Overstock.com Global Headquarters Awarded Prestigious LEED Gold Certification

Press Release, June 15, 2017

This press release is submitted and shown here in its original form, unedited by Furniture Today.

SALT LAKE CITY - June 15, 2017 - Overstock.com, Inc. (NASDAQ:OSTK) announced today that Peace Coliseum, its Utah-based global headquarters, has been awarded LEED Gold Certification. The LEED (Leadership in Energy and Environmental Design) rating system, developed by the U.S. Green Building Council (USGBC), is the foremost program for buildings, homes and communities that are designed, constructed, maintained and operated for improved environmental and human health performance.

Peace Coliseum achieved LEED certification for implementing practical and measurable strategies and solutions aimed at achieving high performance in: sustainable site development, water savings, energy efficiency, materials selection and indoor environmental quality.

“We’re proud Peace Coliseum is the latest LEED Gold Certified building on the Wasatch front,” said Overstock.com Senior Vice President Carter Lee. “Sustainability was not an afterthought on this project, it was a major goal from day one, and I’m proud to say we’ve built an environmentally responsible corporate campus that rivals anything else in Silicon Slopes.”

The building is capable of housing up to 2,000 associates in an open, welcoming space that sparks creativity, innovation and collaboration. This 231,000-square-foot structure resembles a classic Roman coliseum from the ground and the iconic peace symbol from the air. Travelers flying into Salt Lake City can see the peace sign embedded in the design from a window seat.

“From day one of designing our campus, it was imperative that Peace Coliseum reflected our company’s vibrant and innovative culture, and our commitment to a healthy and sustainable workplace,” said Meghan Tuohig, Overstock’s VP of People Care and head of the Peace Coliseum design project. “This LEED Gold Certification demonstrates our focus on environmental stewardship.”

Overstock worked with several Salt Lake City-based companies for the project, including: Gardner Company, which handled the real estate development; EDA Architects Inc., which was responsible for the iconic design of Peace Coliseum and submission for LEED certification; and Okland Construction, which brought the planned design to life.

“Achieving LEED certification is more than implementing sustainable practices. It represents a commitment to making the world a better place and influencing others to do better,” said Mahesh Ramanujam, president and CEO, USGBC. "Given the extraordinary importance of climate protection and the central role of the building industry in that effort, Overstock.com demonstrates their leadership through their LEED certification of Peace Coliseum.”

Attributes of the building that contributed to the LEED Gold Certification include:

The selection of a former EPA Superfund site as the location for the building;

Installation of View Dynamic Glass, which significantly reduces energy costs and improves employee comfort by automatically tinting based on the sun's orientation, time of year, and local weather conditions;

A heating and cooling system that uses Variable Refrigerant Flow technology that transfers heat energy created from the onsite data center to heat the building, resulting in energy usage 33% lower than the average comparable building;

Water-saving plumbing fixtures that will provide a 35% reduction in potable water use, which totals approximately 778,640 gallons saved per year;

Fresh air intake monitoring system that maintains an optimal CO2 balance;

Harvesting and manufacturing nearly one third of the construction materials from within 500 miles of Peace Coliseum, including over 14,000 cubic yards of locally-sourced concrete;

Sourcing nearly one quarter of construction materials from recycled components;

Adjacency to the UTA Trax commuter rail and other public transportation.

About Overstock.com

Overstock.com, Inc. Common Shares (NASDAQ:OSTK) / Series A Preferred (Medici Ventures’ t0 platform : OSTKP) / Series B Preferred (OTCQB:OSTBP) is an online retailer based in Salt Lake City, Utah that sells a broad range of products at low prices, including furniture, décor, rugs, bedding, and home improvement. In addition to home goods, Overstock.com offers a variety of products including jewelry, electronics, apparel, and more, as well as a marketplace providing customers access to hundreds of thousands of products from third-party sellers. Additional stores include Worldstock.com, dedicated to selling artisan-crafted products from around the world. Forbes ranked Overstock in its list of the Top 100 Most Trustworthy Companies in 2014. Overstock regularly posts information about the company and other related matters under Investor Relations on its website, http://www.overstock.com.

# # #

O, Overstock.com, O.com, O.co, Club O, Main Street Revolution, Worldstock and OVillage are registered trademarks of Overstock.com, Inc. O.biz and Space Shift are also trademarks of Overstock.com, Inc. Other service marks, trademarks and trade names which may be referred to herein are the property of their respective owners.

This press release contains certain 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. Such forward-looking statements include all statements other than statements of historical fact. Additional information regarding factors that could materially affect results and the accuracy of the forward-looking statements contained herein may be found in the Company's Form 10-K for the quarter ended December 31, 2016, which was filed with the SEC on March 3, 2017, and any subsequent filings with the SEC.

SOURCE: Overstock.com, Inc.

VIDEOS

  • Trashed In Vegas? Here’s a new take on reclaimed materials

    Camera Icon More Videos