(LOS ANGELES) – Hines, the international real estate firm, along with building owner OUE Limited, announced today that U.S. Bank Tower in Los Angeles has received Gold certification under the U.S. Green Building Council’s LEED for Existing Buildings (EB) Rating System.
U.S. Bank Tower is a 1.4 million-square-foot, 75-story office building located in the Downtown Los Angeles.
The tallest building in the Western U.S., it was designed by Henry N. Cobb and Harold Fredenberg of I.M. Pei and Partners and completed in 1990. OUE Limited acquired the property in June 2013 and engaged Hines to provide property management, tenant construction management and LEED consulting services.With plans to renovate the lobby and construct a public observation deck and restaurant on its top floors by the second quarter of 2015, OUE aims to reposition the building as both the premier commercial office location in downtown LA, and a world-class destination for visitors.
OUE’s President & Chief Executive Officer for the Americas Richard Stockton said, “LEED Gold certifies OUE’s strategy for establishing U.S. Bank Tower as a beacon of sustainability defining the Los Angeles skyline.”
Green features and sustainable programs and achievements include: more than 86 percent monthly landfill diversion through recycling and e-waste disposal; a high-performance green cleaning program; alternative commuting transportation in 64 percent of the building population; increased lighting controls to help reduce energy; reduction of carbon emissions; implementation of enhanced metering systems; enhanced indoor air quality systems; comprehensive construction waste recycling; and reduction in water use by over 30 percent.
In addition to earning LEED Gold, U.S. Bank Tower has earned the ENERGY STAR® label eight times since 2005.
With a current ENERGY STAR rating of 84, U.S. Bank Tower is 36 percent more energy efficient and annually saves $1.63 in energy costs per square foot ($2.59 million per year) when compared to the national average office building.
This translates to estimated annual greenhouse gas reductions equivalent 40,476 miles per year driven by the average passenger vehicle.
Hines General Property Manager Leia Jensen said, “Achieving LEED Gold Certification represents the successful collaboration of the on-site teams from OUE and Hines for the long-term economic and environmental benefit of our tenants.”
Hines Global Sustainability Officer Gary Holtzer added, “The U.S. Bank Tower team has implemented a number of Hines sustainability programs very effectively.
The benefits of these programs accrue to all the stakeholders – tenants, investors and the community.”
U.S. Bank Tower’s major tenants include: U.S. Bank; Hinshaw & Culbertson, LLP, Regus; and the Special Olympics.
About OUE Limited
OUE Limited (SGX-ST: “OUE”) is a diversified real estate owner, developer and operator with a real estate portfolio located in prime locations in Asia and the U.S. OUE consistently grows its business by leveraging its brands and proven expertise in developing and managing landmark assets across the commercial, hospitality, retail and residential sectors primarily in Singapore. With its core strategy of investing in and enhancing a stable of distinctive properties, OUE is committed to developing a portfolio that has a strong recurrent income base, balanced with development profits, to enhance long-term shareholder value. OUE is the sponsor of OUE Hospitality Trust and OUE Commercial REIT. For the latest news from OUE, visit us at www.oue.com.sg.
Hines is one of the most sustainable real estate companies in the world.
In 2014 Hines was recognized by the EPA, for the seventh 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 159 labelled buildings, representing more than 171 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 202 projects, representing more than 103 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.
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 1,317 properties representing more than 541 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 391 properties totaling 161 million square feet, which includes 89.1 million square feet for third parties. With offices in 115 cities in 18 countries, and controlled assets valued at approximately $28.2 billion, Hines is one of the largest real estate organizations in the world. Visit www.hines.com for more information.
U.S. Bank Tower