To date, just half of the improvement plan has been completed. This includes extensive renovation of the lobby, new street signage, and significant improvements in the building's parking efficiency and safety features, according to Frank Kozak, VP of Albert B. Ashforth Inc., the owner's management services division. The lion's share of the investment, $1.5 million, was devoted to the two-story lobby where black marble contrasts with white granite, and glass art by Rhode Island artist Paul Housberg was installed.
A new means of egress was added to the building's six-level, 385-car garage, requiring all visitors and tenants to pass a main security desk before entering the upper-floor elevators. Property surveillance equipment and automated parking technology were also added. The remaining elements of the improvement plan are renovation of the outdoor plaza, additional restoration of the building façade, and installation of a larger power generator.
The building was completed in 1974. According to published reports, the Ashforth partnership paid approximately $109 million for the 981,743-sf asset.
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to asset-and-logo-licensing@alm.com. For more inforrmation visit Asset & Logo Licensing.
