NEW HYDE PARK, N.Y.--(BUSINESS WIRE)--Kimco Realty Corp. (NYSE:KIM), North America’s largest publicly traded owner and operator of neighborhood and community shopping centers, announced today that it has won the Lighting Energy Efficiency in Parking (LEEP) campaign award for the largest absolute number of facility upgrades. The LEEP campaign recognized Kimco for making the most energy-saving upgrades to parking areas, installing lighting control systems at 160 properties, affecting 51 million square feet of parking surface area, since Kimco launched its proprietary Property Gateway building controls program in 2011.
The LEEP campaign supports and recognizes parking facility owners and operators who have installed energy-efficient lighting solutions. The campaign and associated awards are sponsored by the Department of Energy’s (DOE) Better Buildings Alliance, and organized by the International Facility Management Association (IFMA), the Green Parking Council (GPC) and the Building Owners and Managers Association (BOMA) International.
A real estate leader in energy efficiency initiatives, Kimco developed its Property Gateway building controls program to better manage shopping center utility costs and to reduce the company’s environmental footprint. The multi-phased effort comprises the implementation of standardized equipment at company properties that allows for control of key building systems, and which can be easily operated through a web browser or custom iPad application. The installation of energy-saving lighting controls is Property Gateway’s first stage, and has already yielded 3.6 million in annual kilowatt savings from the initial 160 implementations. This energy reduction translates to $400,000 in cost savings per year that Kimco will apply toward property improvements. The program will address retail tenant needs, irrigation, sub-metering, and video applications in future phases.
"Through the Lighting Energy Efficiency in Parking campaign, the Department of Energy is working with organizations committed to more energy efficient exterior lighting technologies and systems," said Deputy Assistant Secretary of Energy Efficiency, Kathleen Hogan. "These highly innovative and cost-competitive lighting solutions are helping transform how our nation lights its parking lots and garages."
“Being recognized with a LEEP award reaffirms Kimco’s decision to partner with the Department of Energy’s Better Buildings Alliance,” said Will Teichman, Kimco’s director of sustainability. “Through this collaboration, we’ve gained key insights that have accelerated the pace of our energy efficiency programs.”
Kimco Realty Corp. (NYSE:KIM) is a real estate investment trust (REIT) headquartered in New Hyde Park, N.Y., that owns and operates North America’s largest publicly traded portfolio of neighborhood and community shopping centers. As of December 31, 2013, the company owned interests in 852 shopping centers comprising 125 million square feet of leasable space across 42 states, Puerto Rico, Canada, Mexico and South America. Publicly traded on the NYSE since 1991, and included in the S&P 500 Index, the company has specialized in shopping center acquisitions, development and management for more than 50 years. For further information, please visit www.kimcorealty.com, the company’s blog at blog.kimcorealty.com, or follow Kimco on Twitter at www.twitter.com/kimcorealty.
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The statements in this news release state the company's and management's intentions, beliefs, expectations or projections of the future and are forward-looking statements. It is important to note that the company's actual results could differ materially from those projected in such forward-looking statements. Factors which may cause actual results to differ materially from current expectations include, but are not limited to (i) general adverse economic and local real estate conditions, (ii) the inability of major tenants to continue paying their rent obligations due to bankruptcy, insolvency or a general downturn in their business, (iii) financing risks, such as the inability to obtain equity, debt or other sources of financing or refinancing on favorable terms to the company, (iv) the company’s ability to raise capital by selling its assets, (v) changes in governmental laws and regulations, (vi) the level and volatility of interest rates and foreign currency exchange rates, (vii) risks related to our international operations, (viii) the availability of suitable acquisition and disposition opportunities, and risks related to acquisitions not performing in accordance with our expectations, (ix) valuation and risks related to our joint venture and preferred equity investments, (x) valuation of marketable securities and other investments, (xi) increases in operating costs, (xii) changes in the dividend policy for the company’s common stock, (xiii) the reduction in the company’s income in the event of multiple lease terminations by tenants or a failure by multiple tenants to occupy their premises in a shopping center, (xiv) impairment charges and (xv) unanticipated changes in the company’s intention or ability to prepay certain debt prior to maturity and/or hold certain securities until maturity. Additional information concerning factors that could cause actual results to differ materially from those forward-looking statements is contained from time to time in the company's Securities and Exchange Commission (SEC) filings. Copies of each filing may be obtained from the company or the SEC.
The company refers you to the documents filed by the company from time to time with the SEC, specifically the section titled "Risk Factors" in the company's Annual Report on Form 10-K for the year ended December 31, 2013, as may be updated or supplemented in the company’s Quarterly Reports on Form 10-Q and the company’s other filings with the SEC, which discuss these and other factors that could adversely affect the company's results.