Frank Campbell, market managing director for Equity Office,notes that the upgrade efforts have already paid off in terms ofleasing: "In San Diego, the renovations to 701 B St. helped close acouple of big deals, including a new 54,000-sf lease with AlliantInsurance and a large renewal of an international insurancecompany," Campbell says.

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

In addition to specific interior renovations, Equity Office hasspent $15.5 million throughout its Southern California portfolio.The work has included upgrading common areas and tenant spaceincluding lobby, corridors, and restrooms; improving buildingaesthetics and spec space build-out.

Continue Reading for Free

Register and gain access to:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.