1 North Dearborn Wins Regional TOBY Award from BOMA Chicago
April 21, 2020
CHICAGO, IL, April 21, 2020 – Beacon Capital Partners and MB Real Estate (MBRE) announced that 1 North Dearborn won the regional competition for The Outstanding Building of the Year (TOBY) Award in the renovated building category from the Building Owners and Managers Association (BOMA). The award recognizes quality and excellence in commercial buildings in the North Central region of Illinois, Indiana, Michigan, Ohio and Kentucky. All facets of a building’s operations are evaluated and judged, including tenant relations, environmental and green policies, and community involvement. The property had already won the Chicago TOBY in January of this year, and will be considered for BOMA’s international TOBY award this June.
“We are honored to receive this award, and are proud to share it with our exceptional property management team at MBRE in recognition of the successful transformation of 1 North Dearborn,” said Greg O’Neal, Managing Director, Beacon Capital Partners. “Since acquiring the property in 2015, we’ve created a distinctive workspace within a historic building, attracting a diverse tenant roster and leasing over 541,000 square feet.”
Located in the heart of the Chicago Loop, 1 North Dearborn is a 17-story, 963,000-square-foot office building featuring 52,000 square-foot floor plates and 15-foot ceilings. A capital improvement program to reimagine the building, originally constructed in 1917, resulted in a modern, Class A office building with a nod to its historic attributes. Extensive infrastructure improvements have enhanced building operations, energy efficiency and tenant comfort. The building is LEED® Gold Certified and is ENERGY STAR® certified.
“The MBRE management team's close collaboration with Beacon Capital Partners has always been seamless,” said Michael Graham, MBRE's SVP & General Manager at 1 North Dearborn. “Winning the regional award is further recognition of our unified goals and firm commitment to serving a best-in-class building.”
About BOMA International
The Building Owners and Managers Association (BOMA) International is a federation of 88 BOMA U.S. associations and 18 international affiliates. Founded in 1907, BOMA represents the owners and managers of all commercial property types including 10.5 billion square feet of U.S. office space that supports 1.7 million jobs and contributes $234.9 billion to the U.S. GDP. Its mission is to advance a vibrant commercial real estate industry through advocacy, influence and knowledge. Learn more at www.boma.org.
About Beacon Capital Partners
Beacon Capital Partners is a tenant-focused private real estate investment firm with a 75-year legacy of successful real estate development, ownership and management. Beacon invests in high-quality office properties in core urban markets with highly-educated workforces. Our hands-on approach transforms these properties for today’s tenants, with innovative design, state-of-the-art connectivity, modern amenities, and award-winning sustainability and risk management initiatives. From Fortune 100 firms to the leading innovative and growth companies, our tenants are proud to call our distinctive workplaces home.
Beacon has raised over $17 billion in equity for nine investment vehicles as well as multiple joint ventures and co-investments since 1998 from a diverse investor group including endowments, foundations, public, private and foreign pension funds, financial institutions, and sovereign wealth funds. This equity has fueled nearly 180 office investments with a projected total value of nearly $45 billion (including leverage and JV partner equity). For more information, visit www.beaconcapital.com.