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SCHAUMBURG, IL-The US Environmental Protection Agency has awarded the ENERGY STAR to the 712,000-square-foot Woodfield Corporate Center. The EPA has awarded the designation to 425-475 N. Martingale, a two-building complex owned by a joint venture of an affiliate of the General Electric Pension Trust, advised by GE Asset Management, and an affiliate of Lincoln Property Company, which manages the building. Built in 1986 and designed by Holabird and Root, Woodfield was acquired in late 2007 by ownership for around $96 million, sources say.

“This honor is in recognition of the continued efforts of the owner, management company and tenants who have endorsed and embraced our sustainability programs and who are working hard to make a difference,” says Mark Smith with CB Richard Ellis, leasing agent for the property along with CBRE’s Dan Graham.

The recognition, given to buildings for their superior energy efficiency, was received by Woodfield for efforts such as installing a Building Automation System, which allows property management to monitor and control elements of energy consumption. Other energy-efficient building features include electric heat and the capability of heating controls to individualize temperatures by zone.

Asking lease rates are around $20 per square foot at the 70-acre property, which is near Interstate 290 and a half-mile south of Woodfield Mall and offers tenants amenities including a fitness center, conference center, deli, sundry shop, florist, 24/7 security and covered parking. The Woodfield Corporate Center is located in the northwest corridor, where the overall occupancy rate is around 73%, according to Cushman & Wakefield’s Q1 office market report. Average asking lease rates in the submarket are around $24 per square foot gross, according to the research.

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