Skanska Sells LA-Area Office Asset for $71M

9000 Wilshire Blvd. in Beverly Hills, Calif., marks the Skanska’s first project in the Los Angeles region. Image courtesy of Skanska

Skanska has sold an office building in Beverly Hills, Calif., for approximately $71 million. A Europe-based company acquired the asset, 9000 Wilshire.

Standing four stories tall, the office building is 50,148 square feet, according to CommercialEdge data. It includes a rooftop terrace and four subgrade parking levels.

Skanska initially broke ground on 9000 Wilshire in 2020. It was the company’s first project in the Los Angeles area.

Completed in 2023, the office building is set to become the first new LEED Platinum office asset in Beverly Hills. It has attained a WiredScore Platinum certification and a two-star Fitwell certification. The same data shows that tenants of 9000 Wilshire include Farmers Insurance and Lazy Daisy Café.

READ ALSO: How Lifestyle Offices Are Redefining Work-Life Balance

Downtown Los Angeles is approximately 11 miles from the office asset with dining, retail and entertainment options. Tenants have access to a number of retailers in Beverly Hills including a Whole Foods Market, The Cheesecake Factory, Il Pastaio and Saks Fifth Avenue. The notable street, Rodeo Drive, is less than a mile away.

Skanska’s busy year

Throughout the year, Skanska has been highly active throughout many markets nationwide. Earlier in the summer, the company signed a deal to develop an approximately 398,000-square-foot research center in Boston. The mixed-use project is worth $311 million and is anticipated to complete in September 2026.

Skanska also topped out an office tower in Bellevue, Wash., this year. The Class A office space totals 541,00 square feet and is slated to complete in March of 2024. It stands 25 stories tall and will include a standalone 1,000-square-foot mass timber retail pavilion.

Leave a Reply

Your email address will not be published. Required fields are marked *