NEW YORK– Cassidy Turley, a leading commercial real estate services provider in the U.S., announced today that 360 Lexington Avenue has been certified LEED Gold for Existing Buildings: Operations & Maintenance (LEED for Existing Buildings: O&M). 360 Lexington Avenue is owned by AEW Capital Management, L.P. (AEW), who owns the property on behalf of the AEW Core Property Trust, L.P., an open-end core real estate fund. Located near Grand Central Terminal, the multi-tenant building has 262,605 gross square feet and is currently undergoing an extensive capital improvement upgrade that includes a new state-of-the-art cooling plant, a new lobby, increased U roofing values to meet the latest energy code and improvements to the building envelope, among other items.
LEED is the nation’s preeminent program for the design, construction and operation of high performance green buildings, established by the U.S. Green Building Council (USGBC) and verified by the Green Building Certification Institute (GBCI). The Cassidy Turley team leading the LEED process for 360 Lexington Avenue included Jack Terranova, Senior Vice President, Principal, Dana Dinolfo, Assistant Property Manager, Joe Politi, Senior Property Manager, Joe Yacovone, Senior Managing Director, Evan Tyroler, Vice President of Sustainability Services, and Nicole Snarski, Sustainability Project Coordinator.
“AEW Capital Management is committed to growing their portfolio of LEED-certified buildings through creative, turn-key sustainability initiatives and Cassidy Turley is proud to partner with the firm on their second LEED Gold certified building in New York,” commented Mr. Terranova.
250 Park Avenue, which is also owned by AEW, was AEW’s first property in Manhattan to obtain LEED Gold OM certification. This process was completed by the same Cassidy Turley team in May 2011. 360 Lexington Avenue is the third building that Mr. Terranova and his team have brought through to LEED Gold OM status in the past four years.
“Earning LEED Gold Certification for 360 Lexington is a significant accomplishment for both the project team and our tenants,” said Dan Bradley, Senior Portfolio Manager for the AEW Core Property Trust. “AEW is committed to an environmentally responsible approach to property stewardship and the sustainability of the commercial property it owns on behalf of its clients, whenever possible.”
Cassidy Turley provided training for building management and engineering teams for operational requirements for green buildings. From research collected through tenant participation surveys, the Cassidy Turley team worked with vendors to upgrade recycling and green cleaning programs to improve waste diversion. The LEED Gold OM certification of the building was based on modifications to the operations and maintenance procedures that positively impacted the building itself and the broader community. The upgraded procedures and features included:
- Developing a comprehensive energy management program that included full building retro-commissioning, implementation of various energy conservation measures and an ongoing commissioning plan to ensure continued optimal building efficiency
- Implementing innovative recycling and green cleaning programs for waste diversion to improve employee and tenant environment
- Upgrading building lobby to include all new interior lighting, HVAC and desks
- Installing state-of-the-art cooling plant to optimize energy efficiency
In Manhattan, there are 34 LEED EB certified buildings, only eight are certified as LEED EB Gold, two of which are managed by Cassidy Turley and owned by AEW Capital. This strategic partnership and integration of sustainability best practices throughout New York contributes to a healthier environment for building tenants and the larger community. Notable tenants of 360 Lexington Avenue include the Alzheimer’s Association, Ganfer& Shore LP, and Perfect Building Maintenance.
About Cassidy Turley
Cassidy Turley is a leading commercial real estate services provider with more than 3,600 professionals in more than 60 offices nationwide. The company represents a wide range of clients—from small businesses to Fortune 500 companies, from local non-profits to major institutions. The firm completed transactions valued at $22 billion in 2011, manages 455 million square feet on behalf of institutional, corporate and private clients and supports more than 28,000 domestic corporate services locations. Cassidy Turley serves owners, investors and tenants with a full spectrum of integrated commercial real estate services—including capital markets, tenant representation, corporate services, project leasing, property management, project and development services, and research and consulting. Cassidy Turley enhances its global service delivery outside of North America through a partnership with GVA, giving clients access to commercial real estate professionals across the globe. Please visit www.cassidyturley.com for more information about Cassidy Turley.
The U.S. Green Building Council's LEED green building certification system is the foremost program for the design, construction and operation of green buildings. Over 32,000 projects are currently participating in the commercial and institutional LEED rating systems, comprising over 9.6 billion square feet of construction space in all 50 states and 114 countries. By using less energy, LEED-certified buildings save money for families, businesses and taxpayers; reduce greenhouse gas emissions; and contribute to a healthier environment for residents, workers and the larger community.
USGBC was co-founded by current President and CEO Rick Fedrizzi, who spent 25 years as a Fortune 500 executive. Under his 15-year leadership, the organization has become the preeminent green building, membership, policy, standards, influential, education and research organization in the nation. For more information, visit www.usgbc.org.
Founded in 1981, AEW Capital Management, L.P. (AEW) provides real estate investment management services to investors worldwide. One of the world’s leading real estate investment advisors, AEW and its affiliates manage $33.7 billion of capital invested in over $47 billion of property and securities in North America, Europe and Asia (as of March 31, 2012). Grounded in research and experienced in the complexities of the real estate and capital markets, AEW actively manages portfolios in both the public and private property markets and across the risk/return spectrum. AEW and its affiliates have offices in Boston, Los Angeles, London, Paris, and Singapore, as well as additional offices in nine European cities. For more information please visit www.aew.com.