The Madison Building, Downtown Detroit's Hub for Creative Technology Companies, Wins International TOBY Award

Prestigious real estate honor represents a first-ever worldwide TOBY win for Bedrock

Jul 08, 2015, 13:08 ET from Bedrock Real Estate Services

DETROIT, July 8, 2015 /PRNewswire/ -- The Building Owners and Managers Association (BOMA) International has selected the Madison Building, owned and managed by Bedrock Real Estate Services, as a winner of 'The Outstanding Building of the Year' (TOBY) Award, the most prestigious and comprehensive award of its kind in the commercial real estate industry. Before achieving this global recognition, the building, located at 1555 Broadway Street in downtown Detroit, first won local and regional TOBY awards in the under 100,000 square foot category. Eight regional winners from Australia, Canada and the United States then advanced to the international competition where they were thoroughly evaluated in several categories including safety and security, tenant relations programs, community involvement, emergency preparedness, environmental stewardship, and continuing education for building personnel.

"We are truly honored to be singled out among these distinguished properties as one of the best in the world," said Jim Ketai, Managing Partner and CEO of Bedrock Real Estate Services. "To win an award at this level takes hard work and dedication from each and every team member within every part of our organization. This is a testament to our team's ongoing commitment to safety, best-in-class service, and exceptional property management practices. We are extremely proud."

In 2011, Bedrock acquired and completely renovated the historic 5-story Madison Theater Building as its first real estate investment in downtown Detroit. Today, the state-of-the-art building has collaborative work areas and meeting rooms, a 135-seat auditorium and a rooftop event space overlooking Comerica Park and Ford Field, and is at the epicenter of Detroit's burgeoning technology district. What started with one building has grown into the 'Madison Block' with more than 60 companies and nearly 300 tech workers. The area will be further enhanced by the addition of Rocket Fiber, a high-speed fiber network and the M-1 RAIL line which will soon open alongside the Madison Block on Woodward Avenue.

In less than five years, Bedrock has invested $1.8 billion in more than 75 properties totaling over 12.5 million square feet of commercial real estate in the city's urban core and has attracted more than 130 new businesses. In all, Bedrock tenants now have more than 20,000 plus employees concentrated in the downtown area and the workforce continues to grow at a rapid pace.

"The BOMA judges referenced Detroit's ongoing resurgence and highlighted the fact that we're leading the way in bringing new energy, creativity and vitality to the city," said John Guardiola, Bedrock's Vice President of Engineering and Sustainability.

Guardiola accepted the award June 30 in Los Angeles during BOMA International's 2015 Every Building Conference & Expo along with Senior Property Manager, Cas Daniewski, and Property Manager, Nate Adams.

"The panel was also impressed by our community outreach, tenant relations, energy and sustainability initiatives and the education we provide our property management staff," Guardiola added. "This is a team win and we will continue to raise the bar from here."

Dating back to 1917, the Madison Building is known as the first major movie theater in Detroit. Modernizations include SMART building technology allowing for remote control operating systems, energy efficiency and sustainability. The coffee shop and casual cafe Crane's on Broadway is on the ground floor, serving beer, wine, sandwiches and salads. Signature tenants include Twitter, Microsoft Ventures, Detroit Venture Partners, Ludlow Ventures, Exxodus Pictures, reach | influence, MarxModa, Skidmore Studio, Are You a Human, iRule, Ginkotree, BoostUp and Quikly.

The Madison Building and Chrysler House (719 Griswold Street) also received BOMA 360 Performance designations at the conference. The BOMA 360 Performance program is designed to validate and recognize commercial properties that demonstrate best practices in all major areas of building operations and management. For more information on the BOMA 360 Performance designation, visit www.boma.org/360.

About BOMA International
The Building Owners and Managers Association (BOMA) International is a federation of 91 BOMA U.S. associations and 17 international affiliates. Founded in 1907, BOMA represents the owners and managers of all commercial property types including 10.4 billion square feet of U.S. office space that supports 1.8 million jobs and contributes $226.7 billion to the U.S. GDP. Its mission is to advance a vibrant commercial real estate industry through advocacy, influence and knowledge. Learn more at boma.org.

About Bedrock Real Estate Services
Detroit-based Bedrock Real Estate Services is a full-service real estate firm specializing in purchasing, leasing, financing, developing and managing commercial and residential space. Since its founding in 2011, Bedrock has located more than 130 tenants to Detroit's Central Business District into both office and retail spaces. In addition, Bedrock has invested more than $1.8 billion in more than 75 properties totaling over 12.5 million square feet of commercial real estate in downtown Detroit. For more information, visit bedrockmgt.com or follow Bedrock on Facebook and Twitter: @BedrockRES.

Editor's Note: The Detroit engagement timeline and tenant listing are available here.

SOURCE Bedrock Real Estate Services



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