Kimco’s Illumi-Nation Program Sparks New Era of Lighting Quality and Efficiency for its Shopping CentersBusiness Wire Press Release, October 29, 2014
Kimco Realty Corp., the nation’s largest publicly traded owner and operator of neighborhood and community shopping centers, today announced the formal launch of its Illumi-Nation Program, a property improvement initiative for exterior lighting systems that is expected to significantly reduce energy consumption and improve nighttime curb appeal.
Launching in Kimco’s Western region, the company plans to invest approximately $8 million over the next year to overhaul lighting systems at more than 100 properties by retrofitting and replacing older bulbs and fixtures with modern and environmentally-friendly technologies, such as LEDs.
The pilot program was initiated at Kimco’s 280 Metro Center in Colma, Calif. in which the property experienced a 32 percent reduction in common area energy consumption and improved lighting levels post retrofit. Based upon the cost savings and other benefits, the company plans to expand the Illumi-Nation Program across select properties in California, Oregon, Washington, Arizona, and Colorado over the next year and more broadly across its national portfolio in subsequent years.
While improved energy efficiency is one significant benefit of this new initiative, the planned projects will significantly improve the quality of exterior lighting throughout Kimco’s centers.
“Upgrading exterior lighting drives foot traffic to retailers, improves safety, and reduces operating expenses at our properties,” said Conor Flynn, President and Chief Operating Officer at Kimco. “The Illumi-Nation program continues Kimco’s advancement and commitment to finding sustainable solutions for improving our portfolio.”
Kimco has been recognized as a sustainability leader in the commercial real estate industry, recently winning the U.S. Department of Energy’s Lighting Energy Efficiency in Parking Award for its Gateway building controls program, which reduced average per-property common area electric consumption by 18 percent. Kimco has implemented numerous other sustainability initiatives in its California shopping centers, including installing eVgo and Tesla Supercharger electric car charging stations, and partnering with Pacific Gas & Electric Company to launch a collaborative effort to reduce tenant energy use in its shopping centers.
Kimco Realty Corp. KIM, is a real estate investment trust (REIT) headquartered in New Hyde Park, New York, that owns and operates North America’s largest publicly traded portfolio of neighborhood and community shopping centers. As of September 30, 2014, the company owned interests in 814 shopping centers comprising 117 million square feet of leasable space across 41 states, Puerto Rico, Canada, Mexico and South America. Publicly traded on the NYSE since 1991, and included in the S&P 500 Index, the company has specialized in shopping center acquisitions, development and management for more than 50 years. For further information, please visit http://www.kimcorealty.com, the company’s blog at blog.kimcorealty.com, or follow Kimco on Twitter at www.twitter.com/kimcorealty.
SOURCE: Kimco Realty Corporation
Kimco Realty Corporation
David F. Bujnicki
Vice President, Investor Relations and Corporate Communications
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