Duke Realty Gets LEED Certifications for Six U.S. Properties

Duke Realty Corporation DRE recently received LEED certification for six of its logistics properties across four states in the United States. Leadership in Energy and Environmental Design, commonly known as LEED, is a registered trademark of the U.S. Green Building Council.

LEED certification is an independent third-party that verifies whether or not the developing project meets the highest performance standards. Also, it works to ensure that the strategies used during the development are aimed at saving energy, reducing carbon dioxide emissions, improving water efficiency, enhancing indoor air quality, effectively using resources and checking environmental sensitivity.

The company’s six properties, which received LEED certifications are 5 Ethel Boulevard in Wood-Ridge, NJ, 16171 Santa Ana in Fontana, CA, 11600 Alameda St. in Lynwood, CA, 4323 Indian Avenue in Perris, CA, Chesapeake Commerce Center 6000 in Baltimore, MD and 901 Chase Ave. in Chicago, IL.

The LEED Certified designations were bestowed upon 5 Ethel, a warehouse spanning about 194,056 square feet, Chesapeake Commerce Center 6000, a building spanning about 182,000 square feet, 4323 Indian Avenue, an industrial building spanning an area of about 656,695 square feet and 901 Chase, a facility which spans about 154, 000 square feet.

The LEED Silver designations were received by 16171 Santa Ana and 11600 Alameda, the buildings spanning an area of about 282, 154 and 201,027 square feet, respectively.

Duke Realty applied some sound strategies to these building for receiving this certification. These included optimizing energy performance by using the highly-efficient HVAC ventilation systems, improving practices geared toward land protection mainly in densely developed areas, efficient waste management by storing and collecting recyclable materials to get rid of disposal in landfills and accommodating for green vehicles.

Duke Realty’s commitment toward building ecologically-sustainable projects became clear in January when it announced that it would develop only LEED certified buildings effective this year. Also, as certification increases the lease-up rates for such buildings, the company can enjoy better pricings.

Shares of this Zacks Rank #3 (Hold) company have rallied 8.6%, compared with the industry's decline of 9.4% in the past year.

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Note: Anything related to earnings presented in this write-up represents funds from operations (FFO) — a widely used metric to gauge the performance of REITs.

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