205 West Wacker honored with TOBY Award for Renovated Building by BOMA/Chicago
New York, NY – Alvarez & Marsal Property Investments (AMPI) announced that its property, 205 West Wacker Drive, was honored with the TOBY (The Outstanding Building of the Year) Award in the Renovated Building category from the Chicago Chapter of the Building Owners and Managers Association (BOMA).
The TOBY Awards are the commercial real estate industry's highest recognition honoring excellence in commercial building management and operations in specific categories of building size or type.
Also known as the Engineers Building, the 265,000-sq.-ft., art deco property was built in 1929 and is property managed by Ameritus Real Estate Investment Management. AMPI purchased an 89 percent interest in the property from Greenfield Partners in July 2015. The property is currently 95 percent leased to tenants including Salesforce.com, Corporate Concepts and Leggett & Platt, and is the future home of AMPI’s highly anticipated food hall Wells Street Market, scheduled to open in May 2018.
“We are thrilled that our property 205 West Wacker received a TOBY Award,” said Michael Marsal, founding partner and vice president, AMPI. “This prestigious award is a reflection and validation of our partnership with our tenants and our strong operating procedures. We look forward to making the property an even more exciting place to work with the upcoming opening of Wells Street Market. We’d also like to thank Ameritus for their contributions to this great honor.”
About Alvarez & Marsal Property Investments
Alvarez & Marsal Property Investments, LLC (AMPI) is a wholly-owned investment vehicle of Alvarez & Marsal, Inc. Uniquely positioned due to its size and close relationship with Alvarez & Marsal, a leading global professional services firm, AMPI has the support of a large company with the mobility of a boutique firm benefitting from creative debt and capital financings, broad relationships, and a deep heritage of honesty and integrity.