24th at Camelback I Certified for Over 300,000 Square Feet of… - Hines

24th at Camelback I Certified for Over 300,000 Square Feet of Connected Office Space

The certification signals the eight-story Class A office building can provide tenants with best-in-class connectivity

(PHOENIX) – Hines, the international real estate firm, and WiredScore announced today that 24th at Camelback, a 302,209-square-foot multi-tenant office building located in Phoenix, has achieved the designation of Wired Certified Gold.

The designation was assigned upon review of the building’s best-in-class connectivity, technological infrastructure and readiness to adopt to emerging technologies.

24th at Camelback’s certification continues Hines’ pursuit of excellence in digital infrastructure following prior Wired Certification designations in notable buildings and developments like River Point (Chicago), 7 Bryant Park (New York), 1251 Avenue of the Americas (New York) and T3 West Midtown (Atlanta).

24th at Camelback—completed in June 2000—includes approximately 10,738 square feet of ground-floor retail/restaurant space. The design features exterior cladding of green glass and Rosa Beta granite. The circular lobby, which connects the dual elevator cores, is finished with Fiore del Pesco marble and bird's-eye maple paneling. Hines sold 24th at Camelback in June 2018, but continues to serve as property manager.

Notable tenants benefitting from 24that Camelback’s best-in-class digital infrastructure include AAA Arizona, Cisco Systems, Greenberg Traurig, Presidio, Regus Business Centre, RSM and Scramble.

“The need for tech-enabled workspace has become increasingly clear, and by pursuing Wired Certification, we are prepared to meet modern tenant demand for best-in-class digital infrastructure. Achieving this certification would not have been possible without the extensive effort applied by property manager, Emily Albaugh, and New York Life Real Estate Investors, the investment manager for the building’s owner, who seeks to provide best-in-class services and amenities to its customers,” said general property manager Bill Marek.

In pursuing Wired Certification, 24th at Camelback underwent a comprehensive certification process that evaluated the aspects of digital infrastructure that support resilient, reliable internet connectivity for businesses. Upon review of the building’s internet service providers available to tenants, infrastructure redundancy, connection access points, and readiness to meet future tenant needs, a Wired Certification level is assigned based on the official standards developed by WiredScore and its connectivity advisory board.

24that Camelback has displayed highly advanced technological infrastructure that is essential for reliable, redundant Internet connections, thus earning the Wired Certified Gold designation.

The certification was given based on the building’s ability to provide tenants with features of connectivity that matter most: capacity to support future equipment installation, public Wi-Fi, multiple fiber pathways allowing physical diversity and four internet service providers offering high speed fiber connectivity, which provides tenants with flexibility when selecting internet service.

In addition to meeting standards for Wired Certification, the building has also been previously recognized with other awards and certifications for achievements in architecture and sustainability including earning the ENERGY STAR® label 15 times since 2002 and achieving LEED® Platinum certification earlier this year.

About Hines

Hines is a privately owned global real estate investment firm founded in 1957 with a presence in 219 cities in 23 countries. Hines has approximately $124.3 billion of assets under management, including $63.8 billion for which Hines provides fiduciary investment management services, and $60.5 billion for which Hines provides third-party property-level services. The firm has 148 developments currently underway around the world. Historically, Hines has developed, redeveloped or acquired 1,362 properties, totaling over 449 million square feet. The firm’s current property and asset management portfolio includes 514 properties, representing over 222 million square feet. With extensive experience in investments across the risk spectrum and all property types, and a pioneering commitment to sustainability, Hines is one of the largest and most-respected real estate organizations in the world. Visit www.hines.com for more information.

About New York Life Real Estate Investors

New York Life Real Estate Investors is a division of NYL Investors LLC, a wholly-owned subsidiary of New York Life Insurance Company. For more information please visit: http://www.newyorklife.com/realestateinvestors.

New York Life Real Estate Investors is a full service, fully-integrated real estate enterprise with more than 100 professionals. The division has market-leading capabilities in origination, underwriting, and investment in real estate equity products and related debt, including real estate equity investments, commercial mortgage loans and commercial mortgage backed securities. With over $56.3 billion in assets under management as of June 30, 2019 (1), New York Life Real Estate Investors is actively seeking to acquire additional properties throughout the U.S.

(1) Real Estate Investors AUM of $56.3B is gross and includes AUA ($1.4B) as of 6/30/19. Net AUM for Real Estate Investors is $55.8B as of 6/30/19.

About WiredScore

WiredScore is the organization behind Wired Certification, the internationally recognized digital connectivity rating system for commercial real estate that helps landlords design and promote their buildings’ great digital connectivity to tenants. Wired Certification champions cutting-edge technology in commercial real estate by providing the only certification for rating the infrastructure, connectivity and technological capacity of commercial buildings. WiredScore launched Wired Certification in 2013 in partnership with Mayor Bloomberg and the City of New York; in October of 2017, an investment group led by Bessemer Venture Partners and Fifth Wall Ventures acquired the company’s majority share. Since launch, more than 500MM square feet of commercial real estate in more than 2,000 buildings have been Wired Certified globally including buildings owned by premier landlords such as Blackstone, Brookfield, and Hines. International demand for the digital connectivity rating system has seen the company expand operations to the United Kingdom, France, Germany, and Canada. In an increasingly tech-driven economy, connectivity is fast becoming the most critical factor for tenants when selecting office space. The widely recognized Wired Certification seal is a trusted symbol that identifies buildings that have been independently certified to provide the best-in-class connectivity infrastructure that businesses require to thrive. For more information on Wired Certification or to find Wired Certified buildings, visit: http://wiredscore.com/

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