Glenborough Accepts BOMA's 7-Point Green Challenge
San Mateo, California, January 14, 2008 — Glenborough, LLC announced today that it has proudly accepted the Building Owners and Managers Association (BOMA) 7-Point Green Challenge put forth to it's members at the annual convention in July; to improve energy performance and pursue a portfolio-wide, 30% use reduction by 2012.
The Building Owners and Managers Association (BOMA) International announced their Market Transformation Energy Plan for its members and the commercial real estate industry on July 24, 2007.
The plan includes a 7-Point Challenge for members to reduce use of natural resources, non-renewable energy sources, and waste production and work in coordination with building management, ownership, and tenants to achieve the following goals:
7-Point Challenge:
- Continue to work towards a goal to decrease energy consumption by 30 percent across portfolios by 2012;
- Benchmark energy performance and water usage through EPA's ENERGY STAR® benchmarking tool;
- Provide education to building managers, building owners and operators, engineers, and others involved in building operations, to ensure that equipment is properly maintained and utilized;
- Perform an energy audit and/or retro-commissioning of buildings and implement low-risk, low-cost strategies to improve energy efficiency with high returns;
- Extend equipment life by improving the operations and maintenance of building systems and ensure equipment is operating as designed;
- Through leadership, positively impact your community and your planet by helping to reduce your industry's role in global warming; and
- Position yourself and the industry as leaders and solution providers to owners and tenants seeking environmental and operational excellence.
Improving energy efficiency and sustainability of real estate is a statement about leadership and social responsibility. Glenborough believes in providing quality service to our tenants, who will continue to require better, more efficient sustainable buildings. Glenborough's management is dedicated to supporting the development and compliance of our environmental programs to strategically improve the operations and energy performance of our buildings across the entire organization in an effort to protect the environment and help set the standard for our industry.
"We're committed to our energy use practices and accept the BOMA challenge," says Mike Steele, Glenborough's Chief Operating Officer. "We are an active partner with the EPA Energy Star Program and look forward to meeting and/or exceeding the BOMA 7-Point Green Challenge."
As an ENERGY STAR Partner since 2000; Glenborough is expecting within the next month to have more than 50% of its portfolio ENERGY STAR labeled. Having a high percentage of our portfolio ENERGY STAR labeled establishes Glenborough's facilities as being "Top-performing buildings" displaying the national symbol for protecting the environment through energy efficiency.
As the 2005 "Leader in The Light" Gold Award recipient from the National Association of Real Estate Investment Trusts (NAREIT) & U.S. Environmental Protection Agency, Glenborough will continue its commitment to superior and sustained energy use practices.
About the CompanyGlenborough, LLC is a private real estate investment and management company focused on the acquisition, management, leasing and development of institutional quality office properties. The company which was founded in 1978, returned to its private roots in 2006 after eleven years as an NYSE listed real estate investment trust. Glenborough has over $2.8 billion of assets under management including core, value add and development properties. Our primary investment markets are Northern California, Southern California, Denver and Washington DC. Visit www.glenborough.com to view our entire portfolio.