BOSTON, June 16, 2023 (GLOBE NEWSWIRE) — Plymouth Industrial REIT, Inc. (NYSE: PLYM) announced that the Institute for Market Transformation (IMT) and the U.S. Department of Energy’s (DOE) Better Buildings Alliance named Plymouth as a 2023 Green Lease Leader during the recent Better Buildings, Better Plants Summit. Launched in 2014, Green Lease Leaders sets 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 improvement, and sustainability in buildings.
Plymouth achieved Silver recognition for instituting a green lease to make its buildings greener, healthier and safer. To receive this recognition, the Company qualified for credits in energy efficiency and sustainability best practices such as utility data tracking and sharing, cost recovery for capital improvements and sustainability training.
Jeff Witherell, Chairman and Chief Executive Officer of Plymouth Industrial REIT, noted, “We have pursued our sustainability initiatives with the goal of doing what is right for our shareholders and tenants from an economic standpoint as well as what is best for the environment. The green lease we recently signed at our 3701 David Howarth Drive building in the Indianapolis market accomplishes each of these objectives.”
Plymouth is proud to be part of the national trend toward green leases in commercial spaces. This year the program expanded by 31%, including 34 new winners. Additionally, six companies earned Platinum recognition, achieving even more stringent requirements. The overall program growth reflects a wide acceptance that green leases are a critical tool for improving buildings and meeting corporate environmental and social goals. This year’s Green Lease Leaders represent portfolios totaling over three billion square feet and comprise a diverse range of buildings from large and small commercial offices to data centers and industrial and multifamily buildings. The cumulative floor area of all Green Lease Leaders is now nearly 6.5 billion square feet of building space.
IMT estimates that green leases can help reduce utility bills by up to approximately 50 cents per square foot (22 percent) in U.S. office buildings alone. If all leased office buildings executed green leases, the market could reap over $3 billion in annual cost savings.
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.