Phillips Edison Receives Green Lease Leaders Gold Recognition

Rhea-AI Summary

Phillips Edison & Company (NASDAQ: PECO) has received gold-level recognition as a 2022 Green Lease Leader during the Better Buildings, Better Plants Summit. This honor was given by the Institute for Market Transformation and the U.S. Department of Energy’s Better Buildings Alliance. Green leases aim to enhance energy efficiency and sustainability in commercial spaces, impacting nearly two billion square feet across North America. Green leases can save up to $3 billion in annual utility costs for U.S. office buildings. PECO operates 290 shopping centers, focusing on grocery-anchored retail.

Positive

• Achieved gold-level recognition as a 2022 Green Lease Leader, demonstrating commitment to sustainability.
• Potential to save up to $3 billion in annual utility costs through implementation of green leases in commercial spaces.

Negative

• None.

CINCINNATI--(BUSINESS WIRE)-- Phillips Edison & Company (Nasdaq: PECO) is pleased to announce that it has received gold-level recognition as a 2022 Green Lease Leader during the Better Buildings, Better Plants Summit. This has been announced by The Institute for Market Transformation (IMT) and the U.S. Department of Energy’s (DOE) Better Buildings Alliance.

Launched in 2014, Green Lease Leaders sets national standards for what constitutes a green lease, while recognizing landlords and tenants who modernize their leases to spur collaborative action on energy efficiency, cost-savings, air quality, and sustainability in buildings.

“We are proud to achieve this distinction, as it reflects our longstanding and ongoing commitment to working with our Neighbors to advance environmentally friendly initiatives across our portfolio,” said Bob Myers, Chief Operating Officer and Executive Vice President of PECO.

PECO is proud to be part of the national trend toward green leases in commercial spaces. This year’s Green Lease Leaders represent portfolios totaling nearly two billion square feet and comprising a diverse range of buildings ranging from commercial offices to industrial buildings to data centers. Altogether, Green Lease Leaders manage more than five billion square feet of commercial and government space across North America, representing a huge potential for growth in green leases. In the commercial sector alone, green leasing has the potential to affect eight percent of leased space nationwide. IMT estimates that green leases can help reduce utility bills by up to 50 cents per square foot (22 percent) in U.S. office buildings alone, and if all leased office buildings executed green leases, the market could reap over $3 billion in annual cost savings.

Learn more about Green Leasing by visiting GreenLeaseLeaders.com or reading Green Lease Leaders’ case studies.

About Phillips Edison & Company

Phillips Edison & Company, Inc. (“PECO”), an internally-managed REIT, is one of the nation’s largest owners and operators of grocery-anchored shopping centers. Founded in 1991, PECO has generated strong results through its vertically-integrated operating platform and national footprint of well-occupied shopping centers. PECO’s centers feature a mix of national and regional retailers providing necessity-based goods and services in fundamentally strong markets throughout the United States. PECO’s top grocery anchors include Kroger, Publix, Ahold Delhaize, and Albertsons. As of March 31, 2022, PECO manages 290 shopping centers, including 269 wholly-owned centers comprising 30.8 million square feet across 31 states, and 21 shopping centers owned in two institutional joint ventures. PECO is exclusively focused on creating great omni-channel grocery-anchored shopping experiences and improving communities, one shopping center at a time.

PECO uses, and intends to continue to use, its Investors website, which can be found at https://investors.phillipsedison.com, as a means of disclosing material nonpublic information and for complying with its disclosure obligations under Regulation FD.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220524005190/en/

Cherilyn Megill

Phillips Edison & Company

801-415-4373

cmegill@phillipsedison.com

Megan Kivlehan

ICR

646-677-1807

PECOPR@icrinc.com

Source: Phillips Edison & Company, Inc.

FAQ

What recognition did Phillips Edison receive in 2022?

Phillips Edison was recognized as a gold-level 2022 Green Lease Leader.

What does the Green Lease Leader program promote?

The Green Lease Leader program promotes energy efficiency and sustainability in commercial leases.

How many shopping centers does PECO operate?

Phillips Edison operates 290 shopping centers across the United States.

How much could green leases save in utility costs for U.S. office buildings?

Green leases could help reduce utility bills by up to $3 billion annually.

What is the stock symbol for Phillips Edison?

The stock symbol for Phillips Edison is PECO.