Parallel Capital Partners Announces Energy Star Certification for City Square in Phoenix

Three-Building Class A Office Complex in Top 25% of Performers Nationwide
By: Parallel Capital Partners
 
Aug. 2, 2012 - PRLog -- Parallel Capital Partners, Inc. has announced that City Square, a Class A office property located in midtown Phoenix, has achieved Energy Star certification for its three high-rise office towers. Energy Star is a national program that distinguishes the property as one of the top 25% in the nation in terms of energy performance and environmental leadership.

The City Square Office Towers comprise three office buildings at 3800, 3838 and 4000 N. Central Avenue. The Towers range in height from 17 to 23 stories and offer a total of 737,403 leasable square feet. They are part of Phoenix City Square, the largest mixed-use commercial development in Arizona, which includes a 156-room Hilton Garden Inn, a 35,000-square-foot Sports Club and 2,230 parking spaces, all situated on 16 acres in midtown Phoenix.

“Our primary focus in realizing these optimal energy reduction results has been first to educate our property management and engineering staffs and then to educate the tenants of the buildings,” said Matt Root of Parallel Capital Partners. “We made all occupants of the buildings a part of our team by allowing them to take part in implementing energy-saving tools and practices in the course of managing their businesses.”

Root added that the combination of redefining maintenance and operations procedures as well as upgrading to more energy-efficient equipment and systems has allowed Parallel Capital Partners and City Square to attain substantial savings while at the same time benefitting the environment.

Based on a recent report released by the Environmental Protection Agency (EPA), Phoenix now ranks among the nation’s top 20 metropolitan areas in terms of energy efficiency. In Phoenix, 143 Energy Star certified buildings help save $20.6 million annually in utility bills.

Commercial buildings that earn the EPA's Energy Star certification must perform in the top 25% of similar buildings nationwide. Their performance must be independently verified by a licensed professional engineer or a registered architect, and on average they use 35 percent less energy than other buildings of the same type.

“This year marked the 20th anniversary of the Energy Star program, and today Energy Star certified buildings in cities across America are helping to strengthen their local economies and protect the planet for decades to come,” said EPA Administrator Lisa P. Jackson.

Parallel Capital Partners, Inc. (parallelcapitalpartners.com) is a real estate investment and operating firm that focuses on office, industrial and retail property acquisition in markets in the western U.S. and Hawaii. The company identifies opportunities where assets are undervalued and uses restructuring, capital improvements and superior leasing and management to turn value-added opportunities into core properties.
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Source:Parallel Capital Partners
Email:***@parallelcp.com
Tags:Parallel Capital Partners, City Square, Energy Star, Matt Root, Epa
Industry:Real Estate, Environment
Location:Phoenix - Arizona - United States
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