Liberty Mutual’s 10 St. James Avenue, Boston Building Receives LEED Silver Certificate for Existing Buildings Operations and Maintenance

BOSTON--(BUSINESS WIRE)--Liberty Mutual Group, the fifth largest property and casualty insurer in the U.S., today announced that its 10 St. James Avenue building, a 585,000 square foot Class A office building located in Boston’s Back Bay, has been awarded LEED Silver Certification for Existing Buildings Operations and Maintenance (LEED EB O&M) by the United States Green Building Council (USGBC). The 19-story tower, purchased by Liberty Mutual in 2006 is the first building in Boston’s Back Bay to receive the prestigious designation.

“We are extremely proud that 10 St. James Avenue has been recognized as the first building in Boston’s Back Bay to receive LEED EB O&M certification”

To achieve LEED certification, Liberty Mutual engaged the property’s management company, CB Richard Ellis (CBRE) and its Sustainability Programs Group. CBRE’s strategy was to increase the building’s operating efficiency, reduce utility consumption and explore all aspects of the LEED EB rating system relating to the environmental impact of operations, maintenance, construction and the health and welfare of the building.

“Over the past two years, Liberty Mutual has focused on resource conservation and preservation tactics that provide a good return, economically and environmentally. This has resulted in four LEED-Certified buildings and two ENERGY STAR labels,” said Joanne Bragg, facility director for Liberty Mutual’s corporate real estate. “Recognizing our commitment to energy reduction, CBRE worked to make the 10 St. James building a more sustainable facility and we are pleased that through their efforts we are able to add a fifth LEED certified building to our portfolio of green initiatives.”

To reduce base building utility consumption and lower the building’s operating expenses, CBRE conducted an energy audit, a building-wide lighting audit and an on-site waste stream audit. The firm also balanced the building ventilation system to optimize occupant comfort and reduce HVAC-related energy consumption by approximately five percent.

As a result of CBRE’s sustainability efforts, the firm projects Liberty Mutual’s 10 St. James Avenue building will realize approximately $63,900 in annual savings within an expected payback period of two years. In additional, the efforts will save 400,000 kilowatts of energy, reduce 1,323 tons of carbon dioxide emissions and divert from landfills 56 tons of recycling.

“We are extremely proud that 10 St. James Avenue has been recognized as the first building in Boston’s Back Bay to receive LEED EB O&M certification,” said CBRE’s Shay Sims, Vice President, Portfolio Manager/Partner. “We’re honored to be recognized for our environmental efforts and to show that sustainable practices are both good for the environment and the bottom line.”

Liberty Mutual’s 10 St. James Avenue building is located in Boston’s Back Bay with close proximity to the Boston Public Garden and Copley Square. Constructed in 2001, the property is one of Back Bay’s newest top-tier office buildings and features a 400-car garage and approximately 35,000 square feet of retail space. In addition to the offices of Liberty Mutual, the building is home to Pearson Education and law firm Holland & Knight.

Liberty Mutual has a total of 4,091 employees located in 33 offices across Massachusetts, with 2,602 of these employees located in Boston. The majority of Liberty Mutual’s Boston-based employees are located at the company’s Home Office campus, in buildings the company owns at 175 Berkeley Street, 30 St. James Avenue, 10 St. James Avenue and 330 Stuart Street.

About Liberty Mutual Group

Boston-based Liberty Mutual Group is a diversified global insurer and fifth largest property and casualty insurer in the U.S. based on 2008 direct written premium. The Company also ranks 86th on the Fortune 500 list of largest corporations in the U.S. based on 2008 revenue. As of December 31, 2008, Liberty Mutual Group had $104.3 billion in consolidated assets, $94.2 billion in consolidated liabilities and $28.9 billion in annual consolidated revenue.

Liberty Mutual Group offers a wide range of insurance products and services, including personal automobile, homeowners, workers compensation, commercial multiple peril, commercial automobile, general liability, global specialty, group disability, assumed reinsurance, fire and surety.

Liberty Mutual Group (www.libertymutualgroup.com) employs over 45,000 people in more than 900 offices throughout the world.

About CB Richard Ellis

CB Richard Ellis Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services firm (in terms of 2007 revenue). CB Richard Ellis is the only commercial real estate services company named one of the 50 “best in class” companies by BusinessWeek, and was also named one of the 100 fastest growing companies by Fortune.

CB Richard Ellis’s New England practice has offices in Massachusetts, Connecticut, Rhode Island, Maine and New Hampshire. The firm serves real estate owners, investors and occupiers by offering strategic advice and execution for: property leasing and sales, property facilities and project management, corporate services, debt and equity financing, investment management, valuation and appraisal, research and investment strategy, and consulting. Please visit our Web site at www.cbre.com.