KBS Real Estate Investment Trust III (KBS REIT III), a non-traded real estate investment trust based in Newport Beach, California, announced today that 171 17th Street was awarded the Leadership in Energy and Environment Development (LEED) Platinum certification. This property is 98% leased with well-known tenants such as Wells Fargo, Arnall Golden & Gregory and Georgia Tech Research Company.
LEED is the most widely used green building rating system in the world, launched to encourage sustainable construction designs and to provide recognition and verification for a building or neighborhood’s green features. This rating system is a credit-based system used to evaluate the environmental performance and sustainability of a building using a point based system. 171 17th Street was awarded the maximum 81 points allotted on the scorecard.
The property is known for being the first LEED Silver Core & Shell-certified building to be constructed in the world. Currently, the property is one of seven buildings in the Atlanta market to have achieved this Platinum level of recognition. Onsite “green” amenities at the property include EV car charging stations and bike storage.
“Our team has worked tirelessly with the Sustainable Energy Group to track our construction and tenant efforts toward a more sustainable workplace environment,” said Allen Aldridge, senior vice president at KBS and asset manager for the property. “We are proud to receive this award and honored to be considered among the highest ranking sustainable buildings.”
KBS Capital Advisors is the external advisor to KBS Real Estate Investment Trusts (REITs), and is an affiliate of KBS Realty Advisors, a private equity real estate company and SEC-registered investment adviser founded in 1992. Since its inception, KBS-affiliated companies have completed transactional activity in excess of $34 billion via 15 separate accounts, six commingled funds, five sovereign wealth funds and seven non-traded REITs. For information, visit www.kbs.com.