Los Angeles-based Skanska has launched a new commercial development platform and has named Clare De Briere as EVP to lead the new group. As part of the launch, Skanska has also acquired its first development site at 9000 Wilshire in Beverly Hills. It plans to build a three-story, 40,000-square-foot office building at the site.
"We're seeing a huge investment in mass transit, very minimal new office stock available across the market and a strong and diverse economy," De Briere tells GlobeSt.com about the firm's decision to launch the new department. "This created a perfect opportunity for Skanska to establish a commercial development practice in the LA market and acquire our first project in Beverly Hills."
For its first project under the new commercial development platform, Skanska has partnered with architect Neil M. Denari in collaboration with HLW to design the LEED-certified office space. "9000 Wilshire is fully entitled and designed by an incredibly talented architect. We wanted to start with a great jewel box of a building," adds De Briere. "Incredible location; its two blocks away from two future Metro stations of the Purple Line Extension, which Skanska is also constructing. It is consistent with our plan and intent to follow the transit and to build around transit."
It makes sense that Skanska chose to launch the project in Los Angeles—its headquarter location—and the market for its first development. "Los Angeles is a world-class city and Skanska already has successful civil and building verticals in the market. It only made sense that commercial development would follow," says De Briere. "As a leading green builder, Skanska focuses on sustainability in addition to building buildings that last for centuries; doing things the right way; improving quality of life for communities; creating better places for our tenants; doing things differently. We see a strong alignment here with shared values."
Skanska has already hit the ground running, and it plans to focus on office projects while it builds out the department. "Skanska develops office, multi-family housing and mixed-use developments. In the near term, our initial projects developments will be office," says De Briere. "Our goal in this market is to build great projects, establish a talented team and to improve the quality of life for communities across Los Angeles."
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 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.
Kelsi Maree Borland
