SANTA MONICA, CA-Blackstone Group affiliate Equity Office has launched a $25 million capital improvement program throughout its 11-million-sf portfolio in 63 buildings from Los Angeles to San Diego. The company says that its reinvestment efforts via the improvements are designed to attract and retain key tenants and also to keep its portfolio at the top of the commercial office market.

Frank Campbell, market managing director for Equity Office, notes that the upgrade efforts have already paid off in terms of leasing: “In San Diego, the renovations to 701 B St. helped close a couple of big deals, including a new 54,000-sf lease with Alliant Insurance and a large renewal of an international insurance company,” Campbell says.

Other capital improvements in the portfolio include interior renovations that are now complete at 6701 Center Dr. and 5670 Wilshire Blvd. in Los Angeles. Renovations are commencing at 233 Wilshire Blvd. in Santa Monica and Sorrento Towers at 5375 Mira Sorrento Place in San Diego, with both scheduled for completion in November.

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