Green and Silver in the Loop
Two press releases arrived today from our friends over at Hines, about two downtown skyscrapers.
First, the Citadel Center (131 South Dearborn) has been awarded LEED Silver status.
Second, 300 North LaSalle has been given an Award for Excellence for “[demonstrating] cross-regional lessons in real estate development.” I’m not sure what that means.
Press releases follow:
CITADEL CENTER AWARDED LEED SILVER
(CHICAGO) – The Chicago office of Hines announced today that Citadel Center has received Silver certification under the U.S. Green Building Council’s LEED® for Existing Buildings rating system. Owned by 131 South Dearborn, LLC, Citadel Center is currently managed by Hines. Dearborn Capital Group LLC is the asset manager.
Located in the heart of Chicago’s downtown business district, the 1.5 million-square-foot, Class A office tower was designed by James DeStefano and Ricardo Bofill, and was completed in 2003. The structure includes a low-rise portion on State Street and a 37-story tower to the west fronting on Dearborn Street.
Green features and programs include: high-efficiency fluorescent lighting in shared and tenant spaces; reflective window glazing; and a high-efficiency, raised-floor HVAC system which helps to provide occupants with more comfortable conditions, greater control over zone temperatures and, in warmer months, a more efficient system through which cool air is delivered at floor level and rising, warmed air is evacuated through ceiling ducts. Additionally, Hines offers its proprietary GREEN OFFICE for Tenants program, which is designed to assist tenants in greening their office space.
“We are delighted that Citadel Center has been recognized with this award which, in our view, reflects the efficiency of the building infrastructure as well as the superior operational management of the on-site team,” said Oren Richland, principal of Dearborn Capital Group.
Dearborn Capital Group, LLC is a private real estate and principal investment company based in New York City, with assets and portfolio businesses in New York, Chicago, Florida, Atlanta and Texas.
Hines is a privately owned real estate investment, development and property management firm, with offices in 106 cities in 17 countries, and controlled assets valued at approximately $23.7 billion, making Hines one of the largest real estate organizations in the world.
300 NORTH LASALLE WINNER OF URBAN LAND INSTITUTE’S AWARD FOR EXCELLENCE: THE AMERICAS
Sixth Hines Project to Win Top Honors in The Americas in 33 Years
(CHICAGO) – The Chicago office of Hines, the international real estate firm, announced today that 300 North LaSalle has been named a 2011 winner in the Urban Land Institute’s (ULI) Award for Excellence: The Americas competition. Widely recognized as the industry’s most prestigious recognition program, the award was announced during the ULI’s Real Estate Summit at the Spring Council Forum in Phoenix last week.
Located on the north bank of the Chicago River between the River North district and the Central Business District, 300 North La Salle contains 1.5 million square feet. The 60-story, glass and steel tower was designed by Pickard Chilton and developed by Hines in 2009. It was sold the following year to an affiliate of KBS Realty Advisors as part of the KBS REIT II portfolio. Hines stayed on as property manager. The building serves as the global headquarters for Kirkland & Ellis, which leases approximately half of the building space.
“This award affirms Hines’ ongoing commitment to superior design and the impact that a focus on sustainable development can have in today’s marketplace,” commended Hines Midwest Regional CEO Kevin Shannahan.
In its 33rd year, the ULI awards program defines the standard for real estate development practice worldwide. The Award for Excellence recognizes the full development process of a project – construction, economic viability, marketing and management – as well as design. Selected from among 148 entries, 300 North LaSalle was recognized for a variety of attributes, including sustainable development practices, community and economic impact and financial viability. The LEED®-Gold certified building maximizes natural lighting and minimizes solar gain, uses river water for cooling and features a half-acre plaza that has helped activate the riverfront.
This year’s honor marks the eighth time a Hines development has won an annual Award of Excellence competition. Past winners include: GM Renaissance Center – Detroit, MI (2008, The Americas); Meudon Campus – Meudon sur Seine, France (2007, Europe); 1180 Peachtree – Atlanta, GA (2007, The Americas, also designed by Pickard Chilton); Diagonal Mar – Barcelona, Spain (2004, Europe); Comerica Tower – Detroit, MI (1996); Wells Fargo Center – Minneapolis, MN (1989); and The Galleria in Houston (1979, first ever winner.)
All winning projects in the three regional ULI competitions (The Americas, Europe/Middle East/Africa, and Asia Pacific) advance for consideration in the ULI Global Awards for Excellence, which honor projects that demonstrate cross-regional lessons in real estate development. A renowned international jury selects up to five Global Award winners, which will be honored at a special ceremony during the ULI Fall Meeting.
KBS is one of the nation’s preeminent buyers of commercial real estate having completed approximately $20.0 billion in transactional volume since its inception.
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 1,126 properties representing more than 459 million square feet of office, residential, mixed-use, industrial, hotel, medical and sports facilities, as well as large, master-planned communities and land developments. With offices in 106 cities in 17 countries, and controlled assets valued at approximately $23.7 billion, Hines is one of the largest real estate organizations in the world. Visit www.hines.com for more information.