24th at Camelback II Achieves LEED Platinum Recertification

(PHOENIX) — Hines, the international real estate firm, announced today that 24th at Camelback II has been recertified Platinum under the U.S. Green Building Council’s LEED for Existing Buildings: Operations & Maintenance (EBOM) Rating System. The property, owned by Hines and an East Coast pension fund advised by Invesco, first achieved LEED Platinum in 2013. At the time of original certification, it was the first LEED EBOM Platinum multi-tenant property in Arizona. Today, it remains the only LEED Platinum-EBOM Certified office property in the state.

The 11-story, 302,209-square-foot Class A office building was developed by Hines in 2010 and is in the heart of Phoenix’s Camelback submarket. 24th at Camelback II is located next to 24th at Camelback, an eight-story, 302,209-square-foot building, which Hines recently sold.

Some of the project highlights the team accomplished to achieve this prestigious certification include:

  • Reduced emissions from conventional commuting trips by 48.5 percent. This reduction was mainly attributed to the use of fuel efficient vehicles by building occupants.
  • Reduced indoor plumbing water use by 34.92 percent compared to standard fixtures. Existing high-efficiency fixtures will reduce water usage by approximately 813,000 gallons per year.
  • Reduced irrigation water use by 60 percent. Drip irrigation and native plantings contributed to this reduction.
  • Purchased 50 percent off-site renewable energy. Renewable energy certificates were purchased to offset the emissions for 50 percent of the building’s energy usage for two years. Together, the ECMs and offsets will result in an annual reduction of 970 Metric Tons CO2, which is equivalent to the emissions produced from the electricity use of 144 homes for a year.
  • Diverted 100 percent of durable goods waste. An electronics recycling event was held at the building for all building occupants resulting in a total of 2,213 pounds of office and home e-waste diverted from the landfill.
  • Purchased 84.54 percent sustainable cleaning products during the performance period. Sustainable purchases included Green Seal®-certified cleaning chemicals, as well as paper products with recycled content.

In addition to earning LEED Platinum, 24th at Camelback II has earned the ENERGY STAR® label every year since 2012. With a current ENERGY STAR rating of 93, the campus is 49 percent more energy efficient than the average U.S. office building. This translates to an estimated $1.41 per rentable square foot in annual energy cost savings and annual greenhouse gas reductions equivalent to removing 401 passenger vehicles from the road.

“By achieving LEED Platinum recertification, the local project team continues to demonstrate to our owners, tenants, prospective tenants and the community that this property is being managed to the highest standard of excellence,” said Hines Managing Director and City Leader Chris Anderson.

Hines Senior Vice President and Global Sustainability Officer Clayton Ulrich, added, “Hines has a long-standing commitment as an industry leader in sustainable, high-performance real estate and this Platinum recertification for 24th at Camelback II represents that.”

Hines is a privately owned global real estate investment firm founded in 1957 with a presence in 207 cities in 24 countries. Hines has approximately $116.4 billion of assets under management, including $64 billion for which Hines provides fiduciary investment management services, and $52.4 billion for which Hines provides third-party property-level services. The firm has 109 developments currently underway around the world. Historically, Hines has developed, redeveloped or acquired 1,319 properties, totaling over 431 million square feet. The firm’s current property and asset management portfolio includes 527 properties, representing over 224 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.