Office building receives LEED Gold certification, and has been named “Building of the Year”
TAMPA, Fla. (February 7, 2014) – Extensive renovations for energy efficiency have paid off in a big way for Park Tower, a 36-story office building in downtown Tampa. The building has received the prestigious LEED (Leadership in Energy & Environmental Design) Gold certification, and was recently named “Building of the Year” at The Outstanding Building of the Year (TOBY) Awards.
The office building received LEED Gold certification in the Existing Buildings Operations and Maintenance category. LEED is a “green” building tool that recognizes best-in-class building strategies and provides third-party verification of green buildings. Buildings must satisfy prerequisites and earn points to achieve different levels of certification.
Park Tower, which bears the logo of its anchor tenant BB&T, has been a focal point of the downtown Tampa landscape since it was built in 1973. Starting in 2006, significant upgrades have been made to make the building a best-in-class model of energy efficiency, achieving a 99 percent Energy Star rating in 2013, one of only two buildings in Florida to have achieved this rating. Park Tower is now the most energy-efficient office tower in the Tampa Bay area.
Investments made in Park Tower have included the installation of two 750-ton, high-efficiency chillers, 5,600 high-efficiency light fixtures, a state-of–the-art energy management system, new electric transformers for each floor, a new fire panel and rewiring for the entire building. Since acquisition, owner Sterling American Property has invested over $11 million in the Tower.
“Our tenants appreciate how Park Tower’s ownership has dramatically upgraded the building, tied to its commitment to energy efficiency,” said Claire Calzon, who handles leasing of the building for Colliers International Tampa Bay. “The LEED Gold certification is truly an honor and reaffirms Park Tower’s status as a cornerstone of the downtown Tampa office market.”
Park Tower was awarded The Outstanding Building of the Year honor for buildings ranging in size from 250,000 to 499,999 square feet by the Building Owners and Managers Association (BOMA) of Greater Tampa Bay. The TOBY Awards were established in 1985 to honor quality in office building operations and excellence in office building management.
“The initiative to improve Park Tower’s energy efficiency follows in the footsteps of earlier LEED Silver and Gold projects completed by Sterling in major cities such as San Francisco, Chicago, Philadelphia and Sacramento, amongst others,” said Matt Harvey, Vice President of Asset Management for Sterling, which has acquired, developed or co-developed approximately 25.2 million square feet of office and 8.7 million square feet of retail property, as well as 65,000 residential units in 43 states.
In addition to making Park Tower more energy efficient, the updates have paid off for the office building’s tenants, such as the United States Attorney’s Office for the Middle District of Florida, Nestle and E Solutions.
Park Tower now advances from the local TOBY Awards competition to the Southern Regional competition, which will be held in March.
About Colliers International
Colliers International is a global leader in commercial real estate services, with over 13,500 professionals operating out of more than 482 offices in 62 countries. A subsidiary of FirstService Corporation, Colliers International delivers a full range of services to real estate users, owners and investors worldwide, including global corporate solutions, brokerage, property and asset management, hotel investment sales and consulting, valuation, consulting and appraisal services, mortgage banking and insightful research. The latest annual survey by the Lipsey Company ranked Colliers International as the second-most recognized commercial real estate firm in the world. For the latest international news from Colliers International, visit colliers.com/us/news, or follow us on Twitter: @ColliersIntl
About Sterling American Property
Sterling founded in 1972 as the investment vehicle for the Wilpon & Katz families, has evolved into a fully integrated real estate operating company that combines a hands-on management style with a national focus. Sterling operates from offices in New York, NY, and Great Neck, NY, where senior management oversees an experienced group of over 100 professionals. Centralized decision-making is strengthened by a local presence in a regional office located in St. Louis. Over the past 40 plus years, Sterling has applied an entrepreneurial approach to investing in and managing real estate, and achieved superior returns through the creation of value in both acquired and developed assets. Sterling has demonstrated success in all phases of the real estate cycle and in primary, secondary and tertiary markets. Sterling, directly and through the Sterling American Funds, has acquired or developed or co-developed approximately 25.2 million square feet of office property, 8.7 million square feet of retail property, and 65,000 residential units as well as mortgages in 43 states. Sterling has development or co-development more than 4.1 million square feet of Class A office product and more than 500,000 square feet of multifamily housing. Sterling, directly and through the Sterling American Funds, currently owns and manages or participates in the management of approximately 4.9 million square feet of commercial space and 11,900 multifamily units.