ProLogis Announces New Sustainable Warehouse Construction Initiative
- All U.S. Distribution Facilities to be Built in Compliance with Environmental Standards Developed by U.S. Green Building Council -
DENVER, Jan. 16 /PRNewswire-FirstCall/ -- ProLogis (NYSE: PLD), the world's largest owner, manager and developer of distribution facilities, announced today a new sustainability initiative requiring all of its new development in the United States to comply with environmental standards developed by the U.S. Green Building Council (USGBC), a building industry nonprofit group that promotes sustainable development.
The initiative, effective January 1, 2008, will be implemented for all new development currently in the design or planning stage, as well as for projects going forward. As part of the initiative, ProLogis will register each building with the USGBC to be considered for LEED (Leadership in Energy and Environmental Design) certification, the U.S. national standard for environmentally responsible construction.
"ProLogis strives to be the market leader in all aspects of its industry, as demonstrated by the establishment of sustainable construction goals," said Jeff Schwartz, chairman and CEO for ProLogis.
Walt Rakowich, president and COO for ProLogis, added, "We have made significant strides with sustainable warehouse design and construction, and have best practices being utilized at our projects around the globe. We believe the time is right to take our initiatives a step further. By incorporating design elements for LEED certification for all our new distribution space in the U.S., we help to extend the lifetime of our buildings, ensure they perform to the highest standards of environmental construction, and provide our customers with distribution facility options that further their own sustainability agendas."
Presently, ProLogis has 3.5 million square feet in the U.S. under design or construction for which it is pursuing LEED certification. The company anticipates similar development activity in the U.S. for 2008 compared with last year, during which it began new starts totaling more than 11 million square feet, or 39 buildings.
"Today's announcement is an important milestone and commitment for ProLogis," said Jack Rizzo, managing director of global construction for ProLogis. "We see a growing preference among customers to lease space in buildings that have been developed with environmental efficiency in mind. Through good design standards, ProLogis' facilities already receive more than half of the credits required for basic LEED certification and we are confident our new sustainable warehouse construction guidelines will help secure the additional credits needed. We anticipate this initiative will not only prove to be a successful experience for the company and our customers, but will drive further change throughout the real estate industry."
Additionally, ProLogis has successfully trained all of its North American project managers on sustainability and U.S. Green Building Council LEED standards. So far more than 25 have become LEED Accredited Professionals; the remaining associates are expected to achieve LEED AP status over the next few months.
"ProLogis consistently demonstrates its commitment to sustainability. By embracing the USGBC and its LEED Green Building Rating System, which encourages and accelerates adoption of green building and development practices, we believe both the company and its future customers will be able to capitalize on the green strategies acquired and implemented for the long term," said Doug Gatlin, vice president, LEED Development, U.S. Green Building Council.
ProLogis is the world's largest owner, manager and developer of distribution facilities, with operations in 20 countries across North America, Europe and Asia. The company has $34.4 billion of assets owned, managed and under development, comprising 483.0 million square feet (44.9 million square meters) in 2,669 properties as of September 30, 2007. ProLogis' customers include manufacturers, retailers, transportation companies, third-party logistics providers and other enterprises with large-scale distribution needs. Headquartered in Denver, Colorado, ProLogis employs more than 1,300 people worldwide. For additional information about the company, go to http://www.prologis.com.
Released January 16, 2008