11500 C Street completed on schedule, on budget

CIRI Land Development Co. (CLDC) completed construction of 11500 C Street, a 40,000-square-foot building in early March. Doyon Ltd. is the sole lessee of the building and took occupancy on March 7. The building is the first phase of a multi-structure south Anchorage office and retail campus project by CLDC.

CLDC tailored the building to meet Doyon’s needs. CLDC situated the building to maximize views of the mountains and customized the construction schedule to meet Doyon’s move-in date. The architectural model is modern with characteristic Alaska details, such as wood siding panels and an outdoor patio. 11500 C Street was the only new commercial office building built in Anchorage in 2010.

“The building is a fine example of a built-to-lease real estate project that satisfies its tenant’s needs while maximizing the value of its location,” said Margie Brown, CIRI president and chief executive officer. “I am pleased to welcome Doyon into its new Anchorage offices.”

The hiring of Alaska Natives for the project was a high priority for CIRI and Doyon. The contractor and subcontractors met their objectives by hiring Alaska Natives for more than 40 percent of the total projects labor hours.

The building will complete its Leadership in Energy and Environmental Design (LEED) silver certification in summer 2011. The LEED certification system was chosen for this project for its international recognition, comprehensiveness and technical transparency. LEED certification promotes design and construction practices that increase profitability while reducing waste and harmful environmental impacts. LEED-certified buildings often yield higher tenant returns and reduce associated energy-related operating costs.

CLDC is a real estate development, investment and property management company with a commercial real estate portfolio located primarily in Alaska, Texas, California, and Hawaii. CLDC is wholly owned by CIRI and is a certified Minority Business Enterprise. To learn more about CLDC, visit www.cirirealestate.com.