Tishman Speyer, HSBC and JLL Selected as 2022 Green Lease Leaders by the Department of Energy's Better Buildings Alliance and the Institute for Market Transformation


NEW YORK, July 5, 2022 /PRNewswire/ — The Institute for Market Transformation (IMT) and the U.S. Department of Energy’s (DOE) Better Buildings Alliance selected HSBC Bank USA, N.A., Tishman Speyer and JLL as 2022 Green Lease Leaders.  This recognition is for the recently finalized 265,000 foot lease at The Spiral, Tishman Speyer’s 65-story office tower that is rapidly nearing completion at 66 Hudson Boulevard in Manhattan.  Launched in 2014, the Green Lease Leaders award sets national standards for what constitutes a green lease, while recognizing landlords and tenants who modernize their leases to spur collaborative action on energy efficiency, cost-savings, air quality, and sustainability in buildings.

Tishman Speyer and HSBC, with the brokerage representation and project development services of JLL, have achieved Platinum Recognition for the inclusion of legally binding environmental commitments and green initiatives in the lease, focusing on collaboration in all areas of sustainability.  The commitments cover energy and water efficiencies, capital planning transparency, indoor air quality clauses and matters related to waste management, among other stipulations.

The Spiral, which is targeting a LEED Gold certification, will further HSBC’s sustainability efforts through an expected 60% reduction of the bank’s total energy consumption, a sustainable design experience, recycling and composting, adhering to NYC’s CO2 emissions guidelines, and offering SMART features throughout operations and management systems.

To receive this recognition, HSBC and Tishman Speyer qualified for credits in energy efficiency and sustainability best practices such as utility data tracking and sharing, cost recovery for capital improvements and sustainability training.

“The Spiral, and this green lease, delivers a new level of commitment to sustainable practices and design.  The inclusion of lease language allowing for reallocation of carbon offsets between Tishman Speyer and HSBC was a first for us, and we see great value in replicating this approach in future deals,” said Jonathan Flaherty, Managing Director, Global Head of Sustainability and Building Technologies, Tishman Speyer.

“We are honored to be selected as green lease leaders alongside Tishman Speyer. A prerequisite for our new headquarter search was an office space that embodied our Banks’ larger sustainability ambitions. This recognition is a great proof point in our selection,” said Michael Privitera, US Chief Operating Officer, HSBC.

“JLL is very proud to be part of the team leading this initiative.  JLL’s commitment to Science Based Net Zero Targets extend beyond our own operations with a commitment to help our clients meet or exceed their own goals as well.  This is an example of that effort and are very pleased to receive Platinum Recognition,” said Ron Lapointe Project Director, JLL.

One of the world’s largest banking and financial services firms, HSBC will move to 265,000 square feet in the iconic new tower.  HSBC will occupy three of The Spiral’s podium floors, which feature virtually column-free space, as well as a dramatic double-height space spanning half of both the 29th and 30th floors.  The unique design features a two-tiered outdoor terrace with lush landscaping and sweeping views of the Hudson River from New York Harbor past the George Washington Bridge.

Designed by BIG-Bjarke Ingels Group, The Spiral rises to 1,031 feet and features a cascading series of landscaped terraces and hanging gardens as its signature element.  The terraces ascend one per floor in a spiraling motion to create a unique, continuous green pathway that wraps around the façade of the tower, supplying its occupants with readily accessible fresh air and outdoor space.

Tishman Speyer has now successfully pre-leased 70% of the 2.8 million-square-foot office tower, with occupancy anticipated in summer 2022. Pfizer, one of the world’s pre-eminent biopharmaceutical companies, will establish its global headquarters across 14 floors in The Spiral.  Premier law firm Debevoise & Plimpton LLP has committed to 13 floors; AllianceBernstein has pre-leased another three-and-a-half floors; and Turner Construction also intends to create a new global headquarters across two floors.

All customers in The Spiral and their guests will have access to ZO. Clubhouse, a premier amenity center and lounge perched on the top floor of the tower. The Clubhouse will feature an open-air terrace, panoramic views of New York City, food and beverage service, and multiple spaces for meetings, conferences and events. Tishman Speyer will also incorporate its Studio Gather conference center and Studio Private flexible office product.

Located at the intersection of the High Line and the four-acre Bella Abzug Park, The Spiral encompasses an entire city block stretching from West 34th to West 35th Streets and from 10th Avenue to the park.  The six-story base of the building will include a lobby with ceiling heights of up to 28 feet and entrances on Hudson Boulevard East and 10th Avenue.  The base also will include approximately 18,000 square feet of first-class retail.

This year’s Green Lease Leaders represent portfolios totaling nearly 2 billion square feet (sq. ft.) and comprise a diverse range of buildings from large and small commercial offices to industrial buildings to data centers. Altogether, Green Lease Leaders manage more than 5 billion square feet of commercial and government space across North America, representing a huge potential for growth in green leases.  In the commercial sector alone, green leasing has the potential to affect 8 percent of leased space nationwide. IMT estimates that green leases can help reduce utility bills by up to about 50 cents per square foot (22 percent) in U.S. office buildings alone, and if all leased office buildings executed green leases, the market could reap over $3 billion in annual cost savings.

About HSBC Bank USA

HSBC Bank USA, National Association (HSBC Bank USA, N.A.) serves customers through wealth and personal banking, commercial banking, private banking, global banking, and markets and securities services. As of the close of business on December 31, 2021 it operated wealth centers in: California; Washington, D.C.; Florida; New Jersey; New York; Virginia; and Washington. HSBC Bank USA, N.A. is the principal subsidiary of HSBC USA Inc., a wholly-owned subsidiary of HSBC North America Holdings Inc. In the United States, deposit products are offered by HSBC Bank USA, N.A., Member FDIC, investment and brokerage services are provided through HSBC Securities (USA) Inc., (Member NYSE/FINRA/SIPC) and insurance products are provided through HSBC Insurance Agency (USA) Inc.

About Tishman Speyer (tishmanspeyer.com)

Tishman Speyer is a leading owner, developer, operator and investment manager of first-class real estate in 31 key markets across the United States, Europe, Asia and Latin America. We develop, build and manage premier office, residential and retail spaces for industry-leading tenants, as well as state-of-the-art life science centers through our Breakthrough Properties venture. With global vision, on-the-ground expertise and a personalized approach, we are unparalleled in our ability to foster innovation, quickly adapt to global and local trends and proactively anticipate our customers’ evolving needs.  By focusing on health and wellness, enlightened placemaking and customer-focused initiatives such as our tenant amenities platform, ZO., and our flexible space and co-working brand, Studio, we tend not just to our physical buildings, but to the people who inhabit them on a daily basis. Since our inception in 1978, Tishman Speyer has acquired, developed, and operated 498 properties, totaling 219 million square feet, with a combined value of over $124 billion (U.S.). Our current portfolio includes such iconic assets as Rockefeller Center in New York City, The Springs in Shanghai, TaunusTurm in Frankfurt and the Mission Rock neighborhood currently being realized in San Francisco.

About JLL

JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $19.4 billion, operations in over 80 countries and a global workforce of more than 100,000 as of March 31, 2022. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.

Learn more about Green Leasing by visiting GreenLeaseLeaders.com or reading Green Lease Leaders’ case studies.

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SOURCE Tishman Speyer

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