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10/25/19
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Barings’ 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 250k sf to 499k sf 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 with Transwestern Commercial Services manages the property for Barings, one of the world’s largest diversified real estate investment managers who owns the asset on behalf of institutional investors.
Located at 801 S. Figueroa St., the 462.6k sf 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.
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