2023 Social Impact Report
One of Rockefeller Group’s Guiding Principles is “A love for people, a love for the city.” Through architecture, design, development and management, we believe real estate has the potential to positively impact people’s lives at home and at work.
Our Social Impact report sheds light on the various influences that our work in the built environment can have on people every day. For example, our industrial development in Spotswood, New Jersey, converted an underutilized brownfield site into a clean, productive facility, generating jobs, tax revenue, and civic pride where they had previously been eroded.
At another project we helped create new affordable and supportive housing. In 2020, we completed a residential facility for individuals with developmental disabilities on land we donated to the United Way of Bergen County in New Jersey. More recently, in 2024, we topped-out on construction of a new high-rise development in Brooklyn that will offer approximately 125 affordable units.
At our office buildings in Midtown Manhattan, we focus on the experience of the workplace, for
For nearly 100 years, Rockefeller Group has relied on its employees to embody our corporate values.
tenants and their guests, to provide a place where collaboration and productivity can flourish and people can do their best work. Our recent $50million renovation of the privately-owned public plaza at 1221 Avenue of the Americas provides a new amenity for the building and the larger community – an open outdoor meeting space surrounded by some of the city's best restaurants and iconic architecture.
This report also highlights our employees. For nearly 100 years, our employees have embodied Rockefeller Group’s corporate values and helped to grow our business. We are proud of their commitment and seek to provide a workplace in which they can thrive. We promote and encourage involvement in community service initiatives such as service in non-profit organizations, charitable contributions and volunteerism. We also offer a wide array of benefits and programs to enhance our employees’ well-being.
Finally, the report addresses some of the measures we take to anticipate risks that could impact our ability to operate our business at the worldclass level for which we are known.
Through initiatives like these, and the leadership of our employees, we’re proud to make a tangible positive impact on the communities in which we live and work. And we’re looking forward to growing that impact along with our business in the years ahead.
Daniel J. Moore President and CEO
ABOUT ROCKEFELLER GROUP
Since 1928, Rockefeller Group has transformed skylines, created economic value, and improved lives through the built environment in cities across the United States.
We develop, own and operate properties in seven U.S. regions. Our Core Holdings portfolio, which includes 1221 and 1271 Avenue of the Americas, totals approximately 5 million square feet of trophy-quality office space in Manhattan, while our development portfolio spans multifamily, office, industrial and mixed-use projects in 14 states across the country.
In all that we do, we aim to empower each of our employees to bring their own perspective, share their unique experience and knowledge, and to collectively drive new opportunities. This is achieved through an emphasis on innovation and collaboration.
Moreover, we share a commitment to maintaining the highest standards of integrity and to giving back to the communities in which we live and work.
Rockefeller Group’s vision and mission establish our perspective surrounding the transformative power of real estate.
Our Vision is to “Enhance human well-being through our passion for real estate and the built environment.”
Our Mission is to “Develop, own and operate extraordinary properties, delivering exceptional expe-
ROCKEFELLER GROUP OFFICE LOCATIONS
riences and financial performance, while creating value for our partners, customers and communities.”
In all that we do, we uphold five guiding principles:
1. A love for people, a love for the city – this underpins our business and guides our vision of improving people’s lives and the cities where they live and work. We work hard at work worth doing.
2. Integrity & fairness – these are the hallmarks of our brand and reputation, embodied by our employees and reflected in our relationships
with colleagues, clients, partners, and the communities where we work.
3. Quality – in all of the properties we develop, own or manage, the details matter.
4. One team – we value a diverse workforce, and an equitable workplace, where all team members have the opportunity to realize their full potential.
5. Growth mindset – we’re future focused with ambitious goals for growth.
COMMUNITY ENGAGEMENT
Rockefeller Group creates and maintains strong ties in the communities where we operate, using strategic partnerships, volunteer programs, and charitable contributions.
We seek to positively impact our communities as part of our property operation and development. Among recent efforts are:
• A recently finished $50M renovation of our privately-owned public plaza at 1221 Avenue of the Americas, transforming a 50-year-old space into a more accessible park with a deep blocklong pedestrian area at street level. The street level and concourse plaza connected by a large staircase with stadium seating offers the public an escape from the busy sidewalks of Avenue of the Americas. This revitalized block-long slice of pedestrian-friendly real estate in America’s largest city provided an unanticipated benefit — its new-found popularity with visitors to the area during the holiday season for holiday photos.
