\nCurbline Properties Corp. (NYSE: CURB), an owner of convenience centers in suburban, high household income communities, announced today an update on the Company\u2019s Sustainability Programs.<\/p>\n
\n\u201cSince Curbline\u2019s spin-off, in addition to executing its growth strategy, the Company has been working to implement and advance sustainability initiatives that invest in our employees, properties and communities to position for the future,\u201d said David R. Lukes, President and Chief Executive Officer. \u201cUnder the leadership of our Sustainability Steering Committee, and consistent with the work undertaken over the last 8 plus years, we expect to complete the Global Real Estate Sustainability Benchmark (GRESB) assessment in 2026, continue to underwrite and analyze acquisition properties utilizing our sustainability framework, and remain active in the communities that our properties serve.\u201d<\/p>\n
Curbline Corporate Governance Highlights<\/b><\/p>\n
\nCurbline is committed to the highest standards of corporate governance, which ensures that the Company is managed for the long-term benefit of our stakeholders. Curbline monitors developments and best practices in corporate governance and considers feedback from stockholders when evaluating governance and policies. Highlights include:<\/p>\n
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- \nMajority voting for directors in uncontested elections and, beginning at the 2027 annual meeting, the annual election of all directors (with no ability to re-classify the board without stockholder consent thereafter)<\/p>\n<\/li>\n
- \n6 out of 7 directors serving are independent<\/p>\n<\/li>\n
- \nAnti-overboarding policy limiting service on other public company boards<\/p>\n<\/li>\n
- \nProxy access (3% ownership, 3 years, greater of 2 nominees or 20% of Board)<\/p>\n<\/li>\n
- \nAbility to amend Curbline\u2019s charter by majority vote, amend bylaws by majority vote, call special meetings (majority voting power), and act by unanimous written consent<\/p>\n<\/li>\n
- \nProhibition on pledging, hedging and other derivative transactions in Company securities by directors and officers and stock ownership requirements for directors and executive officers<\/p>\n<\/li>\n
- \nCode of Business Conduct and Ethics acknowledged by all employees with annual training programs and Code of Ethics acknowledged annually by the Company\u2019s senior financial officers<\/p>\n<\/li>\n
- \nVendor Code of Conduct requiring all vendors to comply with the Company\u2019s Code of Business Conduct and Ethics, applicable law and regulations<\/p>\n<\/li>\n
- \nThe facilitation of ongoing Cybersecurity Training to prevent and mitigate common threats and incidents<\/p>\n<\/li>\n<\/ul>\n
Curbline Social Sustainability Highlights<\/b><\/p>\n
\nCurbline\u2019s values and principles not only drive day-to-day operations and corporate culture, but serve as a guidepost for interactions with partners, convenience center tenants, and the communities in which we work and operate. The Company\u2019s primary human capital management objective is to attract, develop, engage and retain the highest quality talent. To support this objective, the Company offers competitive pay and benefit programs, with a broad focus on wellness designed to allow employees to meet personal and family needs. Highlights include:<\/p>\n
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- \n62% of Curbline employees have been with Curbline (or its predecessor) for over 5 years and 35% for over 10 years<\/p>\n<\/li>\n
- \nAll employees receive two paid days per year to volunteer for a local charity or make an impact on their community<\/p>\n<\/li>\n
- \nFull suite of benefit offerings, paid parental leave, company-provided life & disability benefits, company contributions to 401(k) and HSA<\/p>\n<\/li>\n
- \nEngagement with communities by supporting local entrepreneurship, hosting monthly small business markets that provide a platform for local business owners to thrive and connect with shoppers, and supporting nearby nonprofits<\/p>\n<\/li>\n<\/ul>\n
About Curbline Properties<\/strong><\/p>\n
\nCurbline Properties is an owner and manager of convenience shopping centers positioned on the curbline of well-trafficked intersections and major vehicular corridors in suburban, high household income communities. The Company is publicly traded under the ticker symbol \u201cCURB\u201d on the NYSE and plans to elect to be treated as a REIT for U.S. federal income tax purposes. Additional information about Curbline is available at www.curbline.com<\/a>. To be included in the Company\u2019s e-mail distributions for press releases and other investor news, please click here<\/a>.<\/p>\n
Safe Harbor<\/b><\/p>\n
\nCurbline Properties Corp. considers portions of the information in this press release to be forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, both as amended, with respect to the Company\u2019s expectation for future periods. Although the Company believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions, it can give no assurance that its expectations will be achieved. For this purpose, any statements contained herein that are not historical fact, including statements regarding the Company\u2019s projected operational and financial performance, strategy, prospects and plans, may be deemed to be forward-looking statements. There are a number of important factors that could cause our results to differ materially from those indicated by such forward-looking statements, including, among other factors, (1) changes in the economic performance and value of the Company\u2019s properties as a result of broad economic and local conditions, such as inflation, interest rate volatility and market reaction to tariffs and other trade policies; (2) changes in local conditions such as an increase or decrease in the supply of, or demand for, retail real estate space in our geographic markets; (3) the impact of changes in consumer trends, distribution channels, suburban population, retailing practices and the space needs of tenants; (4) our dependence on rental income which depends on the successful operations and financial condition of tenants, the loss of which, including as a result of downsizing or bankruptcy, could result in significant occupancy loss and negatively impact rental income from our properties; (5) our ability to enter into new leases and renew existing leases, in each case, on favorable terms; (6) our ability to identify, acquire, construct or develop additional properties that produce the cash flows that we expect and may be limited by competitive pressures, and our ability to manage our growth effectively and capture the efficiencies of scale that we expect from expansion; (7) potential environmental liabilities; (8) our ability to secure debt and equity financing on commercially acceptable terms or at all, including the ability to complete the sale and purchase of our private placement notes; (9) the illiquidity of real estate investments which could limit our ability to make changes to our portfolio to respond to economic or other conditions; (10) property damage, expenses related thereto and other business and economic consequences (including the potential loss of rental revenues) resulting from climate change, natural disasters, public health crises and weather-related factors in locations where we own properties, the ability to estimate accurately the amounts thereof and the sufficiency and timing of any insurance recovery payments related to such damages; (11) any change in strategy; (12) the effect of future offerings of debt and equity securities on the value of our common stock; (13) any disruption, failure or breach of the networks or systems on which the Company relies, including as a result of cyber-attacks; (14) impairment in the value of real estate property that we own; (15) changes in tax laws impacting REITs and real estate in general, as well as our ability to qualify as a REIT and to maintain REIT status once elected, and (16) our ability to retain and attract key management personnel. For additional factors that could cause the results of the Company to differ materially from those indicated in the forward-looking statements, please refer to the Company\u2019s Annual Report on Form 10-K under \u201cItem 1A. Risk Factors\u201d and our subsequent reports filed with the Securities and Exchange Commission. The Company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date hereof.<\/p>\n
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View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20250818729783\/en\/<\/a><\/span><\/p>\n
\nFor additional information:
\n
Conor Fennerty,
\n<\/i>
EVP and Chief Financial Officer
\n<\/i>
(216) 755-6200<\/i><\/p>\nKEYWORDS:<\/b> United States North America New York<\/p>\n
INDUSTRY KEYWORDS:<\/b> Retail Other Retail Environment Sustainability Commercial Building & Real Estate Construction & Property REIT<\/p>\n
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