Skanska enters the commercial development market in Los Angeles, USA, first project launched in Beverly Hills
Skanska enters the commercial development market in Los Angeles with the acquisition of a site in Beverly Hills dedicated to the office project 9000 Wilshere. Los Angeles becomes Skanska’s fifth commercial development market in the U.S. alongside Boston, Houston, Seattle and Washington, D.C.
Located in the heart of one of the most desired submarkets across the U.S., 9000 Wilshire is situated near the “Golden Triangle” of Beverly Hills, a global fashion capital and home to luxury retailers and some of Los Angeles’ most exclusive restaurants, hotels and bars. Once complete, 9000 Wilshire will be a three-story, 3,700-square-meter office building with open, innovative indoor and outdoor spaces including a 1,000-square-meter rooftop deck and lounge. The building is designed for LEED Gold certification, with the goal to achieve LEED Platinum.
Beverly Hills will be served by the Metro’s extension of the subway system that will link Downtown LA to Beverly Hills, Century City, Westwood and Brentwood. Two future Metro stations of the Purple Line Extension, which Skanska is also constructing, will be in walking distance to the site upon its completion in 2023.
Since 2009, Skanska has invested more than USD 2 billion, about SEK 18 billion, in U.S. office and multi-family projects, and has developed office headquarters for tenants including, Dropbox, Qualtrics, Mullen Lowe, Waste Management Inc., Bank of America, Brooks Sports, PricewaterhouseCoopers and Tommy Bahama.
Skanska is one of the leading construction and development companies in USA, specializing in building construction, civil infrastructure and developing commercial properties in select U.S. markets. Skanska USA had sales of SEK 67 billion and about 9,000 employees in its operations in 2018.