SANTA MONICA, Calif., March 8, 2017 /PRNewswire/ -- Macerich (NYSE: MAC), one of the nation's leading owners, operators and developers of one-of-a-kind retail properties in top markets, and BRE America, the company that administers the BREEAM In-Use green building standard in the United States, today announced The Oaks is the country's first BREEAM USA In-Use certified building.
The new designation for The Oaks, located in Thousand Oaks, Calif., was highlighted at the annual BREEAM Awards ceremony in London yesterday.
The Building Research Establishment Environmental Assessment Methodology (BREEAM) rating system has a 25-year track record of driving efficiency improvements in new and existing buildings around the world. The BREEAM USA In-Use standard is designed to address the 5.6 million pre-existing non-residential structures in the U.S. that are not currently able to benchmark sustainability efforts using a scientifically-based green building certification.
"Macerich is a proven industry leader in sustainability, not only when it comes to new buildings, but also in terms of how we update, modernize and operate our well-placed established retail properties in top markets," said Jeff Bedell, Vice President, Sustainability, Macerich. "Measuring existing projects against strong environmental standards, such as BREEAM, confirms our integrated sustainability efforts are delivering results at the highest levels."
In partnership with Macerich, RealFoundations and building auditor Healthy Buildings implemented the BREEAM In-Use standard at The Oaks. Looking ahead, Macerich plans to work with Healthy Buildings to certify other properties in the portfolio.
Macerich chose to pilot the BREEAM In-Use program at The Oaks, the company's high-performing, 1.3 million square-foot property anchored by Nordstrom, Macy's, JC Penney, Muvico Theatres and DICK's Sporting Goods. The Oaks, originally built in 1978 with renovations in 1993 and 2009, incorporates a wide range of environmental upgrades including:
- 6,000 solar panels producing 1,652 kW of power
- LED Lighting with control protocols to minimize energy consumption and lower carbon footprint without any impact on shopping experience
- Upgraded HVAC system minimizes energy usage
- More than 500 tons of mixed recycling every year
- Integrated thermal controls in the common areas and mall offices regulated to save energy while providing a comfortable work environment
"With its clear dedication to sustainability in commercial real estate, it makes perfect sense that Macerich would have the first BREEAM USA In-Use certified building in the United States," said BRE America CEO Barry Giles. "We look forward to bringing the BREEAM USA In-Use registration and certification to properties across the country, because any building, no matter the size, age or performance level, benefits greatly from measuring and monitoring its environmental performance."
The BREEAM registration is the latest sustainability achievement for Macerich, which in 2016 was named Retail "Leader in the Light" by the National Association of Real Estate Investment Trusts (NAREIT) for an unprecedented third year in a row. Also in 2016, for the second straight year, Macerich earned a place on CDP's annual Climate A List. This ranking puts the company in the top 4% of 3,800 global companies that participate in CDP. As well, Macerich in 2016 earned the #1 ranking in the North American Retail Sector, based on scores published by Global Real Estate Sustainability Benchmark (GRESB) – the same top rank also earned in 2015.
About BRE America & BREEAM USA
BREEAM USA is a partnership between BRE Group, the world's leading authority on all aspects of the built environment, and BuildingWise, the award-winning U.S.-based LEED® certification consultancy, established to provide a sustainability certification and improvement solution to the 5.6 million existing buildings in the United States not covered by existing green building programs. For more information, please visit www.breeamusa.com
Macerich, an S&P 500 company, is a fully integrated self-managed and self-administered real estate investment trust, which focuses on the acquisition, leasing, management, development and redevelopment of regional malls throughout the United States.
Macerich currently owns 54 million square feet of real estate consisting primarily of interests in 48 regional shopping centers. Macerich specializes in successful retail properties in many of the country's most attractive, densely populated markets with significant presence in the Pacific Rim, Arizona, Chicago and the Metro New York to Washington, D.C. corridor. Additional information about Macerich can be obtained from the Company's website: www.macerich.com
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