants, and brokers who are effectively using the lease as a tool to save energy in commercial buildings.”
Those named in the list “own or manage 400 million sq. ft. of combined property and have buildings on four different continents. Their green leasing strategies have been applied across nearly every major property type, including offices, retail space, and manufacturing sites.”
Oxford Properties committed to sustainability
“We are committed to constantly finding new ways to enable sustainable action in our buildings and across our business,” Oxford Properties’ website says. “Our vision around sustainability is clear – we want to grow our business without growing our environmental footprint and we want to continue to be an employer and partner of choice.”
The company has more than $20 billion in assets under management, comprised of 50 million sq. ft. of office, retail, multi-residential, industrial and hotel real estate. Its website says the company has “integrated sustainability into the operations of our existing buildings and continue to introduce the latest green building materials and technologies into our new developments.”
Among the company’s properties is the 741-ft. 47-storey IBM-Marathon Tower at 1250 Blvd. René- Lévesque in Montreal. The AAA-class 1,025,120-sq.-ft. LEED Gold office tower was the first Oxford Property to achieve certification in 2014.
Other properties include the LEED EB: O&M Gold (Existing Buildings: Operations and Management) Dynamic Funds Tower. The 591,00= sq.-ft. A-class office tower at 1 Adelaide St. East in Toronto brought Oxford’s LEED certified space up to 40 per cent in December 2013.
Oxford’s MetroCentre-Wellington Tower in Toronto was the first multi-tenant office building in Canada to achieve LEED Gold EB: O&M in 2008 and in 2013 became the first to “re-up” its LEED EB:O&M.
The Better Buildings Alliance website says the recognition program is helping to break through traditional barriers to incorporating sustainability into the lease process “by proving that a wide variety of companies are already incorporating green lease language into their portfolio, and by demonstrating replicable solutions that can be employed by others.”
Green Leasing is explained as energy-aligned, high-performance, energy-efficient leasing that “aligns the financial and environmental benefits of landlords and tenants to work together to save money, conserve resources, and ensure the efficient operation of buildings. These contractual arrangements can serve as a powerful mechanism to assist the commercial real estate industry in responding to market pressures and increase energy efficiency of the existing and newly constructed building stock.”
“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,” Cliff Majersik, executive director for IMT, said in the release.