LaSalle Investment Management building in Toronto achieves LEED® Canada Gold EB:O&M rating

TORONTO, Aug. 2, 2013 /CNW/ - Avison Young, the world's fastest-growing commercial real estate services firm, announced today that 70 University Avenue in Toronto, an Avison Young-managed property, is one of the first class A buildings in the city to achieve LEED^® Gold Canada EB:O&M status. This coveted status combines environmental best practices with building operations and efficiency.

The 245,000-square-foot office tower was built in 1982 and underwent significant improvements in 2012.

"This achievement demonstrates the ongoing commitment from LaSalle Investment Management and Avison Young to ensure that our joint strategy aligns with those of the Canada Green Building Council, which effectively adds value to managed buildings and savings to their tenants," comments Steve Ichelson, Avison Young's Vice-President of Operations, Ontario building management. "More importantly, LEED Canada Gold EB:O&M will ensure that we continue to improve. We will have to recertify in a few years, so we cannot take certification for granted."

The LEED Canada EB:O&M 2009 rating system helps building owners and operators measure operations, improvements and maintenance on a consistent scale, with the goal of maximizing operational efficiency while minimizing environmental impacts. The acronym EB:O&M is short for existing buildings operations and maintenance. LEED Canada EB:O&M 2009 addresses whole-building cleaning and maintenance issues (including chemical use), recycling programs, exterior maintenance programs, and systems upgrades.

LEED Canada EB:O&M certification is unlike any other LEED certification in that it focuses on the operation and maintenance phase of the building life cycle rather than the construction phase. Buildings may be operated and maintained for decades and, under this rating system, must file for recertification at least once every five years to maintain their LEED Canada EB:O&M status.

In accordance with Canada Green Business Council standards, recertification requires demonstration of compliance for the entire period of time since the last certification. Therefore, LEED Canada EB:O&M 2009 represents an ongoing commitment by building owners and operators to continuously assess the environmental performance of their buildings.

"This designation is a reflection of LaSalle's dedication to sustainability, and ensuring that our buildings perform at the highest level possible," says Sam Barbieri, Senior Vice-President, Asset Management at LaSalle Investment Management.

As the team leader for this project, LaSalle Investment Management, on behalf of its client, the building's owner, reinvested significant capital back into the building.

"The building is now well positioned for the next leasing cycle, and will lead the pack of the older stock of buildings in Toronto in their achievement of sustainability," adds Barbieri.

Avison Young Principal Jonathan Pearce in Toronto notes: "Obtaining LEED Canada Gold EB:O&M designation for 70 University Avenue is an outstanding achievement, and a testament to the building's ownership and management's continual commitment to strive for best-in-class status."

"Corporate users of all sizes are increasingly demanding and expecting landlords to provide this level of accommodation, and sustainability is without doubt one of the most significant drivers for tenants when making their premises decisions," says Pearce. "With the LEED Gold certification, 70 University Avenue is well positioned for continued leasing success."

Avison Young is the world's fastest-growing commercial real estate services firm. Headquartered in Toronto, Canada, Avison Young is a collaborative, global firm owned and operated by its principals. Founded in 1978, the company comprises 1,300 real estate professionals in 49 offices, providing value-added, client-centric investment sales, leasing, advisory, management, financing and mortgage placement services to owners and occupiers of office, retail, industrial and multi-family properties.

• Editors/Reporters: please click on link to view and download photo of 70 University Avenue, Toronto
  http://www.avisonyoung.com/sites/default/files/content-files/Media_Room/Temp/70UniversityAve.png

For further information/comment/photos:

Sherry Quan, National Director of Communications & Media Relations, Avison Young: [phone]; cell: [phone]

Steve Ichelson, Vice-President, Operations, Avison Young Real Estate Management Services, Avison Young: [phone]

Sam Barbieri, Senior Vice-President, Asset Management, LaSalle Investment Management: [phone]

Jonathan Pearce, Principal, Avison Young: [phone]

www.avisonyoung.com

Avison Young was a winner of Canada's Best Managed Companies program in 2011 and requalified in 2012 to maintain its status as a Best Managed company.

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SOURCE: Avison Young Commercial Real Estate (BC)

Steve Ichelson
[phone]
Email: [email protected]