As the office market continues to experience high vacancy rates and difficulties leasing, some companies are betting on renovations to lure new tenants. Case in point: The Swig Co. and Intercontinental Real Estate Corp. recently signed 79,000 square feet of leases at their Miracle Mile office space, known as 6300 Wilshire.
The building, which was constructed in the 1980s, underwent a major renovation designed by Culver City-based Wolcott Architecture to modernize the space, the majority of which was completed in 2018.
Subsequently, the building achieved LEED Gold status in December 2021.
It now has an activated main lobby with improved wayfinding, artwork and comfortable seating, as well as a fitness center with a rock-climbing wall, three new conference centers, a tenant lounge and event center, an outdoor patio with a fire pit and extra communal work areas.
According to The Swig Co. and Intercontinental, peak interest in their building likely stems from that renovation.
“We feel that this leasing activity and ongoing tenant interest in 6300 Wilshire validates our decision to renovate and reenergize the building in order to position it for greater success and appeal to tenants interested in high-quality office space in the Miracle Mile market,” Cory Kristoff, executive vice president of asset management and director of leasing at The Swig Co., said in a statement.
As suggested by its name, 6300 Wilshire, located at 6300 Wilshire Blvd., is a 21-story, class A office tower located in the Carthay region of West Los Angeles’ Miracle Mile.
The new leases leave only the top two floors with significant space availabilities.