The Phoenix office of Hines, the international real estate firm, announced today that 24th at Camelback II has achieved platinum certification under the U.S. Green Building Council’s LEED for 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 a construction waste 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.
Global Sustainability Officer Gary Holtzer, added, “Hines has a long track record of commitment to sustainable development, 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.