Principal Real Estate Investors Wins Two International TOBY Awards
Two buildings recognized with The Office Building of the Year Award
August 2, 2012 (Des Moines, Iowa) – 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 assets primarily for retirement plans and other institutional clients.
About the Principal Financial Group
The Principal Financial Group® (The Principal®) 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 $364.1 billion in assets under management 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.
- As of June 30, 2012.
- 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.
- “The Principal Financial Group” and “The Principal” are registered service marks of Principal Financial Services, Inc., a member of the Principal Financial Group.
- As of June 30, 2012.