REthink’s Principal Steve Edwards with his Assembly Group partner Beau Laughlin re-positioned and curated the 1000 Wilshire (Wedbush) Building. Lincoln Property Company and their building’s owner Illinois State Teacher Pension Fund partnered with Assembly Group to transform the stale 440,000 sf office high rise into a contemporary, attractive boutique “Class A” office building by redeveloping the ground floor and adding curated Food & Beverage. The building had not been updated since the mid 1980’s when it was built but it had some great bones. As such, Assembly Group set a plan in motion to reuse and transform the solid building features with an inviting and lived in hospitality feel.
- Completely redesigned and transformed the entire ground floor plane including the lobby
- Added Café & Coffee Bar
- Added sit down restaurant and expansive outdoor door dining deck and bar
- Added co-working light space
- Transformed building identity
- As a result, office occupancy and building desirability increased to which owner sold building for $65 million more than acquisition price 6 years prior (2.5x on equity). See link to article here.