CRE Midwest

Five Midwest properties take home an award at 2019 TOBYs

500 W. Madison Street, Chicago. 500 W. Madison Street, Chicago.
550 W. Washington Street, Chicago. 550 W. Washington Street, Chicago.
AT&T Tower, Minneapolis. AT&T Tower, Minneapolis.
Olympia Centre, 737 North Michigan Avenue, Chicago. Olympia Centre, 737 North Michigan Avenue, Chicago.

The commercial real estate industry honored 17 commercial properties with The Outstanding Building of the Year (TOBY) Awards at the Building Owners and Managers Association (BOMA) International’s annual conference, the 2019 BOMA International Conference & Expo, held on June 25 in Salt Lake City. Five Midwest properties—three in Chicago and two in the Minneapolis metro—won an award at the event.

The TOBY Awards are the commercial real estate industry’s highest recognition honoring excellence in commercial building management and operations in specific categories of building size or type. To win an International TOBY Award, a property first must win both local and regional competitions. Judging is based on community impact, tenant and employee relations programs, energy management systems, accessibility, emergency evacuation procedures, building personnel training programs and overall quality indicators. A team of expert industry professionals also conducted comprehensive building inspections.

In Chicago, 500 West Madison won in the Over One Million Square Feet category. The property is managed by Transwestern and owned by KBS Realty Advisors. In the 250,000 to 499,999 Square Feet category, the winner was 550 West Washington, managed by JLL and owned by MetLife, Inc. Finally, in the Mixed-Use category, the winner was 737 North Michigan/Olympia Centre in Chicago. The property is managed by CBRE and owned by 737 North Michigan Avenue Investors, LLC.

“It’s an honor to receive this award as a testament to the world-class services CBRE provides at 737 North Michigan,” said Neil Pendleton, managing director, investor services for CBRE in Chicago. “This is made possible through our wonderful partnership with our client, and our team’s incredible efforts to deliver operational excellence on a daily basis.”

In Minnesota, AT&T Tower in Minneapolis won in the 500,000 to One Million Square Feet category. The property is managed by Ryan Companies US, Inc. and owned by ASB Capital Management, Inc. Waterford Innovation Center in Plymouth, Minnesota won in the Industrial Office Building category—a new category at the TOBY Awards. Waterford Innovation Center is owned and managed by Duke Realty Corporation. All five properties are BOMA 360 Performance Program buildings.