Triple LEED Platinum Certified

Purpose

Invesco Core Real Estate–USA demonstrates its commitment to sustainability by investing in assets with leading edge sustainability features that maximize efficiency, productivity and comfort. A remarkable example of this commitment is 1800 Larimer—one of the very few triple LEED Platinum-certified buildings. LEED Platinum is the highest LEED certification designation. Out of more than 24,000 LEED-certified commercial projects, fewer than 10% have earned LEED Platinum designation, according to the USGBC." data-share-imageurl="">

Wednesday, September 2, 2015

Purpose

Invesco Core Real Estate–USA demonstrates its commitment to sustainability by investing in assets with leading edge sustainability features that maximize efficiency, productivity and comfort. A remarkable example of this commitment is 1800 Larimer—one of the very few triple LEED Platinum-certified buildings. LEED Platinum is the highest LEED certification designation. Out of more than 24,000 LEED-certified commercial projects, fewer than 10% have earned LEED Platinum designation, according to the USGBC. 1800 Larimer is one of the only, if not the only, triple LEED Platinum-certified multi-tenant building in the world.

Approach

1800 Larimer is a 22-story building located in downtown Denver, CO. Invesco Core Real Estate–USA acquired the asset from the developer, Westfield Company, with its LEED for Core & Shell Platinum certification. In 2012, building tenant Xcel Energy’s office space received the LEED for Commercial Interiors Platinum certification, and tenant McGraw-Hill added to these accomplishments in September of 2014 with its LEED for Commercial Interiors Gold certification. Seventy-five percent of 1800 Larimer’s tenant fit-outs are LEED for Commercial Interiors certified. To ensure ongoing, high-performance operations, Westfield Property Services, Invesco Real Estate and LORD Green Strategies worked with building vendors, suppliers and tenants to achieve the prestigious LEED for Existing Buildings: Operations & Maintenance Platinum certification in 2014.

Results

1800 Larimer was developed by Westfield Company with construction commencing in spring/summer 2008. Significant pre-leasing commitments and leading edge sustainability attributes facilitated the closure of one of the last, large commercial loans of its kind in the U.S. in May of 2008, at the front of the economic downturn.

1800 Larimer’s success confirms tenants are hungry for modern, innovative spaces.   The building is currently 98% leased to local tenants including Monticello Associates, Inc., KRG Capital Partners, LLC, Westfield Company and Citywide Banks of Colorado, Inc. Investment grade tenants include Xcel Energy, McGraw-Hill and Newmark Grubb Knight Frank.

Completed in 2010, 1800 Larimer’s state-of-the-art systems and design elements include open floor plans with underfloor air distribution, advanced lighting features and floor-to-ceiling windows. These elements enhance tenant productivity and comfort and reduce operating costs as much as 40%.

1800 Larimer’s achievements include attaining a 43% reduction in indoor plumbing water use, maximizing the outdoor air ventilation rate, achieving outdoor views for 84% of occupied spaces, having more than 75% of the building LEED Commercial Interiors certified and earning the Environmental Protection Agency’s (EPA’s) ENERGY STAR® certification—ranking in the top tier in energy efficiency among similar buildings in the nation.

“As one of only a handful of Triple Platinum LEED-certified buildings in the world, 1800 Larimer is one of Invesco Core Real Estate–USA’s flagship properties. What makes this accomplishment even more significant is that it’s a multi-tenant building. It’s one thing for an individual corporation to build a sustainable building. It’s a step beyond to sustainably create and operate a property that attracts multiple tenants that, in turn, create their own sustainable space within the property.”

- William C. Grubbs Jr.
Managing Director
Lead Portfolio Manager
Invesco Core Real Estate – U.S.A.