SITUATION
The site consists of six buildings totaling over 1.15 million square feet of office and retail space surrounding a landscaped and manicured 3.5-acre park. The project’s superior location at the corner of Colorado and Cloverfield, in the heart of the vibrant Santa Monica commercial district and a mere six miles from LAX, make it one of the most sought-after locales in the region. However, shortly after the deal closed, Metro Goldwyn Meyer (MGM), at the time the largest tenant, relocated most of their offices leaving much of the complex vacant during a difficult economic period.

DEVELOPMENT
Tishman Speyer immediately set into motion a multi-million dollar renovation program in an effort to transform the property into an attractive environment for future tenants. From the installation of a state-of-the-art communications infrastructure, to the creation of three new public areas and expansion of existing entrances, to the restoration of outdoor fountains and artwork, every aspect of the property was improved. Now, superb offices, atriums and terraces are supplemented by an abundance of amenities including childcare and fitness centers, a retail complex and underground parking – all seamlessly integrated into a beautiful park-like environment. This world-class corporate campus has attracted an enviable cast of ‘A-list’ tenants, including HBO, CBS, Symantec and Pfizer and was almost fully leased by the end of the renovation in early 2004. Importantly, the local community will also be regular guests, with HBO planning to use Colorado Center's park for its "Screen on the Green" series, showing classic films to outdoor audiences.

VALUE CREATED
Colorado Center perfectly showcases Tishman Speyer’s significant redevelopment and project management skills. Renovation, re-design and landscaping have transformed Colorado Center into an urban oasis that offers the perfect balance between hi-tech work environment, community service and relaxation. Tishman Speyer has not only revived the fortunes and assured the future of a landmark Santa Monica development, it has reinvigorated a business district. In August 2004 we successfully sold the property, making an attractive return for our investors.