ROCKVILLE, Md., Oct. 12, 2017 /PRNewswire/ -- Federal Realty Investment Trust (NYSE: FRT), a national leader in the retail real estate industry, received the inaugural Best Sustainability Program award from the NAIOP DC | MD Chapter. The award is given to an organization that "demonstrates a strong commitment to sustainable business practices and solutions that contribute to environmental responsibility and economic success."
"Combining environmental responsibility with economic success is a key principle that permeates the way we operate and develop real estate at Federal Realty," said Chris Brown, Director of Sustainability of Federal Realty. "We're humbled to be acknowledged by NAIOP for those efforts and look forward to identifying new opportunities for environmental leadership."
Some of the components of Federal Realty's sustainability program for which it was recognized include:
- Investment of over $50 million in rooftop solar photovoltaic systems at almost one-third of Federal Realty's properties with the capacity to generate more than 18 megawatts of energy.
- 19 USGBC LEED New Construction projects, 1 LEED Neighborhood Development (under review) and 3 Cal Green certifications.
- Implementation of technology and management best practices to reduce water and electricity consumption throughout our portfolio.
- Introduction of the first rooftop farm in Maryland at Bethesda Row and a new 24,000 square foot farm underway at Pike & Rose.
About Federal Realty
Federal Realty is a recognized leader in the ownership, operation and redevelopment of high-quality retail based properties located primarily in major coastal markets from Washington, D.C. to Boston as well as San Francisco and Los Angeles. Founded in 1962, our mission is to deliver long term, sustainable growth through investing in densely populated, affluent communities where retail demand exceeds supply. Our expertise includes creating urban, mixed-use neighborhoods like Santana Row in San Jose, California, Pike & Rose in North Bethesda, Maryland and Assembly Row in Somerville, Massachusetts. These unique and vibrant environments that combine shopping, dining, living and working provide a destination experience valued by their respective communities. Federal Realty's 104 properties include over 2,800 tenants, in over 24 million square feet, and over 1,800 residential units.
Federal Realty has paid quarterly dividends to its shareholders continuously since its founding in 1962, and has increased its dividend rate for 50 consecutive years, the longest record in the REIT industry. Federal Realty shares are traded on the NYSE under the symbol FRT. For additional information about Federal Realty and its properties, visit www.FederalRealty.com.
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SOURCE Federal Realty Investment Trust