Originally constructed in 1962, this 300,000 square foot, 45% occupied, deteriorating office property in downtown Los Angeles was renovated and repositioned in the market.
Renovation was performed with tenants in place. A team comprised of architects, engineers, and contractors was engaged to develop and implement total property renovation including replacing the building exterior façade, expanded the window lines and updated all major building systems and common areas. The ground floor lobby was reoriented from an East entrance of Flower Street to a prestigious Wilshire address. The $18M renovation was completed in 20 months, coupled with an aggressive tenant retention program and lease up, resulted asset stabilization in 36 months.