Skanska invests $65 million in first LA development with four-story Beverley Hills project

Skanska says it plans to develop and build a four-story, 4,270 sq. m. office building with roof top terrace and four below grade parking levels Beverly Hills. The project will target LEED Platinum certification.

The Swedish-headquartered contractor and developer said in an Oct. 29 statement that it expects to begin construction in the end of the month and the project is scheduled to be completed in third quarter of 2022.

Since 2009, Skanska USA Commercial Development has invested more than $2 billion in office and multi-family projects, and has developed office headquarters for tenants including, Waste Management Inc., Bank of America, Brooks Sports, PricewaterhouseCoopers and Tommy Bahama, the company says.

The site has been envisaged for development for some time. A report in Urbanize Los Angeles from 2017 said Architect Neil Denari was designing the project through his firm NMDA,noting that scale of development s limited by a 45-foot height restriction along this stretch of Wilshire Boulevard. HLW International is also associated with the project’s design.

The earlier posting attributed the project applicant as Taslimi Construction. Skanska acquired the property for $18.2 million in November 2019 from Santa Monica-based Taslimi, the Commercial Observer has reported, citing property records. Global Construction Review said Clare De Briere, Skanska’s executive vice-president for commercial development in LA, is in charge of the project.