Among the development projects in its pipeline is a 12-acre West L.A. property known as the Olympic-Bundy campus that it bought in September for $89 million. The property comprises four buildings totaling about 233,600 square feet, two-thirds of which is leased through May to online advertising technology company Rubicon Project. Hudson is planning to renovate the rest of the property into Class A creative office by next year.
No one from the company was available to comment.
Panera Bread Co. bakery and café has begun renovations at the former headquarters of the Beverly Hills Chamber of Commerce and Convention and Visitors Bureau, its newest Beverly Hills location.
The St. Louis bakery company signed a 10-year lease last year with the city for nearly all of the 7,500-square-foot property at 239 S. Beverly Drive. The lease was extended by one year last month. The rental rate is about $24,000 a month. (AT&T leases a 182-square-foot space for a communications facility on the second floor.)
Panera plans to open the location in about six months after completing the renovations, which include removing asbestos and lead hazards, and adding a kitchen. The city contributed $400,560 to renovation costs.
The chamber and bureau both moved to newer offices, which also include a visitors center, at 9400 S. Santa Monica Blvd. last year.
The city announced it planned to build a new parking structure at the Beverly Drive site but abandoned those plans for the next several years after a study showed it would have to acquire adjacent properties to do so.
Staff reporter Jacquelyn Ryan can be reached at email@example.com or (323) 549-5225, ext. 228.
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