The LEED certification was the result of efforts between the building owner Barings Real Estate Advisers, acting on behalf of an institutional investor, and Cushman & Wakefield, which leases and manages the asset. LORD Green Real Estate Strategies and Facility Commissioning Group also consulted on the project.
“Cushman & Wakefield is extremely proud to have played a part in the LEED Gold certification of Millenia Lakes,” said Tim Rivers, Senior Managing Director of Asset Services, whose group employs four on-site management professionals at the property. “This is a tremendous achievement and would not have come to fruition without ownership foresight and commitment as well as the cooperation of our tenants.”
“From a leasing perspective, LEED certification carries a lot of weight in the market,” added Senior Director Jeff Sweeney, who oversees portfolio leasing along with Associate Austin Johnston. “Beyond the positive environmental impacts, obtaining LEED certification can reduce operational costs significantly for landlords and tenants alike.”
Millenia Lakes is a three-building, 414,472-square-foot, Class A office portfolio comprising Millenia Lakes I, II and III. The assets are located at 4700, 5323 and 5337 Millenia Lakes Boulevard in Orlando. Millenia Lakes was acquired by Barings Real Estate Advisers, acting on behalf of an institutional investor, in August 2014.
Millenia Lakes achieved LEED certification for implementing practical and measurable strategies and solutions aimed at achieving high performance in sustainable site development, water savings, energy efficiency, materials selection and indoor environmental quality.
In the process of securing LEED Gold certification, Cushman & Wakefield was able to reduce conventional commuting emissions by nearly 37 percent through the use of fuel-efficient vehicles by building occupants; reduce indoor plumbing water use by more than 30 percent through the installation of high-efficiency fixtures in restrooms; eliminate the use of potable water for irrigation; reduce annual CO2 emissions by nearly 2,600 metric tons through the installation of LED lighting in common areas and optimizing economizeroperations; reduce mercury content in lamps; recycle nearly 900 pounds of home and office electronic waste during a one-week event in April; and promote indoor environmental quality through the widespread use of sustainable cleaning products.
The LEED rating system is the foremost program for buildings, homes and communities that are designed, constructed, maintained and operated for improved environmental and human health performance. More than 79,600 commercial and institutional projects are currently participating in LEED, comprising more than 15.3 billion square feet of construction space in all 50 states and more than 161 countries and territories.
“The green building movement offers an unprecedented opportunity to respond to the most important challenges of our time, including global climate change, dependence on non-sustainable and expensive sources of energy and threats to human health,” said Rick Fedrizzi, CEO and founding chair, USGBC. “The work of innovative building projects such as Millenia Lakes is a fundamental driving force in the green building movement.”
Millenia Lakes I is a six-story, 200,360-square-foot building, featuring an elegant lobby, fitness center, food-service kiosk and a very generous 4.72 per 1,000 rentable square foot parking ratio. Built in 2001, the average floor plate at Millenia Lakes I is approximately 32,200 square feet.
Millenia Lakes II and III are approximately 107,000 square-foot, four-story, buildings built in 2006 and 2007, respectively. Both feature a generous 4.17 per 1,000 rentable square foot parking ratio and floor plates averaging approximately 27,000 square feet. The portfolio also includes a shovel-ready site referred to as Millenia Lakes IV with proposed designs for two Class A office buildings totaling approximately 255,750 square feet.
Millenia Lakes’ location provides exceptional visibility from Interstate 4 and convenient access to Florida’s Turnpike, the East-West Expressway (Sate Road 408), the Beachline Expressway (State Road 528), downtown Orlando, Orlando International Airport and a plethora of nearby dining and retail options. The site also features a man-made lake and paved walking path.
About Cushman & Wakefield
Cushman & Wakefield is a leading global real estate services firm that helps clients transform the way people work, shop, and live. Our 43,000 employees in more than 60 countries help investors and occupiers optimize the value of their real estate by combining our global perspective and deep local knowledge with an impressive platform of real estate solutions. Cushman & Wakefield is among the largest commercial real estate services firms with revenue of $5 billion across core services of agency leasing, asset services, capital markets, facility services (C&W Services), global occupier services, investment & asset management (DTZ Investors), project & development services, tenant representation, and valuation & advisory. To learn more, visit www.cushmanwakefield.comor follow @CushWake on Twitter.
Barings is a $275 billion global asset management firm dedicated to meeting the evolving investment and capital needs of our clients. We build lasting partnerships that leverage our distinctive expertise across traditional and alternative asset classes to deliver innovative solutions and uncompromising service. A member of the MassMutual Financial Group, Barings maintains a strong global presence with over 600 investment professionals and offices in 17 countries. Babson Capital Management LLC and Cornerstone Real Estate Advisers LLC are now operating as a unified company under the Barings name. Learn more at www.barings.com.
For Further Information Contact:
Senior Managing Director
Cushman & Wakefield
+1 813 204 5367
Cushman & Wakefield
+1 407 541 4429
David A. Meyer
+ 1 407 489 7488