May 02, 2018
CHICAGO – Transwestern today announces 500 W. Madison in Chicago, managed by Transwestern and owned by KBS, was selected as a regional winner of The Outstanding Building of the Year (TOBY) Award. The building, located in the Chicago Loop, will now advance to the international competition, where winners will be announced June 26, 2018, in San Antonio.
“This regional recognition is a testament to the efforts of the management, engineering, security and custodial teams each and every day,” said Micah Larmie, Tranwestern Senior Vice President of Asset Services. “Transwestern is thankful to continue to partner with KBS to operate 500 W. Madison at a level that consistently excels beyond industry standards.”
500 W. Madison is a 40-story, 1.46 million-square-foot, mixed-use, LEED® Gold-certified building that sits atop the Ogilvie Transportation Center, one of two main train stations connecting the suburbs to downtown Chicago. The building is comprised of nearly 1.4 million square feet of office space and more than 80,000 square feet of retail on the first two levels with more than 45 stores and restaurants. The tower is home to more than 90 companies with 6,000 employees.
"We are extremely proud to win this distinguished award and reconition for 500 W. Madison,” said Dan Park, Senior Vice President at KBS. “This a direct result of the continuous dedication and hardwork our team provides each day to our tenants and customers. We look forward to the upcoming international competition in San Antonio and to be considered among the best buildings from around the world."
Applicants from Chicago, Suburban Chicago, Columbus, Indianapolis, and Metro Detroit competed for the North Central Region TOBY awards, where a total of 16 properties competed in 11 categories.
Transwestern is a privately held real estate firm of collaborative entrepreneurs who deliver a higher level of personalized service – the Transwestern Experience. Specializing in Agency Leasing, Tenant Advisory, Capital Markets, Asset Services and Research, our fully integrated global enterprise adds value for investors, owners and occupiers of all commercial property types. We leverage market insights and operational expertise from members of the Transwestern family of companies specializing in development, real estate investment management and research. Based in Houston, Transwestern has 35 U.S. offices and assists clients through more than 180 offices in 37 countries as part of a strategic alliance with BNP Paribas Real Estate. Experience Extraordinary at transwestern.com and @Transwestern.
KBS Capital Advisors is the external advisor to KBS Real Estate Investment Trusts (REITs), and is an affiliate of KBS Realty Advisors, a private equity real estate company and SEC-registered investment adviser founded in 1992. Since its inception, KBS-affiliated companies have completed transactional activity in excess of $37 billion via 16 separate accounts, six commingled funds, five sovereign wealth funds and seven non-traded REITs. For information, visit www.kbs.com.