The 24-story Wilshire Landmark in West Los Angeles can look forward to a $100-million sibling.
A companion building, the 17-story Landmark II will be built directly across the street at 11766 Wilshire Blvd. Ground breaking is scheduled Wednesday. The Wilshire Landmark was opened in September, 1986.
Both buildings are developments of Homart Development Co., part of the Sears financial network.
Christopher T. Stirling, senior development director of both Landmarks, said Homart's objective is to architecturally unify both buildings so they can achieve a marketing identity under the name Landmark Center.
"With the Wilshire Landmark more than 70% leased, this is the right time to start Landmark II, which will be ready for occupancy in mid-1989," said Peter Denniston, senior vice president of Homart's office and multi-use developments in the western United States.
Designed by the Nadel Partnership Inc., Los Angeles, Landmark II is being finished in the same imported Swedish polished Napoleon-red granite as the Wilshire Landmark and will face its companion building.
The almost 400,000-square-foot Landmark II features a curved facade, faceted on three sides to increase the number of views. The exterior design incorporates continuous ribbons of gray reflective glass, inset accents of flamed unpolished granite, beveled corners and medallions of contrasting granite above the entrance.
The building will be capped by a penthouse with exterior terraces and skylights.
A 35,000-square-foot Vons Pavilions market, the first on the Westside, will be located in a separate building on the site. The market will also be clad in matching granite.
During construction, Homart and Vons are operating a free shuttle bus service to the Vons market in the Westside Pavilion at Pico and Westwood Blvds.
Landmark II will have 3 1/2 floors of subterranean parking. Each of the 17 floors will contain about 22,500 square feet of rentable space. The site includes separate surface parking for ground-floor retailers and the market.
Homart is also joint venturing with Xerox Realty Corp., a multiphased 850,000-square-foot office complex, Xerox Center, in El Segundo.
Founded in 1959 to develop shopping malls for Sears, Homart has completed more than 70 million square feet of commercial space that includes 67 malls. Headquartered in Chicago, Homart operates as the major development arm of the Coldwell Banker Real Estate Group.
Since the early 1980s, Homart has diversified into office and multi-use developments and has been active in Atlanta, Chicago, Dallas, Denver, Houston, San Diego and South San Francisco.