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KBS Real Estate Investment Trust II is planning a major overhaul of the Union Bank Plaza building in Downtown Los Angeles. The owner plans to invest $20 million into the property to modernize and update facilities and amenities and launch a spec suit program at the property. The property is currently an icon. At 701,888 square feet, it features a two-level retail center; a two-acre landscaped outdoor plaza; and a four-level parking structure in the core of DTLA.

“Downtown Los Angeles is in the midst of a renaissance, attracting a variety of blue-chip companies from across the globe,” Tim Helgeson, SVP and asset manager at KBS, tells GlobeSt.com. “These office tenants demand exceptionally high-quality workspaces, which are integral in attracting and retaining top talent.”

Kelsi Maree Borland

Kelsi Borland is a freelance writer and editor living whose work has appeared in such publications as Travel + Leisure, Angeleno and Riviera Orange County.

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