Class A Office Tower on Las Olas Blvd. Achieves Coveted LEED Platinum Certification
Posted on 9/29/2022Stiles Property Management and PGIM Real Estate are pleased to announce that 200 East Las Olas, a 21-story mixed-use Class A office tower in the downtown Fort Lauderdale central connectivity district, has achieved LEED Platinum certification. LEED (Leadership in Energy and Environmental Design), developed by the U.S. Green Building Council (USGBC), is the most widely used green building rating system in the world and an international symbol of excellence. Platinum is the highest level attainable by the USGBC, showing exemplary leadership in sustainable building practices. 200 East Las Olas is managed by Stiles Property Management, the property management division of the Southeast-based full-service development firm Stiles, and owned in partnership by Stiles and PGIM Real Estate, the $206.8 billion real estate investment and financing business of global asset manager PGIM.
"Green buildings provide strong financial incentives to both owners and tenants to reduce utility bills in the face of rising energy costs," commented Stiles Property Management President Chris Rotolo. "Cultivated from decades of development and ownership experience, our sustainability program is one of the most effective in reducing building operating expenses while maximizing the value and performance of buildings. As a result of our initiatives, we are proud to report that our clients generally achieve a ten percent reduction in operating expenses only 30 days after we take over an assignment."
200 East Las Olas achieved LEED certification for implementing practical and measurable strategies and solutions in areas including water savings, energy efficiency, materials selection and indoor environmental quality. The rating system evaluates environmental performance from a whole building perspective over a building's life cycle, providing a definitive standard for what constitutes a "green building."
"Driven by a core belief that corporations have a responsibility to their local community and the global environment, Stiles has consistently taken a strong, proactive approach to resource conservation, waste reduction, environmental protection, and sustainability with its use of state-of-the-art technology," stated the USGBC report to Stiles.
The management team on 200 East Las Olas consists of Senior Property Manager Paige Miller, Assistant Property Manager Daychelle Trim, Building Engineer Lance Keller, and Maintenance Technician Musset Pierre. Developed by Stiles in 1989, 200 East Las Olas was the first Class A office project to be erected on Las Olas Blvd. The 21-story mixed-use office tower features panoramic views of downtown, the ocean and the New River. The property has undergone several renovations, the most substantial of which took place in 2018 and included lobby, lighting, elevator, and interior design upgrades.
According to USGBC studies, energy savings for green buildings average 25% over conventional buildings, which equates to annual savings of $135,000 for a typical 200,000 square foot office building. In addition, some of the same green design features that make buildings less expensive to operate also result in more contented, productive and healthy workers.
Stiles is a full-service commercial real estate firm with a clear mission: Invest. Build. Manage. Stiles services include development, construction, tenant improvement, real estate brokerage services, property management, architecture, acquisitions and financing. Headquartered in Fort Lauderdale, Stiles maintains regional offices in Miami, Fort Myers, Tampa and Orlando, Florida, and has a development office in Charlotte, North Carolina. Stiles is responsible for more than 50 million square feet of office, industrial, retail and mixed-use residential projects throughout the southeastern United States. For more information, please visit http://www.stiles.com or call 954-627-9300.
Office leasing: 200 East Las Olas (avisonyoung.us)
Retail Leasing: 200 E Las Olas Blvd, Fort Lauderdale, FL 33301 - 200 E Las Olas | stiles.com
About PGIM Real Estate
As one of the largest real estate managers in the world with $206.8 billion in gross assets under management and administration,1 PGIM Real Estate strives to deliver exceptional outcomes for investors and borrowers through a range of real estate equity, real estate debt, agriculture, and impact solutions across the risk-return spectrum. PGIM Real Estate is a business of PGIM, the global asset management business of Prudential Financial, Inc. (NYSE: PRU).
PGIM Real Estate's rigorous risk management, seamless execution, and extensive industry insights are backed by a 50-year legacy of investing in commercial real estate, a 140-year history of real estate financing,2 and the deep local expertise of professionals in 32 cities globally. Through its investment, financing, asset management, and talent management approach, PGIM Real Estate engages in practices that ignite positive environmental and social impact, while pursuing activities that strengthen communities around the world. For more information visit pgimrealestate.com.
1 As of June 30, 2022, net AUM is $136.3 billion and AUA is $45.6 billion.
2 Includes legacy lending through PGIM's parent company, PFI.