Skanska's New Commercial Development Practice in LA

Tue December 17, 2019 - West Edition #26
Skanska


Once complete, 9000 Wilshire will be a three-story, 40,000-sq.-ft. office building in the heart of one of the most desired submarkets across the country.
Once complete, 9000 Wilshire will be a three-story, 40,000-sq.-ft. office building in the heart of one of the most desired submarkets across the country.

Skanska announced the official launch of its commercial development division in Los Angeles, alongside its first acquisition in the market, a fully-entitled commercial development site in Beverly Hills. Located at the intersection of Wilshire Boulevard and Almont Drive, 9000 Wilshire, once complete, will be a three-story, 40,000-sq.-ft. office building in the heart of one of the most desired submarkets across the country.

"With demand for newly developed space in Beverly Hills far exceeding available space due to a limited supply of new buildings and a less than 10 percent vacancy rate, desire for newly constructed creative office space in the city is extremely high," said Clare De Briere, executive vice president of commercial development in Los Angeles. "Our ability to self-finance our projects and leverage our world-class construction team provides us the ability to bring a modern new office building with special, unique tenant space to the heart of Beverly Hills. It will provide an opportunity for a new tenant to find its home among global leaders like Google, Morgan Stanley, Live Nation and MGM Studios."

With open indoor and outdoor spaces, an 11,000-sq.-ft. rooftop deck and lounge, floor-to-ceiling glass windows wrapping the exterior and a second-floor terrace with a green wall, Los Angeles-based architect Neil M. Denari in collaboration with HLW has created a design mixing utility, style and modernism for Skanska's new Beverly Hills office building. In line with Skanska's commitment to be a sustainable developer and builder, 9000 Wilshire also is designed for LEED Gold Certification, with the goal to achieve LEED Platinum.

Along with the acquisition of 9000 Wilshire, Skanska is launching its first-ever commercial development practice in Los Angeles, which will be located at the U.S. Bank Tower where Skanska now occupies more 13,000-sq.-ft. of office space.