Frost Bank Tower Wins TOBY Award

By Razvan Cimpean

Frost Bank Tower in Austin, Texas

Frost Bank Tower won The Outstanding Building of the Year award for the Southwest region in the 1 million square feet category. The building underwent a thorough evaluation of its management, operational efficiency, tenant retention, emergency planning and community impact.

The 33-story, 535,078-square-foot office building is LEED Gold and includes 12,000 square feet of retail space. Located in downtown Austin at 401 Congress Ave., the property is managed by Endeavor Real Estate Group, which also serves as leasing manager. According to data collected by Yardi Matrix, CalSTRS acquired the building from Equity Office Properties Trust in 2007 as part of a portfolio sale that included 10 properties with more than 3.3 million square feet of office space and 40,700 square feet of retail space in the Austin metro.

“There is a true sense of accomplishment and awareness with the management team and service providers as we gathered all the information for our TOBY submission this year. Winning a TOBY confirms our excellence in building management which benefits the building, its owners and tenants,” Sammie Baker, Frost Bank Tower senior property manager, said in prepared remarks.

The TOBY award is presented each year by the Building Owners and Managers Association and it takes into consideration all aspects of the building’s operations. The competition consists of three parts and it begins at the BOMA local association level, with winning entries advancing to the regional level and, in the end, the international level.

Image courtesy of Endeavor Real Estate Group