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Prime Group Realty Trusta?s 330 North Wabash Avenue and Continental Towers Properties EarnBOMA 360 Designation in Recognition o

^{Published on 2010-01-07 19:40:56 - Market Wire}
 

CHICAGO--([ BUSINESS WIRE ])--Prime Group Realty Trust (NYSE: PGEPRB) (the "Company") announced today that 330 North Wabash Avenue in Chicago and Continental Towers in Rolling Meadows are the first properties in the state of Illinois to be designated BOMA 360 Performance Buildings by the Building Owners and Managers Association International ("BOMA"). The BOMA 360 Performance Program validates and recognizes commercial properties that demonstrate best practices in building operations and management.

"We are proud to designate 330 North Wabash Avenue and Continental Towers as BOMA 360 Performance Buildings in recognition of the high standards that Prime Group Realty Trust's management teams have achieved in every aspect of building operations and management"

Prime Group Realty Trust's President and CEO Jeffrey Patterson stated that the "designation is a great way to recognize the exemplary management at our properties. The managers of these properties, both of which are past recipients of BOMA's Office Building of the Year Award, continue to provide innovative management and operational processes at the properties, which benefit the tenants and owner alike."

"We are proud to designate 330 North Wabash Avenue and Continental Towers as BOMA 360 Performance Buildings in recognition of the high standards that Prime Group Realty Trust's management teams have achieved in every aspect of building operations and management," said BOMA International Chair James A. Peck, RPA, FMA, senior director of asset services, CB Richard Ellis. "By achieving the BOMA 360 designation for its buildings, the Company demonstrates to its tenants, prospective tenants and the community that their properties are being managed to the highest standards of excellence."

The BOMA 360 Performance Program evaluates properties in six major areas: (i) building operations and management; (ii) life safety, security and risk management; (iii) training and education; (iv) energy; (v) environment/sustainability; and (vi) tenant relations and community involvement. The BOMA 360 Performance Program takes a holistic approach to evaluating a building's operations and management, and benchmarks a building's performance against industry standards. The program comes at a critical time, as building owners and managers are looking to differentiate themselves in a demanding market.

For more information on the BOMA 360 Performance designation, visit [ www.boma.org/GetInvolved/BOMA360 ].

About Prime Group Realty Trust

Prime Group Realty Trust is a fully-integrated, self-administered, and self-managed real estate investment trust ("REIT") which owns, manages, leases, develops, and redevelops office and industrial real estate, primarily in metropolitan Chicago. The Company currently owns 8 office properties containing an aggregate of 3.3 million net rentable square feet and a joint venture interest in one office property comprised of approximately 101,000 net rentable square feet. The Company leases and manages approximately 3.3 million square feet comprising all of its wholly-owned properties. In addition, the Company is the asset and development manager for an approximately 1.1 million square foot office building located at 1407 Broadway Avenue in New York, New York. For more information about Prime Group Realty Trust, contact the company's Chicago headquarters at (312) 917-1300 or visit its web site at [ www.pgrt.com ].

About 330 North Wabash Avenue and Continental Towers

330 North Wabash Avenue is a 52-story mixed-use tower, landmarked by the City of Chicago, and is the last and largest office structure designed by renowned architect Mies van der Rohe. The building won The 2007/2008 Office Building of the Year ("TOBY") award for the North Central Region in the category of over one million square feet, competing against buildings in more than five other states for the prestigious award, which is sponsored by BOMA. A five-star hotel with approximately 335 guest rooms has acquired the lower twelve floors of the building.

Continental Towers recently won The 2008-2009 TOBY for the five-state North Central Region from BOMA. This is the third time in the last five years that Continental Towers has won this prestigious award for the five-state North Central Region. In addition, the Complex has won the TOBY Award for the Chicago Suburban market four times in the last five years. The Complex is an Energy Star rated 910,000 square foot office complex encompassing three 12-story towers inter-connected by pedways to a multi-level retail concourse known for its many amenities.

About BOMA

The Building Owners and Managers Association (BOMA) International is an international federation of more than 100 local associations and affiliated organizations. Founded in 1907, its 18,000-plus members own or manage more than 9 billion square feet of commercial properties. BOMA International's mission is to enhance the human, intellectual and physical assets of the commercial real estate industry through advocacy, education, research, standards and information. For more information, visit [ www.boma.org ].

Certain statements contained in this press release may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 that reflect management's current views with respect to future events and financial performance. The words, "believes," "expects," "anticipates," "estimates," and similar words or expressions are generally intended to identify forward-looking statements. Actual results may differ materially from those expected because of various risks and uncertainties, including, but not limited to, changes in general economic conditions as well as adverse changes in real estate markets.Other risks and uncertainties are described under "Risk Factors" in our Annual Report on Form 10-K and subsequent Company filings with the Securities and Exchange Commission.