New features are in the works for one of the oldest office towers in Downtown Los Angeles.
KBS, owners of Union Bank Plaza, will begin construction this month on a $20-million renovation that will encompass the building's private suites and common spaces.
The project, designed by HLW International, will bring new outdoor seating and fire pits to the property’s open-air retail center at 5th and Figueroa Streets. Additionally, plans call for a new collection of spec suites built for "live-work-play" tenants. Of the eight suites, two have been pre-leased.
Union Bank Plaza, which spans a full city block adjacent to the Harbor Freeway, was the tallest building in Los Angeles at the times of its completion in 1968 - though it was surpassed in height by the nearby 611 Place just one year later. The property features over 700,000 square feet of office space, in addition to street-fronting restaurant space and a two-acre plaza.
Swinerton Builders is serving as the project’s general contractor, with demolition work beginning this month. Completion of the renovations is anticipated by early 2020.
Justin Collins, Pete Collins, and Kelli Snyder from Cushman & Wakefield are the office leasing agents for Union Bank Plaza.
See the property's official website for more information.
One block north of Union Bank Plaza, ground-up projects are slated for two other landmark properties. Last year, Shenzhen New World Group announced plans to construct a 77-story tower adjacent to the 1980s L.A. Grand Hotel at 333 S. Figueroa Street. Directly across Figueroa, developer Jamison Services, Inc. intends to raze a portion of the fortress-like World Trade Center to construct a 41-story apartment building.
- Downtown (Urbanize LA)