The San Francisco office of Hines, the international real estate firm, and New York-based Sterling American Property Inc., joint owners of 100 Montgomery Street in downtown San Francisco, announced today that the property has received Gold certification under the U.S. Green Building Council's LEED® rating system for Existing Buildings (EB).
100 Montgomery Street
This accomplishment, combined with the recent completion of the building's new exterior and state of the art Robert AM Stern Architects-designed lobby, completes the ownership's plan to invest $30 million (approx. 21.1 mln.) to return this 25-story building in the heart of San Francisco to its Class A status.
As a result of various upgrades and an intensive retro-commissioning process, 100 Montgomery annually saves $1.80 per square foot and generates greenhouse gas reductions equivalent to removing 270 passenger vehicles from the road, when compared to the average U.S. building. The building also uses 36 percent less water than it would if it were performing at the minimum federal standard for water efficiency.
Hines Senior Vice President Paul Paradis said, "As one of only four multi-tenant buildings in the entire Bay Area to achieve a LEED-EB Gold designation, we are extremely proud that our focused investment and management strategies have allowed 100 Montgomery to achieve this outstanding level of high performance."
Sterling American Property Senior Vice President of Asset Management Robert Bergman added, "The LEED Gold certification demonstrates the building's environmental integrity and our commitment to tenant well-being. We believe this validation will reinforce our value-add objectives while endearing existing tenants and attracting new ones."
Hines, in partnership with Sterling American Properties, acquired the property in 2006 and immediately introduced a number of programs that continue to reduce energy consumption and promote a healthier tenant work environment. Some of those initiatives include: participating in PG&E's Demand Response Program; retrofitting lights and lighting fixtures; reducing water demand by installing low-flow restroom fixtures; adding a shower and bicycle storage facility; implementing a comprehensive green cleaning program (with Green-seal cleaning products, microfiber equipment and HEPA filter vacuums); and starting a building-wide recycling and composting program that is expected to divert approximately 270 tons away from landfills in 2009. The property also possesses several green characteristics such as mechanical systems that allow for 100% outside air intake, operable windows, proximity to public transit and floor plate depths that allow significant natural light penetration.