• A brownfield cleanup in Spotswood, New Jersey. Having operated as a paper manufacturing plant from 1928-2020, the site presented a number of environmental challenges. We demolished the existing asbestos-containing building, cleaned up the soil, and constructed a new 645,640 sq. ft. warehouse that will provide new jobs for the area. We also donated a 28-acre parcel that we acquired with the building site to the Town of Spotswood, which plans to use the land for sports fields and park land.
• In 2020, we completed construction of a 62-unit supportive housing residential development
at the Green at Florham Park in Florham Park, New Jersey. The project was built by Rockefeller Group on land that we donated to Bergen County’s United Way to serve adults with developmental disabilities including autism and multiple sclerosis.
• In 2023, we donated a 2-acre parcel at the Green at Florham Park to the Town of Florham Park for use as a fire station, first responder station, or other municipal purposes.
• We are currently constructing 16 Dupont, a 381unit residential building in Brooklyn, New York. In addition to the environmental benefits provided by our first all-electric multi-family building, we are reserving one-third of the building’s units for affordable housing.
In keeping with Rockefeller Group’s guiding principles of love for people and a love for the city, we are proud to support a number of community programs, including the following:
• Our New York City office hosts an annual Peanut Butter & Jelly Day, when Rockefeller employees prepare over 1,900 sandwiches for St. Francis Food Pantries.
• Since 2016, we have sponsored the annual Bike New York’s Five Boro Bike Tour. The event helps fund Bike New York’s free bicycle education programs, which teach adults and children around New York City to ride safely and confidently. We also field a team of our employees who ride in the Tour each year.
• We provide financial support to the Partnership for New York City’s Homeless Assistance Fund. The Fund works with Breaking Ground, a provider of homeless housing and services, to assist homeless people in midtown Manhattan.
COMMUNITY ENGAGEMENT
We provide financial support to many charitable causes and not-for-profit organizations, including:
• Nazareth Housing, which addresses issues of homelessness and other social needs of vulnerable New Yorkers; a member of our senior leadership team sits on the Board.
• Homeless Solutions, an organization addressing the issues of homelessness in Morris County, New Jersey; a member of our New Jersey Region is on the Young Professionals Board.
• Elizabeth Seton Children’s Center in Yonkers, N.Y., which provides clinical and rehabilitative care of medically complex and technology-dependent children.
• The Building Block Foundation Fund, an organization of commercial real estate professionals that provides financial support to charities in Orange County, California, that supports underprivileged youth; a member of our West Coast Region sits on the Board.
Our employees give back through their time and resources to organizations and initiatives such as:
• Habitat for Humanity’s Women Build, a program seeking to empower women to help families build strength, stability and independence.
• Family Promise, an organization that addresses the needs of homelessness in Morris County, New Jersey.
Rockefeller Group also supports education for high school and college-age students. Toward this
end we participate in the following initiatives collectively and through the commitment of individual employees:
• ACE Mentoring Program helps prepare high school students for careers in design and construction through mentoring by industry professionals; employees in several of our regions sit on local ACE Boards. For over five years, our New York Design & Construction team has hosted an annual mentoring program for approximately 25 ACE participants, and award one scholarship annually.
• Each year, the Partnership for New York City, together with the New York City Department of Education, runs a Career Discovery Week. As part of the program, we host a career day at our New York office for a group of public high school students. Employees from all levels of the Company, including our CEO, meet with the students to discuss our industry and careers the students might consider in the future.
• A member of our Mid-Atlantic Region serves on the Realty Advisory Board for Virginia Tech and, as part of her involvement, mentors students at the University.
• We fund college scholarships for diverse, talented students through Project Destined.
• A member of our senior leadership team serves on advisory boards and regularly lectures students at Notre Dame and The Wharton School at the Univeristy of Pennsylvania.
In addition, we encourage our employees to participate in their communities, matching their charitable contributions and making grants to organizations where our employees volunteer their time.
