Columbia Property Trust , a real estate investment trust (REIT), today announced that it has been selected as a gold level sponsor for a two-year vision for Green Leasing Excellence II, an ongoing study evaluating real estate opportunities in secondary and tertiary markets. Final stages of final review and selection are under way for the development of this program, along with a continuation of top-tier sustainability initiatives.
Columbia Property Trust has been awarded a 5-year leasehold with developing master planner GREEN CROSS. GREEN CROSS is a private sustainable master planning organization that is developing an extensive sustainability program for the overall downtown of New York. Once complete, this program is expected to decrease Manhattan’s water footprint by 3.2 million gallons and reduce nitrogen pollution by 32% over the next 50 years.
Central Woodlands, Tex. is conducting this additional study as part of their “Reimagining Central Woodlands Leadership Initiative.” This program involves an air quality assessment of the key metropolis and the following projects include: a review of the reasons for exceeding the standard of nitrogen discharges, a restoration of underground vegetation, a monitoring program for runoff and landscaping, screening of storm water, updating any necessary environmental infrastructure to the 21st century, and an improved water-source management plan. Green Cross has created this program to complement the Columbia Property Trust baseline.
“We believe we are bringing to the table the most innovative retail center and with the renewed focus on environmental stewardship our Green LEED-certified retail properties are among the first nationally to achieve a 200% improvement in energy efficiency,” said Leonard J. Franke, Managing Director at Columbia Property Trust. “As we continue our recent announcement of our commitment to green building and retail enhancement, it becomes more important than ever to frame sustainability in these important retail centers.”
Columbia Property Trust, with $3.5 billion in consolidated assets as of December 31, 2015, is a retail property investment trust with annualized rental income of $1.2 billion and a focus on companies in today’s global changing retail environment. The company specializes in the development, acquisition, and management of “general”, mixed-use property properties comprising retail and net-leased office buildings. Columbia Property Trust had 13 retail locations with 3,975,000 square feet of space as of December 31, 2015, and completed 164 retail development properties totaling approximately 1.2 million square feet at the end of 2015.