Calloway Real Estate Investment Trust

Calloway Real Estate Investment Trust

August 25, 2006 11:21 ET

Calloway Real Estate Investment Trust Achieves LEED® Registration on New Ontario Development

VAUGHAN, ONTARIO--(CCNMatthews – Aug. 25, 2006) –

Attention Business Editors:

Calloway REIT (TSX:CWT.UN) announced today that it has achieved a highly coveted LEED® (Leadership in Energy and Environmental Design) Core and Shell Development Registration (LEED-CS) on its latest phase of its 40 acre Wal-Mart anchored development in Welland, Ontario. The shopping center is located at the high traffic corner of Highway 406 and Woodlawn Road and is anticipated to house over 450,000 square feet of retail space upon completion. The development's first building will be a 20,000 square foot multi-tenanted building. Future plans call for another 16,000 square foot LEED® registered multi-tenant building and a 5,000 square foot stand-alone building on a 4.5 acre parcel. This phase of the development is a pilot project that is the culmination of 12 months of study and planning for the adoption of environmentally conscious development and management programs. The ultimate objective is to pass utilities and energy consumption savings on to tenant-clients who have the foresight to operate in these types of buildings.

As one of Canada's largest REITs, Calloway is committed to providing the required leadership to meet the environmental challenges of today and tomorrow. "Implementing best practices in sustainable technologies is a win-win proposition," says Scott Dutchak, Vice-President of Development, "good for the environment and good for business".

The LEED® Green Building Rating System for the LEED-CS® designation is for designers, builders, developers and new building owners who address sustainable design for new core and shell construction.

Alex Rebanks Architects Inc. of Toronto is the architect for the project. It is committed to bringing green sustainable design to the retail industry and is both a registered LEED®AP professional and a member of Canada Green Building Council.

The LEED® project manager is NORR Limited Architects and Engineers. NORR is a fully integrated architecture and engineering firm. Founded in 1938, the company has achieved a longevity and success that few other Canadian A&E firms can claim - contributing nearly 70 years of innovation and creativity to high profile, quality commercial and institutional building developments.

Calloway Real Estate Investment Trust is an unincorporated open-end real estate investment trust focused on the ownership and development of high quality retail properties. Calloway's purpose is to deliver to its unitholders stable and reliable cash distributions, which continuously increase over time. Calloway is Canada's largest owner of large format unenclosed retail properties with total assets of approximately $2.8 billion. It has ownership interests in a portfolio of 105 retail properties and 1 industrial property across Canada containing an aggregate of approximately 16.0 million square feet and 3.8 million square feet of future gross leasable area.

Contact Information

  • Calloway REIT
    Marc Charlebois
    Chief Operating Officer
    (905) 326-6400
    (905) 326-0783 (FAX)