Plymouth Industrial REIT Development Projects Earn Green Globes® Certification for Core & Shell Construction
Plymouth Industrial REIT (NYSE: PLYM) has achieved significant sustainability milestones by receiving Green Globes certification for all four projects in its development program. This certification underscores its commitment to enhancing building operations and reducing carbon emissions. Plymouth has reported that three projects received a Two Green Globes ranking, while a fourth achieved Three Green Globes. The company also highlighted investments in LED lighting, cool roofs, and solar power installations, which have positively impacted both operational efficiency and tenant satisfaction. Notably, Plymouth's environmental initiatives account for approximately 44% of its portfolio utilizing LED lighting, contributing to an 8% reduction in total electricity consumption.
- All four projects have achieved Green Globes certification, showcasing a commitment to sustainability.
- Three projects earned a Two Green Globes ranking, and one received Three Green Globes.
- Plymouth converted 15 million square feet to LED lighting, reducing electricity consumption by 8%.
- Installed 1,000 kilowatts of solar power with plans for an additional 10,000 kilowatts.
- Environmental projects are expected to lead to positive bottom-line impacts.
- None.
Green Building Initiative Complements Plymouth’s Existing Solar and LED Projects
BOSTON, April 13, 2023 (GLOBE NEWSWIRE) -- Plymouth Industrial REIT, Inc. (NYSE: PLYM) announced that all four projects in the first phase of the Company’s development program have achieved Green Globes® certification for Core & Shell Construction for sustainability efforts during the design and delivery process. The certification demonstrates Plymouth’s commitment to current and future building operations best practices, occupant health and wellness, and reducing carbon emissions.
Jeff Witherell, Chief Executive Officer and Co-Founder of Plymouth, noted, “We take our responsibilities for the environment very seriously with a goal of reducing energy consumption and increasing our use of renewable energy. Joining GBI in 2022 was consistent with this goal as well as a long history of operating with integrity – one of our three founding pillars. We are pleased to receive a Two Green Globes ranking on three of the developments and a Three Green Globes certification on a fourth. Plymouth has also made significant progress on environmental projects that have positive bottom-line impacts for us and for our tenants such as LED lighting conversions, cool roofs and solar power.”
Vicki Worden, President & CEO of Green Building Initiative, added, “GBI is proud to have Plymouth Industrial REIT as an organizational member at the Stewardship level and a participant on our Building Industry Advisory Council. Through earning high scores on their initial Green Globes assessments and taking an active role in our growing community, Plymouth is demonstrating their commitment to fulfilling GBI’s mission of reducing climate impacts by improving in the built environment.”
Administered by the Green Building Initiative (GBI), Green Globes is a nationally recognized green rating assessment and certification system that ensures projects meet clearly defined criteria in seven assessment areas: Project Management, Site, Energy, Water, Resources, Emissions, and Indoor Environment. In addition to evaluating documentation in each of these performance areas, the Green Globes certification process includes an onsite assessment with a third-party Assessor to verify implementation.
54 Milliken Street, a 68,088-square-foot industrial building located in Portland, Maine that was completed in the fourth quarter of 2022 and is
Other environmental projects recently completed by Plymouth include:
- 15.0 million square feet, or approximately
44% of the portfolio, has been converted to LED lighting – reducing total electricity consumption across the entire portfolio by approximately8% - 14.5 million square feet, or approximately
42% of the portfolio, has “cool roofs,” including 1.72 million square feet of silicone roof coatings which eliminate landfill waste - Installed 1,000 kilowatts of solar power with contracts to install an additional 10,000 kilowatts of solar power by the end of 2024 with a targeted program size of up to 40,000 kilowatts
About Plymouth
Plymouth Industrial REIT, Inc. (NYSE: PLYM) is a full service, vertically integrated real estate investment company focused on the acquisition, ownership and management of single and multi-tenant industrial properties. Our mission is to provide tenants with cost effective space that is functional, flexible and safe.
About GBI
GBI is a nonprofit organization and American National Standards Institute (ANSI) Accredited Standards Developer dedicated to improving building performance and reducing climate impacts. Founded in 2004, the organization is the global provider of the Green Globes® and federal Guiding Principles Compliance building certification and assessment programs. To learn more about opportunities to become involved with GBI, contact info@thegbi.org or visit the GBI website at www.thegbi.org.
Forward-Looking Statements
This press release includes “forward-looking statements” that are made pursuant to the safe harbor provisions of Section 27A of the Securities Act of 1933 and of Section 21E of the Securities Exchange Act of 1934. The forward-looking statements in this release do not constitute guarantees of future performance. Investors are cautioned that statements in this press release, which are not strictly historical statements, including, without limitation, statements regarding management's plans, objectives and strategies, constitute forward-looking statements. Such forward-looking statements are subject to a number of known and unknown risks and uncertainties that could cause actual results to differ materially from those anticipated by the forward-looking statements, many of which may be beyond our control. Forward-looking statements generally can be identified by the use of forward-looking terminology such as “may,” “plan,” “seek,” “will,” “expect,” “intend,” “estimate,” “anticipate,” “believe” or “continue” or the negative thereof or variations thereon or similar terminology. Any forward-looking information presented herein is made only as of the date of this press release, and we do not undertake any obligation to update or revise any forward-looking information to reflect changes in assumptions, the occurrence of unanticipated events, or otherwise.
| Contact: | ||
| Tripp Sullivan | ||
| SCR Partners | ||
| (615) 942-7077 | ||
| TSullivan@scr-ir.com |
FAQ
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