May 8, 2023
LocationChicago, Los Angeles, Miami, New Jersey/New York, San Francisco, Seattle
The winners, announced at the DOE’s Better Buildings Summit in April, exemplify a growing shift toward sustainability and equity in commercial and industrial real estate strategy.
Chicago, IL (May 8, 2023) – Bridge Industrial (“Bridge”), a privately-owned, vertically integrated real estate operating company and investment manager, announced today that it has been named a 2023 Green Lease Leader by The Institute for Market Transformation (IMT) and the U.S. Department of Energy’s (DOE) Better Buildings Alliance. Bridge was honored with Gold recognition in the Landlord category.
Launched in 2014, Green Lease Leaders sets standards for what constitutes a green lease, while recognizing landlords and tenants who modernize their leases to spur collaborative action on energy efficiency, cost-savings, air quality improvement, and sustainability in buildings. This year, the Green Lease Leaders program grew by 31%, including 34 new winners, and represents portfolios totaling over three billion square feet.
Bridge has integrated green lease clauses in its standard form lease since 2021, as part of its efforts to promote sustainability and energy efficiency. The green lease clauses cover key sustainability elements including disclosure of the building’s ENERGY STAR score; provision of the tenant’s energy, water, and waste disposal utility data; cost-recovery provisions for energy efficiency upgrades that benefit the tenant; and use of renewable energy, if available. The green lease clauses also include as an addendum the Green Tenant Fit-Out Guide, which offers tenants resources and low-cost strategies that encourage sustainable operations.
“The green lease clauses are a key strategy in Bridge’s push to decarbonize our portfolio, and we are proud to be recognized by Green Lease Leaders for our successful implementation of these leasing standards,” said Francesca De Amicis, Bridge’s Vice President of Sustainability. Noting that industrial leases often limit the landlord’s control over its tenants’ operations, De Amicis adds that “Bridge has embraced the opportunity offered by green lease clauses to engage with our tenants and collaborate on sustainability initiatives.”
In July 2022, Bridge announced its alignment with the ULI Greenprint Net Zero by 2050 Goal. Bridge achieved carbon neutral primary operations in 2022 and is now working to decarbonize its portfolio and supply chain.
Bridge Industrial is dedicated to designing, building, and operating high performance, sustainable properties that create lasting value. Bridge acts as a steward of sustainability, resilience, and regeneration, delivering exceptional results for all its stakeholders.