Business & Finance
Tue, April 19, 2011Mon, April 18, 2011Sun, April 17, 2011Fri, April 15, 2011Thu, April 14, 2011Wed, April 13, 2011Tue, April 12, 2011Mon, April 11, 2011Sun, April 10, 2011Fri, April 8, 2011Thu, April 7, 2011Franklin Street Properties Corp. Achieves LEED(R) Gold Certification for Existing Buildings: Operations & Maintenance at 380 &
Published in Business and Finance on Wednesday, April 13th 2011 at 7:40 GMT by Market Wire
WAKEFIELD, MA--(Marketwire - April 13, 2011) - Franklin Street Properties Corp. ("FSP," "we," "our" or "its") (
LEED-EB: O&M is an internationally recognized rating system which provides third party verification on a building's performance in five broad categories: sustainable site maintenance, water efficiency, energy and atmosphere, materials and resources and indoor environmental quality.
"With four LEED Gold buildings in the Denver area alone, FSP has demonstrated its commitment to sustainable building management and operation," according to J. David Hart, Senior Vice President of CBRE and leasing agent for the Properties. "Tenants in these properties enjoy the multiple benefits of being in a green building."
The Properties consist of two multi-tenant office buildings containing an aggregate of approximately 480,000 rentable square feet. The Properties are located about 20 miles northwest of Denver, in the Interlocken Business Park. Highlights of the Properties' sustainability achievements include:
- Energy Star scores which place the Properties in the top 15% of similar buildings in terms of energy efficiency and also earned the Properties the EPA's Energy Star label.
- No use of potable water for landscaping by way of a dual plumbing system which supplies reclaimed wastewater to outdoor plants.
- Plumbing fixture enhancements which reduced water usage to over 30% below the LEED-EB O&M baseline case.
- Recycling over 50% of ongoing consumable waste and 100% of the durable waste stream during the Properties' LEED performance periods.
- An extensive green cleaning program and the use of high efficiency air filters, providing occupants with enhanced indoor air quality.
- Implementation of an educational outreach program which earned the Properties recognition from the USGBC under the category of "Innovation."
William S. Friend, Jr., Vice President and Regional Director of FSP stated, "We wish to thank Prime West Companies, the on-site manager for the Properties, as well as AEC, our LEED consultant, for their efforts in attaining this prestigious certification. We also wish to recognize the contribution of the tenants of 380 and 390 Interlocken, whose enthusiasm and participation during the LEED process was integral to its success."
About Franklin Street Properties Corp.
Franklin Street Properties Corp., based in Wakefield, Massachusetts, is focused on achieving current income and long-term growth through investments in commercial properties. FSP operates in two business segments: real estate operations and investment banking/investment services. The majority of FSP's property portfolio is suburban office buildings, with select investments in certain central business district properties. FSP's subsidiary, FSP Investments LLC (member, FINRA and SIPC), is a real estate investment banking firm and a registered broker/dealer. FSP is a Maryland corporation that operates in a manner intended to qualify as a real estate investment trust (REIT) for federal income tax purposes. To learn more about FSP please visit our website at [ www.franklinstreetproperties.com ].
About Prime West Companies
Prime West Companies, based in Denver, Colorado, was established in February, 1981, consisting of Prime West Development, Inc. and Prime West Real Estate Services, LLC. Prime West is a fully-diversified commercial real estate company active in asset management, commercial development, advisory services for acquisitions/dispositions, development management, build-to-suit development; tenant advocacy, building renovations, property management, tenant finish construction and consulting.
About Architectural Energy Corporation (AEC)
Architectural Energy Corporation (AEC) is a leading sustainability and energy engineering consulting firm. Founded in 1982, AEC has provided LEED® certification consulting on more than 100 LEED® certified projects worldwide and provides sustainable design consulting, energy and daylighting modeling and analysis, commissioning, measurement and verification, energy audits, and retro-commissioning for new and existing buildings. Building owners, architects, and engineers rely on AEC's expertise in the sustainable design, commissioning, and operation of functional, healthy, and environmentally responsive buildings. Visit [ www.archenergy.com ] for more information.
Forward-Looking Statements
Statements made in this press release that state FSP's or management's intentions, beliefs, expectations, or predictions for the future may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. This press release may also contain forward-looking statements based on current judgments and current knowledge of management, which are subject to certain risks, trends and uncertainties that could cause actual results to differ materially from those indicated in such forward-looking statements. Accordingly, readers are cautioned not to place undue reliance on forward-looking statements. Investors are cautioned that our forward-looking statements involve risks and uncertainty, including without limitation, economic conditions in the United States, disruptions in the debt markets, economic conditions in the markets in which we own properties, changes in the demand by investors for investment in Sponsored REITs (as defined in our Annual Report on Form 10-K for the year ended December 31, 2010), risks of a lessening of demand for the types of real estate owned by us, changes in government regulations, and expenditures that cannot be anticipated such as utility rate and usage increases, unanticipated repairs, additional staffing, insurance increases and real estate tax valuation reassessments. See the "Risk Factors" set forth in Part I, Item 1A of our Annual Report on Form 10-K for the year ended December 31, 2010, as the same may be updated from time to time in subsequent filings with the United States Securities and Exchange Commission. Although we believe the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements. We will not update any of the forward-looking statements after the date of this press release to conform them to actual results or to changes in our expectations that occur after such date, other than as required by law.
