Park Place Tower (Park Place I)
3333-3355 Michelson Drive
Irvine, CA 92612
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Since its construction in the mid-1970s, Park Place has enjoyed a rich history as one of Orange County’s most recognizable landmarks. LBA Realty purchased the building in 2010, and formed a joint venture partnership with Principal Real Estate Investors in 2015. Park Place is a distinctive, 1.8 million square foot corporate complex, situated within a thriving 105-acre, mixed-use development of office, residential, and retail amenities.
Park Place building management completed an ambitious set of upgrades to improve energy efficiency. Committed to environmental stewardship, LBA Realty incorporated energy-saving technology, including a multi-million dollar system upgrade. The goal was to reduce annual energy consumption by more than 4,000,000 kWh. The team installed VFDs serving 28 vane axial supply fans totaling 4400 horsepower. The 24 banks of existing cooling coils were not only replaced but upsized to high capacity coils, resulting in better heat transfer and reduced pumping energy. The Siemens energy management software was upgraded to provide tighter controls and better energy data feedback. This advanced data collection is now analyzed by the newly installed LoBOS (Load Based Optimization) software package. This state of the art “smart” energy management system makes real-time energy usage decisions based on load. Data points from the central plant all the way down to the zone level are utilized to determine which system adjustments result in the greatest efficiencies. In addition to earning the ENERGY STAR, Park Place earned LEED Gold certification in 2012.
Park Place I actively participates in Principal Real Estate Investors’ Pillars of Responsible Property Investing (PRPI) initiative. Based on the United Nations Principals of Responsible Investment, the PRPI initiative emphasizes operational excellence, and acts as an expanded fiduciary framework to better serve the needs of clients, investors, tenants, and the community. For more information on Principal Real Estate Investors and the Pillars of Responsible Property Investing, visit http://www.principalglobal.com/us/re/responsibleinvest.aspx.
Communications:
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Testimonial:
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Please note: Narrative information in this profile has been provided by LBA IV - PPI, LLC or a representative of this facility. Other building information was verified and submitted to EPA at the time of application. Building energy performance, operating characteristics, and ownership/management may be subject to change over time.
Building Owner:*
LBA IV - PPI, LLC
Property Manager:*
LBA Realty
Year(s) Labeled (Rating):
2007 (82)
2009 (82)
2011 (79)
2012 (84)
2013 (84)
2014 (85)
2015 (87)
2016 (93)
Facility Type: Office
Total Floorspace: 1846695 sf
Year Constructed: 1975
Contract Type: None
Technologies Used:
| Stage 2-Lighting |
| Stage 3-Load Reductions |
| Stage 4-Fan Systems |
| Stage 5-Heating and Cooling Plant |