MIAMI-The US Green Building Council has awarded 1450 Brickell its Leadership in Energy and Environmental Design Gold certification, making the new Class A office tower the first in Downtown Miami to earn the benchmark for design, construction and operation of environmentally-sound buildings.

“Recognizing this trend toward green buildings and the cost efficiencies created by sustainable design, we set out to build Miami’s most sustainable office tower,” says Alan Ojeda, CEO of Rilea Group, developer of 1450 Brickell. “We are now seeing this commitment materialize in the form of strong leasing activity among the market’s top-tier corporate tenants.”

The 35-story, 582,817-square foot office tower’s Leadership in Energy and Environmental Design (LEED) Gold certification coincides with receipt of its Certificate of Occupancy. 1450 Brickell is 54% leased. Tenants include Bilzin Sumberg, BNY Mellon, and Korn/Ferry International.

“We are just seeing green buildings come to market today, but understand that this process started four or five years ago,” Rob Hink, a LEED Accredited Professional and principal of the Spinnaker Group, 1450 Brickell’s environmental consulting firm, tells GlobeSt.com. “Shortly, you are gong to see the certification of Met 2 right up the street, which is another large, green Class A office building.”

On the green front, about 78% of the project’s construction waste was recycled, with 40% of all materials coming from sources within 500 miles of the construction site. 1450 Brickell saves more than 14% more energy than standard buildings built to code. The tower’s low-flow water fixtures are projected to save over 2.5 million gallons of water per year—more than 40% over standard buildings built to code—and offers preferred parking spaces allocated for low emission, fuel-efficient vehicles. The building also features 44 bike racks as well as shower and changing facilities.

“1450 Brickell puts pressure on the rest of the Class A office developments in Miami because it gives a new definition to what a Class A office marketplace is,” Hink says. “It is a game-changer and it is a market changer. In order to be competitive in this marketplace, you have to be a LEED building, and I dare say you have to be LEED Gold.”

Miami has lagged behind other major metros like Los Angeles, New York and Chicago on the green office building front. But Miami developers are becoming more conscious about reducing their carbon footprint, Danet Linares, executive vice president at Blanca Commercial Realty in Miami, tells GlobeSt.com. Linares is expecting Miami’s green movement to attract more multinational companies.

“As major corporations’ leases expire, we will see more multinational movement into this market because it has now become more important to major corporations to be in LEED buildings,” Linares says. “We have already attracted about 55,000 square feet of new-to-market tenants that we’re about to announce.”

Leasing activity in Miami measured nearly 1.3 million square feet during the first six months of 2010, a 10.9% increase from the activity reported last year at this time, according to CB Richard Ellis. Two of the largest lease transactions signed during the past quarter were for space at the newly constructed 1450 Brickell. HIG Capital Management and City National Bank announced plans to occupy 38,661 square feet and 36,559 square feet respectively. 1450 Brickell leases for $50 a square foot with tenant improvement allowances of $50 to $60 per square foot depending on terms.

“We are getting higher lease rates than other Class A buildings in the marketplace for many reasons,” Tere Blanca, president and CEO of Blanca Commercial Real Estate, tells GlobeSt.com. “The LEED certification plays into it, but the quality of the project is allowing us to capture a premium for space in the building.”

Instant Insights /

1450 Brickell Earns LEED Gold Certification

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