Connect Media: CRE – California Commercial Real Estate News
October 8, 2020
Union Bank Plaza, a 40-story, 701,888-square-foot office tower and retail plaza in DTLA, recently became the first skyscraper in Los Angeles to receive historical landmark designation. The property is also undergoing a $20-million renovation while preserving its historic charm. The iconic 1967-built asset at 445 S. Figueroa St. is owned by KBS Real Estate Investment Trust II.
KBS’ Giovanni (Gio) Cordoves says, “The repositioning project provided the opportunity for Union Bank Plaza ‘to be seen in a new light’ while still maintaining the historic characteristics that make it so unique. We made several upgrades to the property that are aligned with the needs of today’s tenants and completely preserved the historic original shell of the building as well as the outdoor plaza.”
KBS completed a variety of interior and exterior renovations including the conference center and lobby. Next, KBS will entirely reimagine the two-story retail level into a spacious, modern outdoor seating area with fire pits, which is scheduled to be completed in April 2021.
This content was originally published here.