Tishman Speyer Successfully Negotiates with Banks to Retake Control of 19 Acres at Playa Vista

Los Angeles, CA (PRWEB) August 12, 2010- Tishman Speyer announced recently that it has concluded a transaction to retake control of 19 acres of zoned office development land in West Los Angeles at The Campus at Playa Vista. In January, the firm completed the first phase of the Campus at Playa Vista development -- a 325,000-square-foot four-building project that is 70 percent leased to Belkin International and the University of Southern California - and has entitlements to develop approximately 600,000 square feet of additional commercial office space on the property.

With the completion of this transaction Tishman Speyer can complete its Master Planned Campus that will surround the recently completed Central Park. The new park, recently honored by the American Institute of Architects / LA, includes horticulture gardens, a soccer field, basketball and volley ball courts, and an outdoor amphitheater.

"We are extremely pleased to consummate this transaction which will enable us to develop this property as the West Los Angeles office market recovers," said Tishman Speyer Senior Managing Director John Miller. "Playa Vista has a great future as the region's foremost sustainable mixed-use work/play community and we intend to do our part to bring it to its full potential."

The transaction does not include a group of historic industrial buildings and land surrounding those buildings, which will continue to be controlled by the receiver for the lenders who financed the original acquisition in 2007.

Located in the eastern portion of the Playa Vista community, The Campus at Playa Vista is adjacent to the intersection of Jefferson Boulevard and Centinela Avenue in West Los Angeles and in close proximity to some of Southern California's premiere beaches. The recently-completed portion of the project was constructed in accordance with LEED Gold standards.

About Playa Vista

Today, more than 6,500 people live at Playa Vista, the first mixed-use community to be built in West Los Angeles in the last 50 years. With 70 percent of its original 1,086-acre land area designated as parks and open space, Playa Vista has been hailed as a model urban development, including recognition as a recipient of the prestigious Ahwahnee Award. Situated between Marina Del Rey and Westchester, just about a mile from the beach, Playa Vista is adding critically needed housing on Los Angeles' Westside. Commercial, retail and open space are mixed into this balanced community. All properties are located within walking distance of at least one of a dozen parks, and the community is within easy reach of Santa Monica, Venice, Century City and LAX.

About Tishman Speyer (www.tishmanspeyer.com)

Tishman Speyer is one of the leading owners, developers, operators, and fund managers of first-class real estate in the world. Since 1978, Tishman Speyer has acquired, developed and operated over 325 projects totaling over 116 million square feet and a property portfolio of over US$54.2 billion in total value across the United States, Europe, Latin America and Asia, including signature properties such as New York's Rockefeller Center and Chrysler Center, Berlin's Sony Center and Torre Norte in São Paolo, Brazil.

###

Tishman Speyer's 375 Hudson Street is First Existing Office Building in NYC Designated as LEED Gold

Tishman Speyer Collaborated with Building Tenants Saatchi & Saatchi, Penguin Group (USA) and Turner Construction to Achieve Sustainable Operations

New York, NY (PRWEB) August 5, 2010- Tishman Speyer announced today that 375 Hudson Street, a 1,076,164 square foot office building it owns in Soho, in lower Manhattan, has been awarded LEED® Gold for existing office buildings designation by the U.S. Green Building Council. The 19-story property is the first existing office building in New York City to achieve Gold status through environmentally friendly improvements and retrofits.

Located in the heart of the desirable Hudson Square area of Soho, with entrances on Hudson Street and West Houston Street, 375 Hudson is home to a mix of prominent companies and serves as New York headquarters for Saatchi & Saatchi, Penguin Group (USA), and the Turner Construction Company.

Tishman Speyer Co-CEOs Jerry Speyer and Rob Speyer said, "At Tishman Speyer, our philosophy is that good business and environmentally sound practices go hand in hand. This achievement at 375 Hudson reflects our global commitment to sustainable development and operations. We want to thank our tenants at 375 Hudson for being true partners in achieving this important milestone."

Tishman Speyer implemented and achieved several sustainability measures at the building, prior to and throughout the LEED certification process, including:

• reduced electricity consumption by nearly 110,000 kWh per year by making changes to the HVAC and mechanical systems and installing variable frequency drives on the cooling tower fans;
• reduced steam consumption by improving heat exchangers and making other HVAC improvements that reduced heating demand;
• reduced annual water consumption by 1 million gallons by replacing original restroom fixtures with low flow aerators and new water closets;
• adopted an expanded recycling program that encompassed not only office paper and waste, but batteries, electronic waste and construction debris;
• implemented a building-wide Green Cleaning policy focusing on improving air quality and ensuring the purchase of sustainable cleaning and janitorial paper supplies.

The building has also earned the ENERGY STAR label from the United States Environmental Protection Agency for its energy efficiency.

"We're thrilled to have supported Tishman Speyer in this achievement - it's part of our True Blue commitment to becoming the world's most sustainable Agency," said Adam Werbach, Chief Sustainability Officer at Saatchi & Saatchi. Saatchi & Saatchi also planted a Rooftop Garden, growing a wide variety of vegetables and herbs.

Heidi Kagan, Penguin Group (USA) VP and Director of Building Administration, said, "Penguin Group (USA) has been investing in a greener future for years now and we continue to implement programs that have a positive impact on the environment, the company, our employees, and the building where we work. It's very gratifying that our ongoing efforts and commitment to sustainable practices contributed to this acknowledgement."

