12301 WILSHIRE, Los Angeles

TPMC acquired 12301 Wilshire Boulevard (formerly known as Wilshire Pacific Plaza) in September 2008.  Originally built in 1976, 12301 Wilshire Boulevard is a six-story Class B office building containing 107,342 square feet.  The “U-Shape” building, situated on 0.82 acres of land, is located in the West Los Angeles Submarket on the Northwest Corner of Wilshire Boulevard and Wellesley Avenue.  A combination of surface and subterranean parking accounts for 215 parking spaces on the property.

12301 Wilshire had grown tired through the years and was in need of a major redevelopment.  With 28% of the building’s leases scheduled to expire in 2009, TPMC immediately saw the opportunity to purchase and redevelop Wilshire Pacific Plaza. 

TPMC has completed a $5 million redevelopment to the building.  The upgrades include a new exterior façade on the ground floor, an overhaul of the existing elevators complete with new cabs, and a new lobby, new restrooms and redeveloped common areas.  As the redevelopment creates new energy for the asset, 12301 Wilshire will find its niche in the market by being in the upper echelon of low-cost providers for Class B office space in West LA.  With its new status, 12301 Wilshire Boulevard will be the building of choice for these tenants.