Tower II at La Jolla Commons is believed to be nation's largest net-zero energy building; houses more than 1,600 employees
SAN DIEGO - April 2, 2014 -LPL Financial LLC, the nation's largest independent broker-dealer, an RIA custodian, and a wholly-owned subsidiary of LPL Financial Holdings Inc. (NASDAQ: LPLA), today celebrated the opening of its new San Diego headquarters, Tower II at La Jolla Commons, which is believed to be the largest net-zero energy commercial office building in the United States. In the weeks leading up to the office's opening, more than 1,600 LPL Financial employees from seven office buildings in La Jolla moved to the La Jolla Commons facility.
The 13-story, 415,000-square-foot office tower demonstrates LPL Financial's commitment to sustainability and social responsibility by incorporating among the most sophisticated available green technologies and health and wellness benefits for its employees in its office design. The tower utilizes three fuel cells to convert biogas into carbon-neutral electricity that will allow the building to achieve net-zero energy status. In order to monitor and manage the tower's reduced energy consumption, energy meters are located throughout the building and all surplus power is pushed back to the grid through San Diego Gas & Electric. In addition, the tower is furnished with LED lights that feature automatic dimming capabilities based on the degree of available natural light, as well as occupancy sensors that turn lights off by detecting unoccupied offices.
Eighty-eight percent of the tower's water consumption, nearly 2.5 million gallons annually, is recycled and used for irrigation and other building needs. Employee-focused sustainability programs encourage employees to recycle, compost and carpool. On-site charging stations for electric vehicles are also available for employee use at no cost.
Employee comfort and productivity was also a top priority for LPL Financial when designing the tower. With the help of ergonomists, customized furniture was designed to be easily adjusted with the touch of a button to accommodate various work styles. An under-floor air-distribution system with diffusers allows employees to control the flow of air into their individual workspaces.
In addition to these sustainable and ergonomic features, Tower II at La Jolla Commons also offers a number of employee amenities, including an on-site health and fitness center with a certified wellness manager and a cafeteria featuring healthy food options.
"At LPL Financial, we are ambitiously working to be an employer of choice. As part of this commitment, we knew that our work environment needed to make an investment both in our employees and in the San Diego community. We saw designing this state-of-the-art building as core to enhancing the productivity, capabilities and well-being of our employees, which in turn allows us to better serve our clients," said Mark Casady, chairman and CEO of LPL Financial. "By bringing employees together in this beautiful and inspiring workspace, we are ushering in a new era of collaboration and innovation that we believe will yield benefits not only for employees but also for the clients we serve."
"Utilizing advances in technology to create efficiencies is at the heart of what LPL Financial provides for its advisors and institutional clients, and it is only fitting that we adopted the same approach in designing our new office tower. LPL Financial would like to thank Hines, J. P. Morgan Asset Management, Cresa, Gensler, Whiting Turner, WSP, San Diego Gas & Electric, GE Lighting, and Bloom Energy for their partnership as we worked together to create what we believe is the largest net-zero energy commercial office building in the country. Leveraging technology and advanced materials to minimize our impact on the environment, while creating a positive work environment for our employees, is consistent with our values as a firm and indicative of our strong commitment to being a socially responsible corporate citizen," Casady added.
Hines Senior Managing Director Paul Twardowski said, "It was a pleasure collaborating with LPL Financial to push the sustainability envelope. Such collaboration has resulted in an extremely effective business solution that we are confident will bring significant value to LPL Financial investors, clients and employees for years to come."
About LPL Financial
LPL Financial, a wholly owned subsidiary of LPL Financial Holdings Inc. (NASDAQ: LPLA), is the nation's largest independent broker-dealer (based on total revenues, Financial Planning magazine, June 1996-2013), an RIA custodian, and an independent consultant to retirement plans. LPL Financial offers proprietary technology, comprehensive clearing and compliance services, practice management programs and training, and independent research to more than 13,600 financial advisors and approximately 700 financial institutions. In addition, LPL Financial supports approximately 4,500 financial advisors licensed with insurance companies by providing customized clearing, advisory platforms and technology solutions. LPL Financial and its affiliates have more than 3,000 employees with primary offices in Boston, Charlotte, and San Diego. For more information, please visit www.lpl.com.
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Hines is a privately owned real estate firm involved in real estate investment, development and property management worldwide. The firm's historical and current portfolio of projects that are underway, completed, acquired and managed for third parties includes 1,283 properties representing more than 516 million square feet of office, residential, mixed-use, industrial, hotel, medical and sports facilities, as well as large, master-planned communities and land developments. Currently, Hines manages 378 properties totaling 151.9 million square feet, which includes 84.3 million square feet for third parties. In the Greenspoint area, Hines and the GM Pension Plans own approximately two million square feet of office and retail space. With offices in 111 cities in 18 countries, and controlled assets valued at approximately $25.2 billion, Hines is one of the largest real estate organizations in the world. Hines is also a world leader in sustainable real estate strategies, with extensive experience in LEED, ENERGY STAR®, BREEAM, Haute Qualité Environnementale and DGNB green building rating systems. Visit www.hines.com for more information.