By Kelsi Maree Borland | GlobeSt.com
LOS ANGELES—Rising Realty Partners has rebranded the historic office property One Bunker Hill as CalEdison DTLA. The rebrand comes at the peak of firm’s redevelopment of the historic property and as a preamble to new tenant announcements expected in the coming weeks. Rising Realty has partnered with Lionstone and Industry Partners for the to transform the 14-story, 277,000-square-foot office building into a creative office property.
“The roll out of the rebrand really coincides with a lot of our leasing efforts through the first year of ownership,” Tyson Strutzenberg, COO at Rising Realty Partners, tells GlobeSt.com. “We think that our tenants really reinforce the preference that we see in the market for being in unique and historical places. Part of our investment thesis with any of the investments that we make downtown is that we are trying to curate a tenant experience for the folks that are in the community as well as the tenants that are upstairs.”
Rising purchased building last year, and has already made major improvements, upgrading the technology in the building, renovating common areas and, as of last December, achieving LEED Platinum status. “We think that we are creating a really unique tenant experience and something that is really different than walking into a secured lobby,” adds Strutzenberg. “This is an experience that tenants want, and that has been validated by our leasing traction.” Rising has created communal areas throughout the building and has selected restaurant tenants to serve the building, but the biggest achievement may be the lobby, which has new security desks, furniture and a barista station as well as complimentary wireless internet. “That has activated the lobby for our existing tenants and the people passing through,” says Strutzenberg. “It is a place now that you can actually come down and do work.”
While Rising is committed to creating unique office environments that serve a creative tenant roster, this project follows a tried and trusted redevelopment strategy, which focuses on environmental impact, social and wellness and technology. “We have already installed the new fiber backbone in the building, so we can get tenants up and running in a day,” says Strutzenberg, referring to the company’s in-house telecom service 5×5 Telecom. “On the social aspect, we have curated the tenant mix in the retail spaces because that has a big impact on the community. On the environmental side, we are somewhat limited in older buildings, but we did achieve LEED Platinum status, and that is really a testament to our commitment on the environmental side.”
Rising Realty hasn’t released information about the new tenants in the building, but we do know the roster includes a full-floor tenant and a restaurant. They should make an official announcement soon. Check back for more details.