Local landmark lands award for Lillibridge

AUSTIN, Texas, Mar-10, 2010 - When Seton Medical Park Tower opened in 1967, it's probably fair to say that few would have expected the building to still be winning awards more than four decades later.

Yet the recent accolades should not come as a surprise. At least one original medical group is still practicing in the building after 43 years and more than half of the physician-tenants still there after more than 30 years. That remarkable track record speaks volumes about the excellence of the building's location and Seton's clinical reputation, as well as the hard work of the property's owners and managers.

Recently, those efforts were formally recognized as Lillibridge-managed Seton Medical Park Tower won a local TOBY (The Office Building of the Year) Award from the Building Owners and Managers Association (BOMA) of Austin Inc. The nine-story, 274,094 square foot medical office building (MOB) was one of four local TOBY winners announced Feb. 18, and is now slated to compete for the Southwest Region TOBY Award March 27.

Seton Medical Park Tower rises from an 8.15-acre site adjacent to Seton Medical Center in Austin. It is part of the Seton Family of Hospitals, which was recently recognized as the top-ranked health system in Texas by Modern Healthcare magazine and healthcare data consulting firm Verispan. The MOB is occupied by 19 tenants - all medical physician offices and clinics.

Lillibridge, a healthcare real estate firm and Heitman, a real estate investment management firm, acquired the Austin landmark in July 2004. The two Chicago-based firms launched a multi-year program of capital improvements soon thereafter. Updated floor and wall coverings in warm, welcoming hues were installed in public areas to complement the vibrant murals depicting mythical, intellectual and scientific origins of modern medicine.

But perhaps more notably, Lillibridge installed more efficient lighting and heating, ventilating and air conditioning (HVAC) systems - reducing electrical consumption by 13 percent for the three years that ended Dec. 31. That earned the building Energy Star recognition in both 2008 and 2009 for efficient systems and operations from the U.S. Department of Energy (DOE) division of the U.S. Environmental Protection Agency (EPA).

"It is an honor for any property manager to earn a TOBY Award," Lillibridge President & CEO Todd W. Lillibridge says. "But it is especially satisfying to be recognized for superior management, operations and energy efficiency for an older building. This award is a tribute to the efforts of Chuck Fendrich, Executive Vice President of Portfolio Management; Becky Dickerson, General Manager; and the entire property management team, who truly exemplify Lillibridge's Physicians FirstSM philosophy."

Incidentally, if this story sounds familiar - it is. The same building, Seton Medical Park Tower, also won a local TOBY in 2007. Another Lillibridge-owned MOB on a Seton Healthcare Network campus - Seton Northwest Health Plaza on the Seton Northwest Hospital campus - also won local, regional and international TOBY awards in 2008.

If Lillibridge and Seton Medical Park Tower go on to win a Southwest Region TOBY Award later this month, they will advance to compete for an International TOBY, which will be awarded in June. If that happens, it will be the third time in just four years that a Lillibridge property has claimed International TOBY honors.

Created in 1985, the TOBY Award is regarded as the most prestigious and comprehensive evaluation in the commercial real estate profession. Described as the "Academy Awards" for office buildings, the TOBY program recognizes quality in office buildings and excellence in property management. All facets of a building's operations are thoroughly evaluated during the judging process, including tenant relations, community impact and employee programs. Detailed property inspections, floor plans, building standards and photographs are also judged as part of the competition.

A limited amount of space is currently available in the award-winning Seton Medical Park Tower. Seton-affiliated medical practices are encouraged to contact David Wardlaw of Lillibridge 512 454 3646 or david.wardlaw@lillibridge.com to learn about leasing opportunities.