Search
 

How Building Branding Drives Massive Profits

MIAMI—This rebranding project yielded a $115 million profit.

By Jennifer LeClaire | Updated on November 18, 2015

MIAMI—”One City Block, A Thousand Stories.” So proclaims the tagline of the PacMutual, a 464,000-square-foot, three-building complex, that has become the hottest property in downtown Los Angeles.

But, Tom Silva, principal of Silva, tells Globest.com, it wasn’t that way three years ago. Rising Realty Partners acquired the property at 6th and Olive streets for $60 million in 2012. At the time, he explains, it was a class B office alternative for conventional white-collar firms with an occupancy of barely 50%.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.