Principal Real Estate Investors, one of the largest institutional real estate managers in the United States, was awarded two The Office Building of the Year (TOBY) awards at the recent Building Owners and Managers Association (BOMA) international conference in Seattle. The TOBY Awards Program is an international competition that recognizes properties exemplifying superior building quality and excellence in office building management.
The two award-winning Principal Real Estate Investors-owned properties are the Turnpike Distribution Center in Dallas, Texas, and 200 Kimball Drive in Parsippany, N.J. The Turnpike Distribution Center was recognized in the Historical Building category, and 200 Kimball Drive in the 100,000 - 249,999 Square Feet category.
"We consider it a great honor to have just one building recognized as a TOBY Award winner. To win two TOBY Awards is double the honor," said Rod Vogel, managing director at Principal Real Estate Investors. "We've long been committed to providing and maintaining excellent properties for our partners, clients and tenants. These TOBY Awards are further proof of our commitment."
Turnpike Distribution Center represents 15 free standing buildings with more than 2.8 million square feet and 132 acres located within one of North Texas' largest industrial parks. 200 Kimball Drive is as 175,000-square-foot office building located in an 850,000-square-foot development project called the Center of Morris County.
Three additional Principal Real Estate Investors buildings were also recognized at the conference as BOMA 360 designees. This distinguished designation indicates a building is operating at the highest standards of excellence, according to building operations, risk management, personnel training, energy management, sustainability practices, and tenant and community relations. This year's BOMA 360 designees owned by Principal Real Estate Investors are: 550 South Hope in Los Angeles, the Victor Building in Washington, DC, and Campbell Mithun Tower in Minneapolis.
About Principal Real Estate Investors
Principal Real Estate
Investors manages or subadvises $41.5 billion in commercial real estate
assets. The firm's real estate capabilities include both public and
private equity and debt investment alternatives. Principal Real Estate
Investors is the dedicated real estate group of Principal Global
Investors, a diversified asset management organization and a member of
the Principal Financial Group®.
About Principal Global Investors
Principal Global Investors
is a diversified asset management organization and a member of the
Principal Financial Group®, with expertise in equities, fixed
income and real estate investments, as well as specialized overlay and
advisory services. Principal Global Investors manages $259.8 billion in
assets1 primarily for retirement plans and other
institutional clients2.
About the Principal Financial Group
The Principal Financial
Group® (The Principal®)3 is a global
investment management leader including retirement services, insurance
solutions and asset management. The Principal offers businesses,
individuals and institutional clients a wide range of financial products
and services, including retirement, asset management and insurance
through its diverse family of financial services companies. Founded in
1879 and a member of the FORTUNE 500®, the Principal
Financial Group has $367.1 billion in assets under management4
and serves some 18.2 million customers worldwide from offices in Asia,
Australia, Europe, Latin America and the United States. Principal
Financial Group, Inc. is traded on the New York Stock Exchange under the
ticker symbol PFG. For more information, visit www.principal.com.
1 As of June 30, 2012.
2 Principal Global
Investors is the asset management arm of the Principal Financial Group®
(The Principal®) and includes the asset management operations
of the following subsidiaries of The Principal: Principal Global
Investors, LLC; Principal Real Estate Investors, LLC; Spectrum Asset
Management, Inc.; Post Advisory Group, LLC; Columbus Circle Investors;
Edge Asset Management, Inc.; Morley Financial Services Inc.; Finisterre
Capital, LLP; Origin Asset Management, LLP; Principal Global Investors
(Europe) Limited; Principal Global Investors (Singapore) Ltd.; Principal
Global Investors (Australia) Ltd.; Principal Global Investors (Japan)
Ltd.; Principal Global Investors (Hong Kong) Ltd.; CIMB-Principal
Islamic Asset Management Sdn. Bhd.; and the majority owned affiliates of
Principal International, Inc. Assets under management includes assets
managed by investment professionals of Principal Global Investors under
dual employee arrangements with other subsidiaries of The Principal.
3
"The Principal Financial Group" and "The Principal" are registered
service marks of Principal Financial Services, Inc., a member of the
Principal Financial Group.
4 As of June 30, 2012.
Principal Financial Group
Adam Lackey
515-362-0482
lackey.adam@principal.com