By Kelsi Maree Borland | GlobeSt.com
LOS ANGELES—Rising Realty Partners has rebranded Figueroa Courtyard as The Park DTLA, the downtown market’s first office and tech campus. To make the transition, Rising will renovate the 270,000-square-foot campus to install technology upgrades, and has already installed a campus-wide fiber backbone for high-speed Internet that will allow tenants to work from anywhere on the campus on a private Wi-Fi network. The park is currently 72% occupied, but located in a great downtown neighborhood adjacent to Bunker Hill and the financial district. To find out about the inspiration behind the project, we sat down with Marc Gittleman, SVP Third Party Management at Rising, for an interview.
GlobeSt.com: Why have you decided to rebrand the Figueroa Courtyard?
Marc Gittleman: Today's idea of 'work' is vastly different than what it was 15+ years ago. We saw a great opportunity to do something completely unique at The Park DTLA as it's downtown's only true office park. We wanted to accentuate its unique workspace environment, giving tenants and guests the ability to enjoy working indoors or outdoors while having an amazing view of DTLA's skyline.
GlobeSt.com: What is your vision for the space, and what is your goal in rebranding the space?
Gittleman: Our vision is to implement what we call the Rising Impact Strategy which consists of making an impact on 3 different levels: social, environmental, technological. First, we believe that making a social impact is important not only to promote our own property, but promoting the renaissance of downtown Los Angeles. Our goal is to create a space that allows for members of the community to gather, watch an outdoor movie, enjoy a food-truck catered dinner, host an event of their own, and share their memories with us via social media. Second, we want to make an environmental impact. The Park DTLA features outdoor solar charging stations and outdoor workspaces and, this year, we plan to convert the grass areas to artificial grass to reduce water usage. Lastly, we have upgraded the technology considerably. With 5x5 Telecom, we are able to connect any tenant on any speed fiber up to 1GB in 24-48 hours, and provide them their own secure Wi-Fi network, which they can access both inside their office and in the outdoor workspaces.
GlobeSt.com: Why is tech an important part of the rebranding and important to the modern office space?
Gittleman: Internet and connectivity are utilities that have typically been artificially maintained with lack of competition and lack of end-user expertise. 5x5 Telecom brings both. We pull back the curtain to show customers what can be done - like being on their own Wi-Fi network throughout the property, and how low costs can actually be. Wilcon is crucial as 5x5 partners with Wilcon for connectivity to One Wilshire, the center of the world as far as the Internet on the West Coast and Asia/Pacific connectivity goes.
GlobeSt.com: How will this property be different than other office properties in DTLA?
Gittleman: Where else can you sit in the grass, work on your office network with your dog at your side, and charge your phone via solar-powered charging stations? Additionally, we are close to transit, open to the community utilizing the open space, and we have quick access to every major highway downtown. Did I mention you can sit in the grass all day and get work done?