Property Also Honored with Technology Best Practice Recognition at 2019 Awards
October 22, 2019
Los Angeles – Transwestern Commercial Services (TCS) today announces 801 Tower in Downtown Los Angeles received The Outstanding Building of the Year (TOBY) award from the Greater Los Angeles Building Owners and Managers Association (BOMA). Competing in the 250,000 to 499,000 square feet category, 801 Tower also received the Best Practice Award: Technology in recognition of technological expertise in energy efficiency and building control systems. TCS General Manager Neal Perkey manages the property, which is owned by Barings, one of the world’s largest diversified real estate investment managers, on behalf of institutional investors
“We’re very excited about this award and proud of the sustainable initiatives our team implemented at 801 Tower,” said Perkey. “Transwestern is committed to providing a premier, sustainable environment for our tenants, and this award recognizes our dedication to maintaining the highest standards in property management and operations.”
Located at 801 S. Figueroa St., the 462,626-square-foot office building has undergone an extensive modernization and repositioning program since Transwestern assumed management in 2014. Originally built in 1992, the property features renovated interior and exterior common areas, a redesigned lobby, modernized building systems and energy-efficient upgrades, along with an award-winning sculpture garden. 801 Tower earned LEED® Gold designation in 2017. The property is currently 94% occupied despite high competition for credit tenants in Downtown Los Angeles.
“Transwestern has done an outstanding job helping us restore 801 Tower back to its position as one of the premier office buildings in Downtown Los Angeles,” said John Ockerbloom, Head of U.S. Real Estate Equity for Barings. “The physical improvements and sustainability initiatives, combined with Transwestern’s proactive management approach, have attracted a premier roster of tenants and enabled 801 Tower to outperform the market. We are thrilled that 801 Tower and Transwestern have been recognized by BOMA for this prestigious award.”
Presented by BOMA annually, the TOBY award highlights excellence in building management, operational efficiency, tenant retention, emergency planning and community impact across numerous categories. The recipients are invited to submit their properties to the regional awards.
ABOUT TRANSWESTERN COMMERCIAL SERVICES
Transwestern Commercial Services (TCS) is a privately held real estate firm of collaborative entrepreneurs who deliver a higher level of personalized service and innovative client solutions. Applying a consultative approach to Agency Leasing, Asset Services, Occupier Solutions, Capital Markets and Research, our fully integrated global organization adds value for investors, owners and occupiers of all commercial property types. We leverage market insight and operational expertise from across the Transwestern enterprise, which includes firms specializing in development and real estate investment management. TCS has
34 U.S. offices and assists clients from more than 200 offices in 37 countries through strategic alliances with France-based BNP Paribas Real Estate and Canada-based Devencore. Experience Extraordinary at transwestern.com and @Transwestern.
Barings is a $325+ billion* global financial services firm dedicated to meeting the evolving investment and capital needs of our clients and customers. Through active asset management and direct origination, we provide innovative solutions and access to differentiated opportunities across public and private capital markets. A subsidiary of MassMutual, Barings maintains a strong global presence with business and investment professionals located across North America, Europe and Asia Pacific. Learn more at www.Barings.com. *As of June 30, 2019.