JLL Income Property Trust, an institutionally managed, daily valued perpetual life REIT recently revealed that Pioneer Tower, a class A office asset in its portfolio located in Portland, has recently earned LEED Silver certification.
The 300,000-square-foot property also recently earned the U.S. Environmental Protection Agency’s ENERGY STAR certification, which signifies that the building performs in the top 25% of similar facilities nationwide for energy efficiency and meets strict energy efficiency performance levels set by the EPA.
To meet the energy reduction prerequisites for LEED certification, properties must benchmark energy consumption against similar buildings across the nation. JLL Income Property Trust completed an energy audit on Pioneer Tower, which identified several energy conservation measures to successfully meet the energy prerequisite.
“We are delighted that Pioneer Tower was able to meet the stringent criteria required to achieve both LEED and ENERGY STAR distinctions,” explained Allan Swaringen, President & CEO of JLL Income Property Trust, in a prepared statement. “As proactive asset managers focused on value-creation for our shareholders, we believe that implementing Environmental, Social and Governance principles across our portfolio has a direct impact on our investment performance.”
JLL Income Property Trust acquired Pioneer Tower in July, 2016, and has been working toward the goal of earning LEED Silver certification for the building since early 2017.
With contributions from the local property team, a sustainability consultancy and in-house energy and sustainability experts, the following project highlights were achieved at Pioneer Tower:
– 100% of durable goods diverted from landfills
– High-performance green cleaning program that minimizes the use of chemicals, while also providing increased air quality
– Replacing any lamps with higher mercury content with either LED or low-mercury content bulbs
– Conversion of older restroom fixtures to achieve maximum indoor water efficiency
– Engaging and educating tenants in green measures such as increasing alternative transportation methods, and also increased recycling diversion rates
“LaSalle Investment Management and JLL are proud to demonstrate their collective commitment to ESG best practices through Pioneer Tower’s first LEED and Energy Star certifications,” explained Eric Duchon, Global Head of Sustainability with LaSalle. “Much like the approach at Pioneer Tower, we will continue to seek out cost-effective methods to achieve certifications across JLL Income Property Trust’s portfolio through initiatives such as our LEED Volume Program, which achieves certification at half of the cost of historical LEED projects.”
Pioneer Tower is a 17-story, multi-tenant, class A office building in the heart of Portland’s central business district. Set atop Portland’s leading retail destination, Pioneer Tower offers a premium office experience within an unparalleled mixed-use urban environment and direct access to Pioneer Place, Portland’s number one shopping destination, while also offering convenient access to its Transit Mall, the city’s nexus of light rail public transportation systems.
Pioneer Tower is 95% leased to a diverse roster of professional service tenants whose average tenure of occupancy is more than 14 years.