PR Newswire

Coretrust Leadership in Office Health & Safety Tech Results in 200,000 SF of New, Renewing Leases

December 15, 2021

Multiple state-of-the-art health and wellness technologies plus major operational improvements installed at its buildings by Coretrust Capital Partners, a major office landlord based in Los Angeles, is winning the hearts of tenants. The company has signed 200,000 square feet of new and renewed tenant leases in the past nine months at its properties, FourFortyFour South Flower in downtown Los Angeles, PASARROYO office campus in Pasadena, CA and 2 Liberty Place in downtown Philadelphia..

“It is rewarding to see tenants leasing or renewing leases at rates that are above those available elsewhere because they see the value of the safe, healthy and stress-free workplaces we have created,” said Thomas S. Ricci, Managing Principal and a founder of Coretrust.  He noted that 70% of the leases are new with 30% renewals, all averaging 10-year terms.

“This is a flight to scientifically verified healthy office environments, a trend that is going to accelerate as companies recognize employees will be demanding safe workplaces in order to go back to the office,” Mr. Ricci adds.  “From its very beginning, Coretrust has sought the most superior building technologies for our properties to best serve the health and wellbeing of our tenants and visitors. The pandemic galvanized us to accelerate our efforts that were already underway to make our buildings best in class in health and wellness,” Mr. Ricci states.

Coretrust is recognized as an industry leader in establishing smart and safe office health environments by reputable third-party global safety science organizations including UL and ISSA.  Coretrust’s initiatives have been independently audited and validated by these organizations, resulting in its properties receiving the first-ever global UL Tier-2 Healthy Building Marks for Indoor Air Quality and Water Quality and one of the first large scale commercial office portfolios to receive ISSA’s Global Biorisk Advisory Council (GBAC) Star Certification and Well Building Institute’s Health and Safety Certification. In addition, all the Coretrust office properties have earned LEED Gold Certification from the U.S. Green Building Council and Energy Star Certification from the US Department of Energy.