In response to the pandemic, developer GPI has decided to move away from retail investment entirely. As part of the new investment strategy, GPI will revise current developments, including the Westside Pavilion project, a former shopping center in Los Angeles.
GPI is working with architecture firm HLW to reimagine the property into a creative office campus. The original vision include ground floor retail space, but following the pandemic, GPI and HLW have decided to eschew retail in favor of creating ground floor media and tech office suites.
Responding directly to the consequences of the pandemic, GPI pivoted its leasing strategy to focus on creative office and media/ technology tenants instead of street facing ground floor retail," Sejal Sonani, a principal at HLW Los Angeles, tells GlobeSt.com. "As we continue to see an increased demand for healthy buildings, this project has transformed into an interesting case study for what tenants will expect from workplaces in the future—especially in Los Angeles. We completely upgraded previously designed HVAC and MEP systems to accommodate enhanced health and safety measures."
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.