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.”
About Kimco
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.
Safe Harbor Statement
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.
Copyright Business Wire 2014