The Real Deal Los Angeles

CIM plans facelift for former Farmers Insurance headquarters

Three-story building with 144k sf set for renovation
November 16, 2018 10:30AM

CIM filed plans to renovate one of the buildings at 4750 Wilshire Boulevard

The former Farmers Insurance headquarters in Mid-Wilshire is set for a makeover.

CIM Group, an L.A.-based developer and commercial landlord, plans to enhance one of the three buildings on a 10-acre campus, UrbanizeLA reported. Upgrades are set to begin in early 2019, and be completed in April.

The three-story building at 4750 W. Wilshire Blvd. was built in the 1980s and includes 144,300 square feet of rentable space. Plans call for a new entry area, new valet court, exterior enhancements, and installations on the roof deck and patio.

Situated between Miracle Mile and Koreatown, the four-block campus is surrounded by residential districts, such as Hancock Park directly to the north. CIM Group purchased the campus in 2014 after Farmers announced its move to the Warner Center near Woodland Hills.

The office will compete with the one-million-square-foot Wilshire Courtyard complex at 5700 Wilshire Blvd., which was listed for sale in September after E!, the entertainment channel, terminated its 400,000-square-foot lease, and then Coffee Bean & Tea Leaf left its headquarters there in October.

Last month, CIM Group also filed plans for two of the five biggest projects in the county, including a 154-unit mixed-use project in West L.A., and an eight-story multimedia production and office building in Hollywood.

The firm also joined Abu Dhabi Investment Authority in listing the 460,000-square-foot Hollywood & Highland Center this month. [Urbanize] – Gregory Cornfield