SOURCE: American Realty Advisors
GLENDALE, CA--(Marketwired - August 20, 2014) - American Realty Advisors, in partnership with Conor Commercial Real Estate, a member of The McShane Companies, announced today that Cherry Logistics Center, a newly completed industrial development located in Newark, California, has received LEED Silver certification under the U.S. Green Building Council's LEED® rating system for Core and Shell projects.
Located in the San Francisco/Oakland Bay Area, Cherry Logistics Center is a state-of-the-art Class A 574,647 sf cross-dock LEED Silver distribution facility, providing its tenant with substantial transportation savings and is anticipated to generate less traffic and air pollution compared to the use of a similar-sized facility in the Central Valley. The property has exceptional access to public transportation being only 0.2 miles from the nearest bus stop. Cherry Logistics is 100% leased to a Fortune 50 retailer and is currently being marketed for sale.
During construction, the project utilized innovative waste management by processing the previous onsite concrete and asphalt into base rock and fill for the new building. Following demolition, the previous metal structure was routed to recycling centers. Construction waste was diverted from landfills and recycled at local recycling/diversion facilities. These environmentally responsible activities, among others, significantly reduced the energy, water, transportation, pollution, and carbons associated with the demolition of the previous site and construction of the new facility resulting in lower regional landfill use and gravel mining.
The building landscape design incorporates native and adapted vegetation, as well as efficient irrigation design and controls, typically reducing water use for irrigation by at least 50%. Additionally, the plumbing fixtures to be installed in the building are expected to reduce potable water use by 32%. The building is also designed to achieve a 42% reduction in annual energy consumption by utilizing efficient HVAC equipment and building lighting design. Skylights provide ambient daylight that together with the installed lighting system, lowers the required lighting power density. Lastly, the building has purchased Renewable Energy Credits (RECs) to offset 35% of the building's grid-consumed energy for the first two years of operation.
Cherry Logistics Center was a 2013 finalist for Silicon Valley's Business Journal's Structure Awards for Best Green Project/Most Innovative Design.
American's Executive Vice President, Kirk Helgeson, stated, "We are pleased with the completion, leasing, and pending sale of Cherry Logistics Center and our successful partnership on this project with Conor Commercial. In addition, the achievement of LEED Silver certification reinforces American's commitment to sustainable investment practices, enhances the property's competitive position, and is expected to translate into direct value benefit for our clients upon disposition."
American Realty Advisors
American is an investment manager to institutional investors and with over $6 billion in assets under management, has provided real estate investment management services for over 26 years utilizing core and value-added commingled funds and separate accounts. American acquires assets directly or provides equity, preferred equity, mezzanine debt, debt and hybrid debt to primary investors and developers operating throughout the United States for office, industrial, multi-family, and retail properties. More information regarding American can be found at www.americanreal.com.
Conor Commercial Real Estate
Conor Commercial Real Estate is the integrated real estate development and investment arm of The McShane Companies headquartered in suburban Chicago, Illinois with regional offices located in Austin, Dallas, Houston, Phoenix and Irvine. Conor Commercial Real Estate is active on a local, regional and national basis in the development of master-planned industrial and office parks, medical office developments, speculative industrial and office properties, build-to-suit projects for lease or purchase and real estate investment opportunities. For more information on Conor Commercial Real Estate, visit the firm's web site at www.conorcommercial.com.
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