The New York Times reports on the CIM Group's plans to fix up the black glass building near the corner of Highland and Franklin in Hollywood. What starts as a story about new office space coming on-line in Hollywood ends with a big wet smooch to CIM for helping to revive the neighborhood with its super wonderful loft and retail developments.
CIM's approach is "quite visionary," said Helmi Hisserich, the Hollywood regional administrator for the Los Angeles Community Redevelopment Agency, which has jurisdiction over much of Hollywood Boulevard. The firm, she adds, "really views Hollywood as an entire district." "They are not tackling it one building at a time, but one big market segment at a time," she said.
The building at 1800 Highland is currently under cloth wraps at the moment, but plans are to turn the largely vacant building into 80,000 square feet of Class A office space. CIM says it has received interest from potential tenants for the new building already.
· What's Missing From Hollywood? Office Space [New York Times]