Nuveen Real Estate scoops 12th ENERGY Star award
Nuveen Real Estate has been awarded its 12th consecutive ENERGY Star Partner of the Year award (previously as TH Real Estate and TIAA), for “demonstrating exemplary commitment and dedication to leadership in energy efficiency and the ENERGY STAR program.” This is our 10th year at the Sustained Excellence level. The award is bestowed upon a diverse set of organizations that have demonstrated continued leadership in energy efficiency.
Committed to investing in tomorrow’s world, sustainability is critical in our approach to investment having introduced a sustainability program in 2007. Implementing sustainability measures across the portfolio aligns with our view that environmental, social and governance factors can produce attractive long-term returns while also contributing to positive societal outcomes, broader economic development and a healthy environment. Since implementing the program, we have earned the ENERGY Star Partner of the Year award every year consecutively.
25 Massachusetts Avenue (pictured), Washington, D.C. is a prime example of our sustainability efforts in action. The property has achieved an approximate 19% reduction in energy intensity (a measure of energy use over sq ft) since being on-boarded to Nuveen Real Estate’s Sustainability program in 2015, avoiding roughly $150,000 in annual energy costs.
“25 Massachusetts Avenue is a great example of what you can achieve when you aim for continuous improvement. Achieving LEED Gold is an impressive accomplishment, but it’s by no means the end of the story. This property continues to improve its energy and water efficiency and embraces a range of other sustainability initiatives and wellness features for the benefit of its tenants,” comments Meghan Johnson, Sustainability, Nuveen Real Estate, Americas.
25 Massachusetts Avenue achieved LEED Existing Buildings 2009 Gold in 2014 and was re-certified gold in 2018. The property has achieved an approximate 36% reduction in water intensity (a measure of water use over sq ft) since being on-boarded to Nuveen Real Estate’s Sustainability program in 2015.
The property also has many health & wellness features and is pursuing Fitwel certification. We are currently completing a lobby renovation where additional LED lighting will be added, and an energy efficient glass store front and vestibule are to be created. We have also added electric charging stations in the parking garage and upgraded the bike room earlier this year.
ENERGY STAR is the U.S. government-backed symbol for energy efficiency, providing simple, credible, and unbiased information that consumers and businesses rely on to make well-informed, cost-saving, energy efficiency decisions.
Research concludes that ENERGY STAR certified assets have outperformed while assets failing to meet such standards have typically under-performed*.