TENANT ENGAGEMENT AND SUPPORT
Rockefeller Group is committed to fostering a supportive relationship with our tenants. We strive to provide them with information that will enhance their experience as occupants of our properties, and we enlist their involvement in our efforts to make our properties more sustainable. We also engage with our tenants to understand their concerns and priorities in order to be responsive to their individual needs.
Our Core Holdings’ Standards, Specifications, and Guidelines provides guidance to tenants on how they can design, construct and renovate their space in a manner that prioritizes the health and well-being of building occupants, reduces environmental impacts, optimizes energy and enhances water efficiency.
Furthermore, at our Core Holdings properties:
• We host sustainability-focused events to engage and educate Core Holdings tenants on our corporate sustainability programs and initiatives. At these events, we present strategies for tenants to incorporate sustainability and efficiency into their own spaces, information on our Environmental Management System, and ways tenants can reduce carbon emissions ahead of Local Law 97 emission targets. Recent presentations have focused on composting and energy management.
• We conduct annual asset-level surveys to help identify what works and what might benefit from change. We recently added the Kingsley Tenant Survey, a highly respected industry
means of measuring tenant satisfaction. Across the key performance indicators of Overall Satisfaction, Management Satisfaction and Leasing Satisfaction, Rockefeller Group performed higher than the Kingsley Index of peer companies, with our management satisfaction rate quoted at 4.71 out of 5 points.
• We work closely with our tenants to ensure that their operations can continue in the event of a disruption. We provide guidance and support on business continuity planning, and encourage tenants to develop their own plans to ensure they are prepared for emergencies.
• We work with our tenants to help mitigate cybersecurity risks, providing guidance on cybersecurity best practices, such as password management and phishing awareness.
• We conduct community enhancement programs. Recent tenant events have included tenant gatherings for March Madness, All-Star Baseball, a Fall Festival, and a Holiday Mixer, as well as a blood drive, a holiday toy drive, and an e-green e-waste recycling drive.
At our development projects, our Design & Construction guidelines contain sustainability parameters for project occupants designed to enhance well-being and mitigate the environmental impact of the building.
OUR COMMITMENT TO OUR EMPLOYEES
At Rockefeller Group, we recognize that our employees are the cornerstone of our success and the embodiment of our values. Our commitment to fostering a workplace culture of respect, inclusion, and growth enables our employees to thrive both professionally and personally. We are dedicated to ensuring that every member of our team feels valued and has the opportunity to contribute to our collective achievements.
Employee satisfaction
On a regular basis, Rockefeller Group performs strongly in employee satisfaction surveys that are conducted by outside third-party organizations:
• In the 2022 Crain’s Best Places to Work in NYC survey, Rockefeller Group employees responded that they feel “this organization treats me like a person, not a number.” This feedback reflects Rockefeller Group’s investment in personal growth and expression.
One Team
Rockefeller Group celebrates the value of One Team, represented by a diverse workforce and an equitable workplace, where all team members have the opportunity to realize their full potential. We support real estate industry efforts to encourage careers for women through participation in organizations such as CREW Network and WX. We strive to create an environment in which all our employees understand that they are an integral part of our team.
• In the 2022 Great Place to Work® Trust Index© Survey, employees stated that “our executives fully embody the best characteristics of our company.” 93% of employees said they are “proud to work for Rockefeller Group,” an outcome that we believe is responsive to the Company’s strong leadership and track record of success.
COMPANY CULTURE AT ROCKEFELLER GROUP INTERNATIONAL INC.
90% of employees at Rockefeller Group
International Inc. say it is a great place to work compared to 57% of employees at a typical U.S.-based company.
At Rockefeller Group, our employees say:
I am proud to tell others I work here. 93%
I am able to take time off from work when I think it’s necessary. 93% Our customers would rate the service we deliver as “excellent.” 93%
When you join the company, you are made to feel welcome.
Our executives fully embody the best characteristics of our company. 92% 93%
*2022 Great Places to Work survey of Rockefeller Group employees.