Turner Construction Company's Chief Sustainability Officer, Michael Deane, said, "We congratulate Tishman Speyer on the LEED Gold Certification for 375 Hudson Street, our headquarters in New York. Turner, the largest green builder in the United States, shares Tishman Speyer's commitment to sustainability, and welcomes the improvements that have made the building more energy and water efficient while providing a healthier working environment for our employees."

About Tishman Speyer

Tishman Speyer is one of the leading owners, developers, operators, and fund managers of first-class real estate in the world. Since 1978, Tishman Speyer has acquired, developed and operated over 325 projects totaling over 116 million square feet and a property portfolio of over US$54.2 billion in total value across the United States, Europe, Latin America and Asia, including signature properties such as New York's Rockefeller Center and Chrysler Center, Berlin's Sony Center and Torre Norte in São Paolo, Brazil. Tishman Speyer to date has 11 million square feet of LEED certified projects, with another 9 million square feet expected to be certified by the end of 2010.

###

Rob Speyer Announces LEED Gold Certification for Tishman Speyer's Two Alliance Center

Project Reflects Tishman Speyer's Sustainable Development Emphasis

Tishman Speyer announced today that Two Alliance Center -- the firm's recently-completed trophy office tower in Atlanta's Buckhead submarket -- has been awarded the LEED Gold designation by the U.S. Green Building Council. Two Alliance is believed to be the first Buckhead office building, and among the first properties in Atlanta, to receive such certification.
Tishman Speyer

The 30-story, 500,000-square-foot building met challenging sustainability objectives during construction, which was completed in July 2009. According to the firm, approximately15 percent of materials used in construction were previously recycled. In addition, over 75 percent of the project's construction waste was recycled and therefore diverted from landfills. The company also said that approximately 25 percent of construction materials were extracted or manufactured within 500 miles of the project site, thereby reducing the environmental impact from transportation.

Tishman Speyer also will purchase Renewal Energy Certificates equal to 35 percent of its annual core and shell electricity usage at Two Alliance in accordance with LEED guidelines. In addition, it has instituted sustainable design elements that will result in:

• Over 20 percent saved in ongoing energy costs, compared to similar buildings;
• Water use reduced by over 40 percent; and
• 100 percent reduction of potable water for landscape irrigation.

The company also has made a firm commitment to operate an effective program to recycle building waste and to use green housekeeping supplies.

Tishman Speyer President and Co-CEO Rob Speyer commented, "In today's commercial real estate market, developers are being challenged by the community at large to build in ways that do the least possible damage to the environment. Likewise, many commercial tenants have high expectations and want to do business with landlords who are responsible in the way they use energy and otherwise operate their properties. We take those expectations seriously, and will continue to look for ways to achieve maximum sustainability in the buildings we develop, own and manage."

Two Alliance, standing at Buckhead's top office location, features visually stunning and efficient design elements, along with dramatic skyline views. The building offers covered parking, an array of first-class on-site amenities, and direct or convenient access to GA 400, Peachtree Road, MARTA public transportation and Atlanta's finest shopping, cuisine and world-class hotels. Designed by Smallwood, Reynolds, Stewart, Stewart & Associates and Mack Scogin Merrill Elam Architects, and constructed by The Beck Group, the new tower complements Tishman Speyer's One Alliance Center -- which was built in 2001 and is fully leased.

About Tishman Speyer (http://www.tishmanspeyer.com/)Tishman Speyer is one of the leading owners, developers, operators, and fund managers of first-class real estate in the world. Since 1978, Tishman Speyer has acquired, developed and operated over 325 projects totaling over 116 million square feet and a property portfolio of over US$54.2 billion in total value across the United States, Europe, Latin America and Asia, including signature properties such as New York's Rockefeller Center and Chrysler Center, Berlin's Sony Center and Torre Norte in São Paolo, Brazil.

[Full article via PR Web]

Tishman Speyer and Public Art in New York

Jean Parker Phifer, the author of “Public Art New York,” responds to readers on public art in New York in the City Room of the New York Times.

Q:Public art is often simply viewed as pretty (or not) objects on sidewalks and in parks. Can you provide examples of public art programs that encourage viewers to interact with the artwork and/ or learn more about art in general?— Posted by Lise Ragbir

A: The Public Art Fund has organized numerous interactive installations in New York City in the last few years. One of my favorites was Anish Kapoor’s “Sky Mirror,” hosted by Tishman Speyer at Rockefeller Center in 2006. As described in Public Art New York, passers-by could see not only themselves reflected in context in the mirror facing Fifth Avenue, but also the buildings of Rockefeller Center reflected in the side of the mirror facing west.

Read full article via NY Times.

Rob Speyer and Tishman Speyer Undertake Three-Year Project to Conserve Landmark Art

Rob Speyer, President and Co-CEO of Tishman Speyer, co-owners of Rockefeller Center, announced today a three-year project to restore the iconic murals gracing the walls of the lobby of 30 Rockefeller Plaza, the crown jewel of the Rockefeller Center complex.

“Rockefeller Center is not only an architectural masterpiece, but it is also a gallery of important works of art that the public can freely enjoy,” said Rob Speyer. “As the stewards of this public art work of magnificent proportions, we decided to restore the space to the artists’ and designers’ original vision. This will truly be one of the major art restoration projects in New York City history.

Read more »

Rob Speyer among the most powerful people in New York real estate in NY Observer

Coming in at number 69, Rob Speyer is among the NY Observer’s Power 100: the most powerful people in New York real estate.

Full story via New York Observer.

Jerry Speyer named the most powerful person in NY Observer’s Power 100

The New York Observer names Jerry Speyer, Co-CEO of Tishman Speyer, the most powerful person in New York real estate.

Read the full article via New York Observer.