Sears, Roebuck & Co.'s building subsidiary, Homart Development Co., will celebrate completion of its first office building in Los Angeles, Wilshire Landmark in Brentwood, with a grand opening Wednesday.
The 24-story, $85-million building is at 11755 Wilshire Blvd., at Granville Avenue, west of the San Diego Freeway.
Designed by the Nadel Partnership, Santa Monica, the Wilshire Landmark features an exterior treatment of Swedish granite and utilizes a notched front facade that provides 12 corner offices on each floor.
The opening includes a display of works by five Los Angeles artists who have been commissioned to create art for the lobby--Carlos Almaraz, Tony Berlant, James Doolin, Jim Laurence and Terry Schoonhoven.
Christopher Stirling, Homart's senior development director in charge of the Landmark, said the building is expected to appeal to advertising agencies, attorneys, computer services and other firms that find the accessibility to Beverly Hills and the Westside desirable.
Homart reports that the building is 23% pre-leased.
According to Christopher Leinberger, managing partner of Robert Charles Lesser & Co., "This figure is modest, considering the present market realities.
"However, as I understand it, the building is targeted toward small space users, so 23% is not too surprising, since small space users do not pre-lease space the way that large users do."
Peter Denniston, first vice president of Homart's western region, noted that "one thread of continuity of the westward growth through the years, has been the prestige of a Wilshire Boulevard address, attracting major national corporations, as well as international business links to Southern California."