First time one management/ownership team wins two International TOBYs in same year
Chicago-based Glenstar Properties has announced the three-building Energy Square complex and adjoining Meadows Building on its Energy Square campus in North Dallas each won a 2024 International TOBY® award for The Outstanding Building of the Year at the Building Owners and Managers Association (BOMA) annual conference held last week in Philadelphia. Glenstar both manages and has an ownership stake in the 1.1 million-square-foot Energy Square office campus at North Central Expressway and University Drive. It is unprecedented for the same management team to win two TOBY awards in the same night at the BOMA International Awards banquet.
Energy Square’s three high-rises won a TOBY award in the Renovated Building category. The office towers, built in 1974, 1981 and 1986, completed a $70 million renovation in 2019 by owners Glenstar Properties and Affinius Capital (formally USAA Real Estate). Improvements included a new entry drive, new connections between the three high-rises, and enhanced landscape plaza areas and shared amenities. Other additions include a large tenant conference center, fitness center, rooftop patios and multiple outdoor gathering spaces for workers. New dining options were added in each building, too, ranging from snack bars to full-scale restaurants.
Also located on the Energy Square campus is the midcentury modern Meadows Building, which won a TOBY award in the Historical Building category. The architecturally significant building offers a state-of-the-art workplace that has attracted architecture and entrepreneurial tenants. Built by legendary Dallas oilman Algur Meadows in 1955, the blue tile tower is one of the city’s most recognizable landmarks and was Dallas’ first suburban office tower. A recent rehabilitation preserved its 1950s chic style, including its massive balconies, extensive glass windows, terrazzo lobby flooring and Georgia Pink marble cladding.
BOMA and its international affiliates recognized 16 commercial properties across the nation with a TOBY award at its annual conference. 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. To win an International TOBY award, a property first must win both local and regional competitions. Judging is based on criteria that include community impact, tenant and employee relations programs, energy management, accessibility, sustainability measures, emergency evacuation procedures, building personnel training programs and overall excellence. Additionally, building inspections are conducted by a team of industry experts.
About Glenstar:
Glenstar Properties is a Chicago-based national commercial real estate firm specializing in industrial development, reimagined office and multifamily properties. Founded in 2004 by Michael Klein, along with Rand Diamond, Glenstar has successfully developed or redeveloped more than $2 billion in commercial space comprising 10 million square feet across the U.S. Its nimble, tenant-focused approach and vertically integrated structure allow Glenstar not only to pursue and execute opportunistic projects, but also to oversee and manage them seamlessly.
Energy Square Campus: Owned and managed by Glenstar Properties, the three-building Energy Square complex and adjoining Meadows Building on the Energy Square campus in North Dallas each won a 2024 International TOBY® award for The Outstanding Building of the Year.
Meadows Building: The midcentury modern Meadows Building, rehabilitated and managed by Glenstar Properties, won a 2024 International TOBY® award for The Outstanding Building of the Year in the Historical Building category.