LOS ANGELES—The Georgetown Co. and the Hearst Corp.  have joined forces to transform the historic 1914 Herald Examiner Building into a creative office, retail and restaurant space. The property is located at the intersection of the Broadway Corridor and South Park in Downtown Los Angeles, and is considered a landmark in the downtown market. The joint venture did not reveal the capital investment to renovate the building.

“We plan on completely restoring the building and taking advantage of its unique architecture to create the premiere Creative Office building in Los Angeles,” Michael Fischer, VP of the Georgetown Co., tells GlobeSt.com. “Additionally, at street level we will have restaurants with outdoor seating, re-invigorating the street. The restaurants will be in architecturally dynamic spaces with soaring 24-foot high ceilings and beautiful double height arched windows facing Broadway as well as 11th Street.” In addition to adding restaurant space to the ground floor, plans also include re-energizing the building's iconic two-story lobby.

The property was built in 1914 by Julia Morgan, the architect behind the Hearst Castle. The Hearst family has owned the property as part of its portfolio, and, thanks in part to the ongoing renaissance in the Downtown market, has decided to restore the property. “We are very pleased that Hearst has decided to retain an interest in the property,” adds Fischer. “It was important to the Hearst family to restore and revive this building in a manner that would be respectful of its architectural and historical importance. We are happy that they trust Georgetown to create something great here and to start a new chapter for the Herald Examiner building; and we are excited to have them as a partner going forward.”

JLL broker Carl Muhlstein will lead the leasing efforts for the property. The South Park area, of course, has undergone a massive transformation with a plethora of multifamily developments as well as office and hotel properties springing up—which recently led to the launch of a new BID. This property will be right at home in the newly imagined and reinvigorated neighborhood.

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Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.