First building in City`s Back Bay to receive LEED certification
BOSTON--(Business Wire)--
Liberty Mutual Group, the fifth largest property and casualty insurer in the
U.S., today announced that its 10 St. James Avenue building, a 585,000 square
foot Class A office building located in Boston`s Back Bay, has been awarded LEED
Silver Certification for Existing Buildings Operations and Maintenance (LEED EB
O&M) by the United States Green Building Council (USGBC). The 19-story tower,
purchased by Liberty Mutual in 2006 is the first building in Boston`s Back Bay
to receive the prestigious designation.
To achieve LEED certification, Liberty Mutual engaged the property`s management
company, CB Richard Ellis (CBRE) and its Sustainability Programs Group. CBRE`s
strategy was to increase the building`s operating efficiency, reduce utility
consumption and explore all aspects of the LEED EB rating system relating to the
environmental impact of operations, maintenance, construction and the health and
welfare of the building.
"Over the past two years, Liberty Mutual has focused on resource conservation
and preservation tactics that provide a good return, economically and
environmentally. This has resulted in four LEED-Certified buildings and two
ENERGY STAR labels," said Joanne Bragg, facility director for Liberty Mutual`s
corporate real estate. "Recognizing our commitment to energy reduction, CBRE
worked to make the 10 St. James building a more sustainable facility and we are
pleased that through their efforts we are able to add a fifth LEED certified
building to our portfolio of green initiatives."
To reduce base building utility consumption and lower the building`s operating
expenses, CBRE conducted an energy audit, a building-wide lighting audit and an
on-site waste stream audit. The firm also balanced the building ventilation
system to optimize occupant comfort and reduce HVAC-related energy consumption
by approximately five percent.
As a result of CBRE`s sustainability efforts, the firm projects Liberty Mutual`s
10 St. James Avenue building will realize approximately $63,900 in annual
savings within an expected payback period of two years. In additional, the
efforts will save 400,000 kilowatts of energy, reduce 1,323 tons of carbon
dioxide emissions and divert from landfills 56 tons of recycling.
"We are extremely proud that 10 St. James Avenue has been recognized as the
first building in Boston`s Back Bay to receive LEED EB O&M certification," said
CBRE`s Shay Sims, Vice President, Portfolio Manager/Partner. "We`re honored to
be recognized for our environmental efforts and to show that sustainable
practices are both good for the environment and the bottom line."
Liberty Mutual`s 10 St. James Avenue building is located in Boston`s Back Bay
with close proximity to the Boston Public Garden and Copley Square. Constructed
in 2001, the property is one of Back Bay`s newest top-tier office buildings and
features a 400-car garage and approximately 35,000 square feet of retail space.
In addition to the offices of Liberty Mutual, the building is home to Pearson
Education and law firm Holland & Knight.
Liberty Mutual has a total of 4,091 employees located in 33 offices across
Massachusetts, with 2,602 of these employees located in Boston. The majority of
Liberty Mutual`s Boston-based employees are located at the company`s Home Office
campus, in buildings the company owns at 175 Berkeley Street, 30 St. James
Avenue, 10 St. James Avenue and 330 Stuart Street.
About Liberty Mutual Group
Boston-based Liberty Mutual Group is a diversified global insurer and fifth
largest property and casualty insurer in the U.S. based on 2008 direct written
premium. The Company also ranks 86th on the Fortune 500 list of largest
corporations in the U.S. based on 2008 revenue. As of December 31, 2008, Liberty
Mutual Group had $104.3 billion in consolidated assets, $94.2 billion in
consolidated liabilities and $28.9 billion in annual consolidated revenue.
Liberty Mutual Group offers a wide range of insurance products and services,
including personal automobile, homeowners, workers compensation, commercial
multiple peril, commercial automobile, general liability, global specialty,
group disability, assumed reinsurance, fire and surety.
Liberty Mutual Group (www.libertymutualgroup.com) employs over 45,000 people in
more than 900 offices throughout the world.
About CB Richard Ellis
CB Richard Ellis Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company
headquartered in Los Angeles, is the world`s largest commercial real estate
services firm (in terms of 2007 revenue). CB Richard Ellis is the only
commercial real estate services company named one of the 50 "best in class"
companies by BusinessWeek, and was also named one of the 100 fastest growing
companies by Fortune.
CB Richard Ellis`s New England practice has offices in Massachusetts,
Connecticut, Rhode Island, Maine and New Hampshire. The firm serves real estate
owners, investors and occupiers by offering strategic advice and execution for:
property leasing and sales, property facilities and project management,
corporate services, debt and equity financing, investment management, valuation
and appraisal, research and investment strategy, and consulting. Please visit
our Web site at www.cbre.com.
Liberty Mutual Group
Adrianne Kaufmann, 617-574-5983
Copyright Business Wire 2009
