The 500 West Madison engineering team was given a 2016 Excellence in Engineering award by ASHRAE’s Illinois chapter. The award recognizes outstanding achievements by members who have successfully applied innovative building design in the areas of occupant comfort, indoor air quality and energy conservation.
Over the past two years, the property’s engineering team participated in a monitoring-based commissioning project, which identified low-cost, rapid-payback energy reduction measures. The efforts of the engineering team resulted in seven energy reduction measures that totaled 1,992,168 kWh, a projected value of over $110,000 in annual savings for tenants.
Phil Koth, the property’s chief engineer, was also honored recently with a Service Champion award by Premier Office Magazine. Additionally, Feltain Miller, one of the supervisors of the property’s security team, was awarded the Illinois Security Professionals Association’s (ISPA) Security Life Saving Award for helping to save the life of someone onsite at the property who had a medical emergency.
“We are truly proud of the efforts by our team at 500 West Madison, who go above and beyond to serve those onsite at the property,” said Brett Merz, senior vice president at KBS and asset manager for the property. “Our security team works diligently around the clock to ensure the safety of our tenants and visitors, and the engineering team has implemented innovative energy efficiency methods, saving tenants money and promoting sustainability.”
500 West Madison is Chicago’s largest Class A, LEED-certified office tower and is located in the city’s premier West Loop neighborhood. The iconic property is 40 stories and 1.46 million square feet, featuring a distinct art deco design. Situated above Ogilvie Transportation Center, tenants can easily access the property in the central business district from Chicago’s suburbs via trains and buses.
This release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements relating to KBS REIT III’s ability to invest in and manage a diverse portfolio, and the performance of 500 West Madison and of the Chicago real estate market. These statements are subject to 500 West Madison’s actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.