EMPLOYEE BENEFITS AND PROGRAMS
Rockefeller Group is proud to provide employees with access to the following:
• Comprehensive Medical, Dental, and Vision Plans with Employee Advocacy Resources
• Telemedicine
• Company matched 401K
• Health Savings Accounts (HSA), with employer contribution & Flexible Spending Accounts (FSA)
• Life & Disability Insurance including Supplemental Insurance Benefits
• Group legal assistance
• Commuter benefits
• Employee Assistance Program for family/ life needs
We prioritize the wellness of our employees and their families. It’s why we offer:
• Reimbursement of 75% of eligible health club expenses
• On-site flu vaccination
• An employment assistance program providing consultation and referrals to treatment resources to assist employees with personal issues
• Mental health resources through AbleTo
• Cariloop Caregiving Services
• Group sporting events and activities, including the JP Morgan Corporate Challenge and an intracompany pickleball club
We make the following available to our employees:
• On-site dining area with complimentary beverages, healthy food and snack choices
• Employee events throughout the year such as breakfasts, lunches, happy hours, ice cream socials, and holiday gatherings
• Summer hours to provide additional flexibility during that season
Programs
We offer a number of other programs for our employees, including the following:
• Employee Volunteer Grant Program providing financial support to eligible organizations to encourage employee volunteerism.
• Financial reimbursement to support adoption of children under the age of 18.
• Tuition reimbursement for full-time salaried employees who wish to obtain a degree in real estate or a related field and for professional development courses and seminars.
• 4-year scholarships to the children of Rockefeller Group employees graduating from high school; selection is merit-based and made by an independent panel of education professionals.
• Matching Gift Program enhancing employee’s personal contributions to eligible not-for-profit organizations.
GOVERNANCE AND ETHICS
Rockefeller Group recognizes the importance of proper governance, ethics, and risk management. We are committed to upholding the highest standards of corporate conduct, ensuring accountability at all levels of operation. Furthermore, our proactive risk management strategies are designed to identify, assess, and mitigate potential risks, safeguarding our stakeholders and reinforcing the resilience of our business. Through these efforts, we maintain our commitment to being a trustworthy partner and ethical leader in the industry.
Code of Conduct
Rockefeller Group’s reputation for honesty and integrity in the conduct of its business rests upon the actions of all its employees and is imperative to its success. Our Code of Conduct assures that our employees act with integrity and in accordance with the highest standards of honest and ethical conduct. Among other things, the Code:
• requires compliance with laws
• mandates fair and honest competition
• assures confidentiality of information
• requires maintenance of books and records so that they fully and fairly reflect financial transactions
• prohibits discrimination and harassment
Employees are required annually to certify compliance with the Code of Conduct.
RISK MANAGEMENT
BUSINESS CONTINUITY
At Rockefeller Group, maintaining a robust, adaptive risk management framework is an integral part of our governance strategy. Our Enterprise Risk Management Committee conducts a comprehensive analysis of potential risks shaping the landscape of our operations, evaluating risks such as cybersecurity, fraud avoidance, assurances of following corporate policies, and anticipating the impact of extreme weather phenomena, as well as regulatory changes. We classify risks based on their likelihood, and the impact of these risks is assessed across financial, operational, and reputational dimensions. This process also informs our annual budget forecasts, allowing us to weave risk responsiveness into the fabric of our financial strategies and permitting us to focus on the most pressing challenges that we face.
CYBERSECURITY
Cybersecurity is increasingly a critical concern for businesses and employees. We are committed to protecting our data and systems, and safeguarding our employees from cyber threats. We recognize that a cybersecurity breach can have significant impacts on our operations, our tenants, our employees and the broader community, and we have implemented a range of measures to mitigate these risks.
These measures include policies, procedures, and technical controls designed to ensure the confidentiality, integrity, and availability of our information systems and data. In the event of a cybersecurity incident, we have a well-defined incident response plan in place to detect, contain, and mitigate the impact of the incident.
Business continuity is a critical aspect of our governance strategy, and we have implemented a range of measures to ensure the preparedness of our personnel and the resilience of our operations.
• Our business continuity plan outlines steps managers and employees will take in the event of a disruption, whether it is a natural disaster, a cybersecurity incident, or another unforeseen event. The plan includes procedures for emergency response, communication, and recovery, and is regularly reviewed and updated to ensure its continued effectiveness. The plan also includes a risk assessment that identifies the potential impact of different types of disruptions on our business operations, helping us to prioritize response efforts.
• We have implemented a range of technical measures, including redundant data centers, backup and recovery, and remote access that allow our employees to work in the event of a disruption.
