Corporate News

  View printer-friendly version

<<  Back
All Duke Realty New Development Projects will be LEED® Certified
National logistics real estate company will design and build all new facilities going forward to achieve independent, third-party verification of environmentally responsible development

INDIANAPOLIS, Jan. 07, 2020 (GLOBE NEWSWIRE) -- Duke Realty Corporation (NYSE:DRE), the largest domestic-only, pure-play logistics property REIT (Real Estate Investment Trust) in the United States, has announced that, starting in 2020, it will develop only LEED®-certified buildings going forward as part of its commitment to helping lessen the environmental impact its buildings have on our world. LEED® ‒ an acronym for Leadership in Energy and Environmental Design™ ‒ is a registered trademark of the U.S. Green Building Council®, and LEED certification is an independent, third-party verification that a building project meets the highest performance standards and has been designed and built using strategies intended to result in energy savings, water efficiency, reduced CO2 emissions, improved indoor air quality, proper use of resources and sensitivity to the environment.

The national real estate company’s pledge to LEED certification is significant given that it is one of the industry’s most prolific developers of logistics space in the United States. Over the past three years, Duke Realty’s new logistics development starts have surpassed 29.6 million square feet, representing an investment of $2.8 billion.

“By meeting the stringent criteria of LEED certification in every new development, we are helping ensure that the buildings we deliver are respectful of the environment and support our tenants’ sustainability objectives,” explained Jim Connor, Duke Realty’s Chairman and CEO. “Though many of our previously developed buildings incorporate sustainability practices or are LEED certified, we believe that it’s appropriate for us to take a more definitive stance on the importance of only adding buildings that reduce waste in landfills and conserve resources.” 

Duke Realty’s commitment to only LEED certified development going forward follows the company’s announcement late last year of a $400 million green bond for the purpose of financing future or refinancing recently completed eligible green projects, making it the first industrial REIT to source funds solely for environmental friendly development in the United States.

“We are excited about this next step in our commitment to environmental responsibility. Duke Realty has been a longtime environmental steward, incorporating sustainable practices in new buildings we develop and retrofitting our existing properties for energy and water savings,” added Connor. “We also have been successful at redeveloping properties around the country, transforming under-utilized sites and functionally obsolete or environmentally contaminated properties into state-of-the-art logistics facilities. Undertaking LEED certification on all new developments projects was a natural next step for us.” 

About Duke Realty

Duke Realty Corporation owns and operates approximately 155 million rentable square feet of industrial assets in 20 major U.S. logistics markets. Duke Realty is publicly traded on the NYSE under the symbol DRE and is a member of the S&P 500. The company maintains a Baa1 rating from Moody’s Investor Service and a BBB+ rating from Standard & Poor’s Financial Services. More information about Duke Realty Corporation is available at Duke Realty also can be followed on Twitter, LinkedIn, Facebook and YouTube.

Cautionary Notice Regarding Forward-Looking Statements

This news release may contain forward-looking statements within the meaning of the federal securities laws.  All statements, other than statements of historical facts, including, among others, statements regarding the company’s future financial position or results, future dividends, and future performance, are forward-looking statements. Those statements include statements regarding the intent, belief, or current expectations of the company, members of its management team, as well as the assumptions on which such statements are based, and generally are identified by the use of words such as "may," "will," "seeks," "anticipates," "believes," "estimates," "expects," "plans," "intends," "should," or similar expressions, although not all forward-looking statements may contain such words. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that actual results may differ materially from those contemplated by such forward-looking statements. Many of these factors are beyond the company’s abilities to control or predict. Such factors 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, if at all; (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) valuation of joint venture investments; (viii) valuation of marketable securities and other investments; (ix) valuation of real estate; (x) increases in operating costs; (xi) changes in the dividend policy for the company’s common stock; (xii) the reduction in the company’s income in the event of multiple lease terminations by tenants; (xiii) impairment charges, (xiv) the effects of geopolitical instability and risks such as terrorist attacks; (xv) the effects of weather and natural disasters such as floods, droughts, wind, tornados and hurricanes; and (xvi) the effect of any damage to our reputation resulting from developments relating to any of items (i) – (xv). 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 filings with the Securities and Exchange Commission.  The company refers you to the section entitled “Risk Factors” contained in the company's Annual Report on Form 10-K for the year ended December 31, 2018. Copies of each filing may be obtained from the company or the Securities and Exchange Commission.

The risks included here are not exhaustive and undue reliance should not be placed on any forward-looking statements, which are based on current expectations. All written and oral forward-looking statements attributable to the company, its management, or persons acting on their behalf are qualified in their entirety by these cautionary statements. Further, forward-looking statements speak only as of the date they are made, and the company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results over time unless otherwise required by law.

News Media Contact: Helen McCarthy, PR Manager, 317.708.8010,


Source: Duke Realty Corporation