In December of 2005, the Company acquired 5900 Wilshire, an office building located in the heart of the Miracle Mile district of Los Angeles. Built in 1970 and designed by William Pereira & Associates, 5900 Wilshire is a 30-story, 491,000 square foot structure that enjoys unobstructed 360 degree views of the Los Angeles basin. The Company has competed at $34 million total renovation to the building which included the replacement and upgrading of the buildingâ€™s entire infrastructure, a new roof, a new HVAC system, the replacement of 16 elevators along with electrical upgrades and new emergency and security systems, bringing the building to a near-new condition. In addition, the Johnson Fain designed reconceived and expanded lobby, redesigned and renovated common areas, the new â€śgreenâ€ť standardized tenant improvements, the development of an on-site white tablecloth restaurant, and new retail pavilion positioned designed by Greg Lynn as a companion to the new Renzo Piano designed Broad Contemporary Art building, have attracted such renowned tenants as Variety, Edelman Communications, Think Passenger and the New York Times bringing the building to an over 90% occupancy.
The Companyâ€™s institutional partner in 5900 Wilshire is Prudential Real Estate Investors.go to the 5900 WILSHIRE website >>