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The Real Deal Los Angeles

Eldridge Industries plans a facelift for its pricey Beverly Hills office complex

The three-story office building was built in the 1980s by the late architect Gin Wong
November 20, 2017 05:00PM

Rendering of 100 North Crescent Drive (Gensler)

UPDATED, Monday, November 27, 2017, 11:40 a.m.: A Greenwich, Connecticut firm has a new vision for its dilapidated office building at 100 North Crescent Drive.

Eldridge Industries, the parent company of Cain International, filed plans to expand the three-story, 106,000-square-foot office building into a taller, five-story structure with modern renovations, Urbanize reported. Updates to the property would build off the work of late architect Gin Wong, who built the site in the late 1980s.

In addition to an extra 50,000 square feet of office space, the owner plans to build a new ground-floor restaurant, update the existing 100-seat screening room and improve the adjacent Crescent Drive Mini Park, according to documents published by the City of Beverly Hills. The overall height of the complex would rise from 43 to 72 feet.

The Gensler-designed renderings portray floor-to-ceiling glass walls surrounding a curvilinear complex. A glass-and-steel-clad rotunda featuring a spiral staircase would replace the black structure currently in its place.

If approved, project construction would begin in 2019 and occur over about two years.

Cain International, which was established as Cain Hoy Enterprises in 2014, acquired the site in 2015 for $130 million from New York-based Clarion Partners, property records show. At the time, the sale — averaging out to $1,100 per square foot — marked the highest per-square-foot price for an office asset in the area.

The proposed remodel is evocative of another Gensler-designed project in the Golden Triangle. Just a few blocks away, four contiguous parcels on Canon Drive are listed for a whopping $100 million. Renderings portray a 57,000-square-foot mixed-use structure on a property with about 200 square feet of frontage. [Urbanize] – Natalie Hoberman