One Museum Place
One Museum Place: Setting a New Bar for Sustainability in Shanghai
The 1.4 million-square-foot, 60-story prime office tower, One Museum Place, is a first in more ways than one. It was among the city’s first LEED®-Platinum certified office towers, and the first commercial project to receive RESET™ Air pre-certification status. In October 2019, One Museum Place achieved RESET Air (Core & Shell) Certification.
Completed in 2018, the world-class destination stands in prime location in Shanghai’s highly desirable Jing’an District, flanked by Natural History Museums and a renowned sculpture park. Designed and built to meet the highest standards in quality and sustainability, the project maximizes open space and park access, with close proximity to public transport including direct connection to the subway.
Inside, floor-to-ceiling glass throughout the office tower brings natural light deep into tenant spaces and highlights the unobstructed views. Occupants tap into biophilia with indoor and outdoor water walls, extensive landscaped plazas, roof terraces, and broad outdoor terraces. A six-story lifestyle-oriented retail podium features a variety of food and beverage offerings and provides people with daytime and evening opportunities for dining and relaxation.
ESG Ambition in Action
One Museum Place’s environmental accolades are based on its variety of proactive sustainability strategies. Green tactics include high-performance exterior façade glazing systems and insulation curtain, EV charging stations, vegetated roof areas with reflective roof materials that save energy. Solar panels have been installed and filled up the retail rooftop and rainwater collection systems that are filtered for restroom plumbing. Inside, an energy management system with sensors monitors air quality 24 hours a day, intelligent LED lighting saves energy with daylight dimming and occupancy sensors, and an ice storage AC system converts electricity into ice at night, reducing daytime electricity loads — among other features.
Occupant health is uplifted in many ways at One Museum Place, as exemplified by WELL Platinum status and RESET-award-winning indoor air quality. The tower’s sophisticated, continuous indoor air quality monitoring and management system deliver clean air with increased ventilation, air system filtering, real-time monitoring, germicidal and UV light filters — all managed by a full time indoor air quality manager on-site.
The team at One Museum Place also organizes health and wellbeing weeks to encourage both employees and tenants to participate. In addition to physical health, One Museum Place fosters a sense of community, including notably its focus on public art. In 2021, for example, many of China’s leading artists were invited to participate in creating a world-class gallery.
One Museum Place track record of excellence includes the 2022 ULI Asia Pacific Award for Excellence in land use practice; the 2021 Sustainability Achievement of the Year: RICS China Awards Excellence; LEED Platinum O&M certification; WELL Platinum certification; and the 2019 MIPIM Asia Silver Award - Best Green Development.
Investment Outcomes
With a growing focus on healthy and sustainable projects amongst tenants, One Museum Place stands out in the Shanghai tenant market.
On the investment side, Hines was once again recognized by GRESB for its sustainability leadership in 2023. According to the 2023 GRESB Standing Investments Benchmark Report, One Museum Place received a GRESB Five-Star Rating and this ranks in the top 20% among all GRESB Participants.
Disclaimer
Case Study is for illustrative purposes, and there is no guarantee that future investments will achieve the same results. The content herein is provided for informational purposes only. The content should not be relied upon as a basis for making an investment decision and is not an offer of advisory services or an offer to invest in any product or asset class. It should not be assumed that any investment in an asset class described herein will be profitable. Any opinions expressed in these materials are subject to change without notice. Opinions or beliefs expressed in these materials may differ or be contrary to opinions expressed by others. Certain information above and in the report has been obtained from third-party sources. Hines has not independently verified such information.