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Kierland Commons in Scottsdale, Ariz., one of the BREEAM-certified properties. Image courtesy of CommercialEdge
Eleven Macerich properties have received certification under BREEAM’s In-Use standard. Totaling nearly 14 million square feet, the assets span seven states: Connecticut, New Jersey, New York, Arizona, California, Colorado and Virginia. The certification of the shopping centers was aided by an independent assessment team at UL Solutions.
Part of Macerich’s attempt to meet its sustainability goals by implementing asset benchmarking and certification, this achievement aligns with the company’s broader ESG objectives, which emphasize redevelopment and community stewardship.
READ ALSO: As Climate’s Impact on CRE Escalates, How Can Risk Be Managed?
Assessing the sustainability performance of retail assets can be a complex and intricate task, especially when dealing with existing infrastructure rather than new construction, said BRE’s US Director of Operations Breana Wheeler in a prepared statement.
Multi-level sustainability approach
Assessments for existing buildings require companies to evaluate internal and external impacts while making sustainable decisions. In pursuing BREEAM certification for its assets, Macerich said it aimed to ensure that a comprehensive and thoughtful multi-level assessment was carried out during certification, in line with this approach.
Macerich became the first organization in the U.S. to certify an asset under BREEAM in 2016 and is committed to achieving carbon neutrality by 2030 through measures such as the implementation of drought-resistant landscaping, using low-flow fixtures and monitoring technology to minimize waste and preserve freshwater resources. Additionally, the company aims to establish zero on-mall waste operations by reducing landfill waste and encouraging tenants to embrace sustainability practices.
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