Back in the News: 201 Spear Street
201 Spear Street an 18-story, 246,563-square-foot Class-A office tower in San Francisco’s South Financial District is in the headlines again. Managed by Cushman & Wakefield, the KBS owned asset has advanced to the international level of competition in the coveted TOBY Awards, which recognizes the Outstanding Building of the Year.
The Bay Area TOBY Award combines the BOMA San Francisco and BOMA Oakland/East Bay members. 201 Spear Street is competing in the 250,000 – 499,999 square foot office building category.
Sponsored by BOMA (Building Owners Managers Association), the TOBY Award is the single most prestigious, comprehensive commercial building evaluation program to recognize and honor excellence in office building operations and management. BOMA advances the commercial real estate industry through advocacy, professional development and information exchange.
Earlier this year, 201 Spear was victorious at the local level, where the building competed against two highly regarded properties in the same size category. After taking home the local TOBY, 201 Spear advanced and subsequently won the regional competition, which included competitors from across BOMA’s Pacific Southwest region.
Creme de La Creme
According to Mike Meyer, Director of Asset Services with Cushman & Wakefield, “We are very honored to be recognized with a TOBY award. KBS has invested in world class amenities and systems at 201 Spear, and our team strives to deliver world class service each and every day.”
The Judging Process
Throughout the various levels of the competition, all facets of a building’s operations are thoroughly examined during the judging process, including tenant relations programs, community involvement, emergency preparedness & security standards, energy conservation, environmental sustainability, and continuing education for building personnel. Floor plans, site plans and photographs round out the portfolio, providing an extensive examination of the building by the judges.
Levels of Competition
The Toby Awards annual competition consists of three hotly contested levels. The competition begins at the BOMA local association level and winning entries advance from there to the regional level and, finally, regional winners advance to the international level.
“The entire team is thrilled to be moving on to the international level of competition. It’s nice to see when a collaborative and unified group effort, punctuated with hard work is rewarded with a meaningful acknowledgement such as the TOBY Awards,” said Jill Vivanco, 201 Spear Street’s Property Manager.
The international level is clearly the most celebrated and coveted stage of the entire contest and will be presented at the BOMA International Conference in Washington, D.C. on June 28, 2016.
Benefits of The TOBY Award Competition
What are the benefits of applying for and/or winning a TOBY Award? First and foremost, the management staff and ownership can take pride in and exceptional asset and the fact that it is being considered as a player in a major, national and international awards competition. Whether you win a TOBY Award on the local, regional or international level, this level of recognition automatically strengthen a buildings resume, leasing power, online presence and overall competitive advantage.
Team Building: A Common Goal
The application process itself brings together your diverse property management team in pursuit of a common goal and offers a great opportunity for team building. Because the competition touches upon every aspect of building management and operations, each member of the team becomes an important component is an integral part to the success of the competition. Participating in the application and competition process strengthens current programs in place at the building, adding value for the owner.
Need More Information on Commercial Real Estate Asset Management?
Please contact Director of Asset Services Mike Meyes at email@example.com
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 $31.5 billion via 14 separate accounts, six commingled funds, five sovereign wealth funds and six non-traded REITs. For information, visit www.kbs.com.
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