Coretrust Office Properties Earn First 3 Global UL Verified Healthy Building Marks For Indoor Air And Water Quality

LOS ANGELES, May 24, 2021 /PRNewswire/ -- Coretrust Capital Partners today announced that three buildings in its portfolio are the first to earn the UL Verified Healthy Buildings Mark for Indoor Air and Water Quality. The verifications are for 2 Liberty Place in Philadelphia and PASARROYO in Pasadena, Calif. along with FourFortyFour South Flower in downtown Los Angeles.  The UL verification communicates Coretrust's commitment to maintaining healthy buildings and helping serve as a model for landlords across the U.S.

"By being the first ever to earn the UL Verified Healthy Buildings Mark for Indoor Air and Water Quality for its properties, Coretrust has taken bold action to put the health and well-being of building occupants and their guests first.  A healthy work environment is critically important to give peace of mind to those returning to their offices," said Sean McCrady, director, Asset and Sustainability, Real Estate and Properties at UL. 

He noted that UL was able to verify Coretrust claims of excellent air quality in its buildings and that the company also took significant steps to ensure water quality to levels cited in Healthy Buildings Verification.  Water has stagnated at many properties over the past year as buildings have sat empty, leading to the growth of microbiological organisms in under-utilized plumbing systems.  McCrady adds,  "Coretrust earned UL Verification for both air and water quality. Other properties in the process of returning to in-person operations should also consider water quality as part of their return-to-workplace plans."

A major element in achieving the best indoor air quality at all Coretrust buildings is the patented Biowall MAX, an Ultraviolet Germicidal Irradiation Air Disinfection system that sterilizes 99.9% of airborne bio-contaminants. Sanuvox Technologies Inc., a global leader in ultraviolet air purification, installed the most advanced and effective in-duct UVC air sterilization systems at the Coretrust properties.  The Biowall MAX virtually eliminates the HVAC (Heating Ventilation Air Conditioning) system as a mode of virus transmission.  

"As our tenant customers continue their return to the workplace, health and wellness issues are paramount to staff confidence," said Thomas S. Ricci, Managing Principal and a founder of Coretrust.  "From its very beginning, Coretrust has sought superior building technologies for our properties to best serve the health and wellbeing of our tenants and their guests.

"We know of no other office owner that has the combination of environmental improvements and health and safety upgrades in place that we have," Ricci added.  He noted that the company has invested over $5 million in technological and operational improvements to bring air and water quality up to the most stringent standards at 2 Liberty Place, FourFortyFour and PASARROYO. 

Along with the Biowall UVC system, Coretrust has further enhanced indoor air quality by installing the highest effective MERV air filters, making frequent fresh air purges and allowing maximum fresh air ventilation throughout the day.  In addition, Ricci points out that Coretrust is one of the first landlords to provide continuous elevator air purification through bi-polar ionization units within each cab.

Coretrust also has added touchless destination dispatch systems to completely modernized elevators at its buildings that allow tenants to use personalized access cards to call cars without touching buttons. Coretrust has further minimized touch points by adding automatic doors, touchless parking garage entry, touchless security access for visitors and touchless restroom fixtures.

"The Coretrust leadership team are thought leaders in developing protocols for indoor air quality, cleanliness and safety for all of their building occupants," said Lawrence R. Zipf, Managing Director, CBRE, and a tenant at 2 Liberty Place. "With investments including upgraded HVAC filtration systems and controls, UV-GI purification and air purifiers via ion generation for elevator cabs, Coretrust is ready to welcome tenants, visitors, and vendors back into its office buildings."

A major Coretrust innovation was hacking the curtain wall of the FourFortyFour office tower in downtown Los Angeles to create a 1,000-square-foot loggia terrace that brings fresh air and sunlight into the 22,500-square-foot Workplace Innovation Lab on the sixth floor.   Similar indoor terraces can be created for occupants at all our properties as desired, said Ricci.

"We've been a tenant at PASARROYO since July 2020 and have seen upgrades and improvements focused on the health and safety of its occupants," said Elizabeth Hugh, CPA, Chief Operating Officer of KROST CPAs & Consultants.  "Since we are considered an essential business, we were able to continue servicing clients uninterrupted through the pandemic and we appreciated the protocols our building management put into place in all the common areas."

Ms. Hugh added, "Coretrust has been focused on delivering a safe environment for our staff to comfortably work in.  Knowing that this building has earned the UL Verified Healthy Buildings Mark confirms we made the right choice relocating our business here."

2 Liberty Place at 50 South 16^th Street in downtown Philadelphia is a 57-story tower comprising 1.2 million square feet.  

2 Liberty is an integral part of Liberty Place, a 3 million square foot complex that also includes a 145,000 square foot fashion and retail center, a 294-room Westin Hotel and its companion 1.2 million square foot office tower, One Liberty Place.  Designed by Helmut Jahn and completed in 1990, 2 Liberty Place was originally the headquarters for Cigna, the global health insurance company, which continues to occupy approximately one-third of the office space. Remaining offices are leased to an array of top Philadelphia financial and professional services firms.  Coretrust recently completed a massive multi-million capital improvement program that includes a central plant overhaul, complete elevator modernization, restoration of the main building lobbies and full renovation of its Conference & Event Center.

PASARROYO, a four-building, mid-rise campus located at 201, 225, 251 and 283 South Lake Avenue in Pasadena, resides on an expansive six-acre full city block and totals more than 640,000 square feet of commercial space with 600,000 square feet of offices, 40,000 square feet of retail plus extensive outdoor space. Over the past year, Coretrust has expanded the plentiful outdoor spaces and created inviting plazas, terraces and gardens that encourage dining, meetings, social gatherings and even fitness activities by occupants.  PASARROYO has a wide range of on-site amenities such as LA Fitness, Dunkin', Urban Plates, Citi Bank, abundant on-site parking and car detailing.  

"The UL Healthy Buildings Verification at our properties in Los Angeles, Pasadena and Philadelphia underscores our commitment to health and safety, distinguishes our properties and helps build confidence and trust as workers return to the office," Ricci concludes.

About Coretrust Capital Partners
Coretrust Capital Partners, LLC ("Coretrust") is a Los Angeles-based private real estate operating company formed in 2014 by three original partners of Thomas Properties Group, Inc.  Coretrust, a Registered Investment Advisor, provides fiduciary investment management services to institutional clients in both co-investment and separate account vehicles targeting opportunistic, value-add, core plus and core strategies in the office sector.  Coretrust targets acquisitions in major urban centers located in the West Coast, Southwest and the Mid-Atlantic regions.  For more information visit www.coretrustcapital.com

SOURCE Coretrust Capital Partners

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