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Hudson Pacific, Macerich to Redevelop LA’s Westside Pavilion as Creative Office
A pair of SoCal commercial real estate companies are teaming up to convert Los Angeles’ Westside Pavilion into creative office. The joint venture plans to transform 500,000 square feet of retail space into a modern office environment, while retaining roughly 100,000 square feet of existing entertainment retail space.
Total project costs, including the asset value at contribution, are expected to be in the $425-$475 million range. The JV will be held 75% by Hudson Pacific, and 25% by Macerich.
Hudson Pacific’s Victor Coleman says, “Westside Pavilion is a perfect opportunity for us to reposition a marquee asset in a premier location—this is what we do best. The project is poised to capture the strong demand from tenants for creative office space on the west side of Los Angeles.”
Construction is expected to be completed by mid-2021 at the property, located at 10800 West Pico Blvd.
For comments, questions or concerns, please contact Dennis Kaiser
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