PHOENIX, AZ – The Phoenix office of Hines announced today that 24th at Camelback II has achieved Platinum certification under the U.S. Green Building Council’s LEEDfor Existing Buildings (EB) Rating System. The property, owned by Hines and an East Coast pension fund advised by Invesco, is the first LEED EB Platinum, and most efficient, multi-tenant property in Arizona.
The 11-story, 307,000-square-foot Class A office building was developed by Hines in 2010, and is located in the heart of Phoenix’s Camelback submarket.
In addition to earning LEED Platinum,24th at Camelback II earned the ENERGY STAR® label in 2012. With a current ENERGY STAR rating of 93, the campus is 46 percent more energy efficient than the average U.S. office building. This translates to an estimated $1.43 per rentable square foot in annual energy cost savings and annual greenhouse gas reductions equivalent to removing 557 passenger vehicles from the road.
Green features and programs include: reduced heat island effect through covered parking and reflective roofing; use of low-VOC materials and finishes; a 30 percent reduction in indoor, potable water usage; electronic waste recycling programs; a 60 percent reduction in landscaping-related water consumption; enhanced indoor air quality systems; and awaste diversion rate greater than 50 percent. Additionally, Hines offers its proprietary GREEN OFFICE for Tenants program, which is designed to assist tenants in greening their office space.
“Energy savings, equipment efficiencies, water conservation and recycling programs directly benefit the tenants in terms of lower operating costs. By achieving LEED Platinum, the local project team demonstrates to our owners, tenants, prospective tenants and the community that this property is being managed to the highest standard of excellence,” said Hines Director John Orsak.
Hines Global Sustainability Officer, Gary Holtzer, added, “Hines has a long track record of commitment to sustainable, and active leadership in the USGBC LEED programs. The 24th at Camelback II building is the firm’s latest commitment to sustainable development in Phoenix.”
Hines is a leader in Phoenix for sustainable real estate development and operations. 24th at Camelback II’s sister building, 24th at Camelback I, also managed by Hines, is ENERGY STAR labeled and certified LEED Gold under the Existing Building rating system. The US Airways headquarters building in Tempe, which was developed and is managed by Hines, is LEED Gold certified and is one of just five properties in the United States (and the only one in Arizona) to have earned 11 consecutive ENERGY STAR labels—one for every year since the building’s first full year of operations in 2000. Hines also owns and manages Renaissance Square, a two-building, LEED EB Gold, ENERGY STAR-labeled office complex in downtown Phoenix.
Hines is one of the most sustainable real estate companies in the world. In 2013 Hines was recognized by the EPA, for the sixth time, with the ENERGY STAR Sustained Excellence Award. In addition, Hines has received the ENERGY STAR Partner of the Year award three times. Hines manages 146 labelled buildings, representing more than 70 million square feet, in the ENERGY STAR program. Also, twelve Hines development or redevelopment projects, representing more than six million square feet, have been designated as Designed to Earn the ENERGY STAR.
Hines is also a leader in the U.S. Green Building Council’s programs, with 200 projects, representing more than 101 million square feet that have been certified, pre-certified or registered under the various LEED rating systems. Hines was a founding member of the German Sustainable Building Council and the Russian Green Building Council, and is active in the Green Building Council Brasil, the Green Building Council España, the Green Building Council Italia, the Indian Green Building Council, the BRE Environmental Assessment Method program in the United Kingdom and the Haute Qualité Environnementale program in France. To learn more about sustainability at Hines, visit www.hines.com/sustainability.
Hines is a privately owned real estate firm involved in real estate investment, development and property management worldwide. The firm’s historical and current portfolio of projects that are underway, completed, acquired and managed for third parties includes 1,283 properties representing more than 516 million square feet of office, residential, mixed-use, industrial, hotel, medical and sports facilities, as well as large, master-planned communities and land developments. Currently, Hines manages 378 properties totaling 151.9 million square feet, which includes 84.3 million square feet for third parties. With offices in 111 cities in 18 countries, and controlled assets valued at approximately $25.2 billion, Hines is one of the largest real estate organizations in the world. Visit www.hines.com for more information.
For Further Information Contact:
Kim Jagger, Hines
Denise D. Resnik, DRA