A $20 million overhaul of Downtown’s Union Bank Plaza is scheduled to begin next month.
Property owner KBS Real Estate Investments said that the first round of demolition work in the 701,888-square-foot office tower will start on Aug. 18, with completion scheduled for the first quarter of 2020.
Renovations to the 40-story edifice at 445 S. Figueroa St., which opened in 1968, will include a new lobby, a refreshed two-story retail area, an updated conference center and a modernized outdoor plaza. KBS is also building eight spec suites for modern businesses; two have been pre-leased.
“We are truly excited about embarking on an extraordinary renovation that speaks to the demands of today’s dynamic tenants who are looking for environmentally friendly, high-quality buildings with hotel-like amenities,” Rod Richerson, a KBS regional president for the Western United States, said in a prepared statement.
©Los Angeles Downtown News 2019