1 North Dearborn Recognized by BOMA International as The Outstanding Building of the Year®
Chicago, IL | July 22, 2020
CHICAGO, IL, July 22, 2020 – Beacon Capital Partners and MB Real Estate (MBRE) announced that 1 North Dearborn won the international competition for The Outstanding Building of the Year (TOBY) Award in the renovated building category from the Building Owners and Managers Association (BOMA). The prestigious award recognizes quality in commercial buildings and excellence in building management.
The TOBY Awards are the commercial real estate industry’s highest recognition honoring excellence in building management and operations in 16 categories of building type or size. The 2020 competition featured 79 buildings from eight BOMA International regions.
BOMA evaluates all facets of a building's operations, including community involvement, tenant relations, site management and environmental and green policies and procedures. In January of this year, 1 North Dearborn won the local level award, and then advanced to win the regional level in April. The highest honors, the 2020 BOMA International TOBY Winners, were announced at a virtual awards ceremony last week.
“We are incredibly proud that the work we’ve done to successfully transform this historic building and create a modern, distinctive workplace has been recognized by BOMA at local and regional levels, culminating in the top honor of the BOMA International award,” said Greg O’Neal, Managing Director, Beacon Capital Partners. “The competition for this award is fierce, and we credit our partners at MBRE for helping set 1 North Dearborn even further apart from our peers this year.”
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.
Beacon completed a capital improvement program to reimagine 1 North Dearborn, originally built in 1917, into a modern, Class A office building with a nod to the historical attributes of the landmark building. The renovations pair elegant authenticity with modern conveniences and amplify 1 North Dearborn’s street presence with a redesigned building entry and lobby. A lobby art program, “America In Color,” features the work of contemporary artists on a rotating basis. Executive-level amenities for tenants include a state-of-the-art fitness center and a rooftop terrace and lounge offering views of Lake Michigan and Millennium Park. Rooftop space is also dedicated to an organic garden and honeybee program in partnership with The Best Bees Company. Extensive infrastructure improvements have enhanced building operations, energy efficiency and tenant comfort. The building is LEED® Gold Certified and is an EnergyStar® Partner of the Year.
“Winning the international award is a true honor and a testament to the unified goal of Beacon Capital Partners and MBRE to improve and continue to maintain a best-in-class building,” said Michael Graham, MBRE's SVP & General Manager at 1 North Dearborn. “Congratulations to everyone on the team for the well-deserved global recognition.”
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.
About MB Real Estate Services Inc.
Founded in 1982, MB Real Estate is a full-service real estate organization that provides multifaceted expertise in Asset/Facilities Management, Leasing Services, Project/Construction Management, Tenant Representation, and Investment Services. MBRE Healthcare and its independent affiliate fund manager, ROA Holdings, are a full-service real estate entity that acquires, develops, leases, and manages healthcare facilities across the United States. MBRE is headquartered in Chicago, with regional offices in New York, Atlanta, Columbus, Orlando, Dallas and Denver. For more information, visit www.mbres.com. For company updates, follow us on Facebook, Instagram, Twitter, and LinkedIn.