More than $9M Square Feet of New Development in Process for Certification
NEW YORK (October 6, 2021) Clarion Partners, a leading real estate investment manager and one of the largest owners and developers of logistics properties in the U.S., has developed a prototype for the certification of new development projects under the U.S. Green Building Council’s (USGBC) LEED v4 for Warehouse and Distribution Centers Volume Program. Clarion has more than 7 million square feet of new industrial development underway or soon to begin that is expected to achieve LEED certification over the next 6 to 18 months, with a pipeline of more than 13 million square feet of additional planned developments currently under review.
LEED, or Leadership in Energy & Environmental Design, is the most widely used green building rating system in the world and an international symbol of excellence in green building. First developed in 1994, LEED certification ensures electricity cost savings, lower carbon emissions and healthier environments for the places we live, work, learn and play.
Under the LEED Volume program, Clarion will achieve LEED certification for development projects in a more efficient and cost-effective manner as compared to pursuing certification of individual buildings under the standard LEED program, offering expedited opportunities for the Firm to deliver Class A, modern, logistics facilities that meet both our own ESG goals and those of our tenants. Clarion has implemented a standard review for all new industrial developments to evaluate the feasibility of LEED certification, finding that the vast majority can achieve the certification with a limited impact on overall project costs.
“The industrial sector – both owners and tenants – are adopting more stringent ESG standards, and we believe that achieving LEED certification for new developments will help us to attract and retain tenants who share our commitment to meeting ESG priorities in their supply chain,” said Dayton Conklin, Clarion’s Head of Industrial Transactions.
Clarion developed the LEED Volume prototype along with sustainability consultants Argento/Graham.
Argento/Graham (A/G) is a sustainability consultancy committed to helping clients develop cost-efficient buildings that prioritize environmental stewardship and human wellbeing. A LEED-accredited team of project managers, licensed professional engineers, and commissioning agents are working with Clarion to usher the industrial prototype through the rigorous LEED Volume program and are guiding project teams throughout the country towards LEED certification. A/G provides LEED certification management, building commissioning and energy efficiency consulting and is a certified Small Business Enterprise led by principals Annie Argento and Duke Graham.