Hines—in Partnership With USAA Real Estate and Philena… - Hines

Hines—in Partnership With USAA Real Estate and Philena Properties—to Build West Edge, a Mixed-Use Project in Los Angeles

(LOS ANGELES) – Hines, the international real estate firm, along with investor USAA Real Estate and Philena Properties announced construction of West Edge, a transformative, transit-oriented, mixed-use development situated within the creative heart of West Los Angeles. Featuring eight stories of creative office space, 600 luxury rental apartments, a full-service natural grocer, eight restaurants, in addition to cafes, boutique retail, and studio fitness options, West Edge will contribute to the vibrant local community and transform the West LA neighborhood.

With unobstructed views of the Pacific Ocean and west side, West Edge will offer 200,000 square feet of state-of-the-art office including eight office levels flooded with natural light with minimum 15’ slab-to-slab heights, a double-height showroom, separate secure building entrances, as well as connected and private landscaped terraces over five floors. Gensler, Togawa Smith Martin, and Rios Clementi Hale Studios designed the project with employee retention and productivity in mind: the office building is registered to be LEED® and WiredScore Certified and will pursue WELL Core & Shell Certification. West Edge is suited for media, technology, and high-growth users seeking a dynamic campus environment.

West Edge will be the preeminent live, work, play development in West Los Angeles and offers a luxury living experience and dynamic office and retail environment that exemplifies the California lifestyle. The highly visible landmark destination will also encompass 600 units of residential, with on-site apartments for employees, a vibrant one-half-acre open-air plaza with al fresco dining, and an exceptional depth and breadth of amenities including a 36,000-square-foot full-service natural grocer, bars and restaurants, and fitness.

The 4.8-acre site is the former home to the Martin Cadillac dealership and sits at the prominent corner of Bundy Drive and Olympic Boulevard less than one block from the Expo/Bundy Metro station which connects downtown Santa Monica to downtown Los Angeles. The site is located within half a mile of the 10 Freeway and within one mile of the 405 freeway, in close proximity to pockets of executive housing within Brentwood, Santa Monica, Westwood, and Pacific Palisades.

The Martin Family has owned the site for over 40 years and has spent the last seven years perfecting entitlements for the project. “We are excited to bring the shared vision of our family and the community to life with our partners Hines and USAA Real Estate. Our family has deep roots and legacy in the neighborhood, and we believe this project will transform West LA,” said Dan Martin, managing partner of Philena Properties.

“For more than six decades, Hines has been delivering world-class projects which have impacted cities across the globe,” stated Hines senior managing director and CEO of the firm’s U.S. West Region Douglas Metzler. “We are thrilled to have partnered with The Martin Family and USAA Real Estate to transform this neighborhood through what we believe will be a once-a-generation project; one we hope will serve as a model for transited-oriented development in Los Angeles and beyond.”

Demolition on the former dealership has been completed. The project has broken ground with a planned opening in 2022. For more information, visit https://westedgela.com/

About Hines

Hines is a privately owned global real estate investment firm founded in 1957 with a presence in 219 cities in 23 countries. Hines has approximately $124.3 billion of assets under management, including $63.8 billion for which Hines provides fiduciary investment management services, and $60.5 billion for which Hines provides third-party property-level services. The firm has 148 developments currently underway around the world. Historically, Hines has developed, redeveloped or acquired 1,362 properties, totaling over 449 million square feet. The firm’s current property and asset management portfolio includes 514 properties, representing over 222 million square feet. With extensive experience in investments across the risk spectrum and all property types, and a pioneering commitment to sustainability, Hines is one of the largest and most respected real estate organizations in the world. Visit www.hines.com for more information.

About USAA Real Estate

The mission of USAA Real Estate is to strengthen the profitability and diversity of the USAA investment portfolio and those of its investor clients by acquiring, developing, financing and managing quality real estate investments. The portfolio consists of office, industrial/logistics, multifamily, retail and hotel properties. Visit www.usrealco.com for more information.

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