Gateway Tower Adds Tenants After Renovation
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BEVERLY HILLS, CA-GlobeSt.com has learned exclusively that Beverly Hills Gateway Tower, a 132,000-square-foot office building at 9777 Wilshire Blvd. here, has added two major street-level tenants after undergoing a $4-million renovation. Owned and managed by Beverly Hills Gateway LP, an affiliate of Maxxam Enterprises, the tower boasts a ground level that is now 100% occupied by financial institutions including TD Ameritrade, Chase Bank and Manufacturers Bank.
Among the completed improvements to the building—newly renamed TD Ameritrade Tower—are a complete redesign and significant expansion of the main lobby area, including reconfiguring the glass façade to create a relaxing indoor-outdoor atmosphere, the addition of a fountain illuminated by LED lighting, new seating areas and planters. The owner is currently upgrading the limited number of remaining available spaces including a 16,000-square-foot suite and several smaller spaces, all of which are being converted into high-end creative offices, available for immediate leasing.
Chase Bank recently signed a 10-year lease for at 3,500 square feet at the tower, with options for extending the lease, and plans to open a new retail location on the building’s prime corner at the intersection of Wilshire and Santa Monica blvds. TD Ameritrade also recently opened its new Beverly Hills branch at the tower, signing a 10-year lease for 7,000 square feet on the ground floor, with extension options.
According to Jay Luchs, EVP of CBRE in Los Angeles, which represented the owner in both transactions, “These prestigious financial institutions have recognized a great opportunity to occupy highly visible, fully upgraded ground-floor spaces in one of Beverly Hills’ most prestigious office tower.”
As GlobeSt.com previously reported, in October 2007 Maxxam Enterprises arranged $162 million in refinancing for three of the privately held company’s premier assets. The refinancing package included $47 million for the Beverly Hills Gateway Tower.
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