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5/21/15
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Beijing-based Oceanwide Real Estate Group has named Kennedy Wilson as the exclusive leasing agent for 166.6k sf of retail and restaurant space at Oceanwide Plaza, a $1 bil mixed-use complex currently under construction in Downtown Los Angeles. Located on a 4.6-acre parcel between 11th and 12th Streets on Figueroa, the site faces Staples Center and will include a 183-room, five-star hotel, 504 luxury condominiums, and an open-air retail galleria.
Designed by RTKL, the project broke ground on March 19th. RTKL’s design of the two-story retail space centers on the creation of a strong pedestrian experience complete with an open-air feel, and the installation of major public art pieces at key junctions throughout the galleria. The targeted tenant mix is designed to not only meet the needs of those visiting the area –with approachable luxury and specialty stores – but will also include a wide variety of eateries and convenience uses.
“Oceanwide Plaza is a transformative mixed-use project at the center of the entertainment district in Downtown LA that will be an exciting gathering place for visitors, residents and day time workers.” said Ed Sachse, executive managing director of Kennedy Wilson Brokerage Group and lead of the retail leasing team which includes Lee Shapiro, executive vice president, Justin Weiss, senior associate, Melanie Lee, associate, and Suzy Foster, project manager. “The project is on a high profile corner in DTLA, reflecting the enormous energy of Staples Center, LA Live and the LA Convention Center which together host over 300 events and 10 million visitors a year. We believe Oceanwide Plaza will elevate the approach to retail and restaurant services downtown, taking the customer experience to the next level. The retail will be vibrant, lively and active with entertainment, shopping, and a mix of casual and fine dining. Oceanwide Plaza will have a strong local identity as well as global appeal.”
Oceanwide Plaza is situated adjacent to Metro’s Pico Station at Flower and 12th Streets, allowing visitors to easily travel from the Westside and mid-Wilshire to the complex as an end-destination shopping area and complement to Staples Center and L.A. Live. The project is slated for completion in late 2018.
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