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The New Jersey-based Mutual Benefit Life Insurance Company teamed with San Francisco's Shorenstein Company to develop this Modern highrise located on a prime section of Los Angeles's Miracle Mile District. The developers commissioned the local firm of William L. Pereira and Associates to design the building; Pereira's plan called for a 30-story, 426-foot-high office tower to contain 491,000 square-foot building. Mutual Benefit Life occupied it from 1971 until it filed for bankruptcy in 1991. In 12/2005, the Ratkovich Company, along with Prudential Real Estate Investors, purchased the property, which had by this time deteriorated noticeably. The building's web site enumerated improvements made since the 2005 acquisition: "We have completely renovated all the functional systems, from the roof to the basement. A new central plant, a new roof, an upgraded fire life safety system, a new generator, and 16 new, state-of-the-art elevators contribute to the fresh, environmentally-friendly and technologically advanced feel of the building." (See "5900 Wilshire,"Accessed 09/18/2013.) Ratkovich reported that it had spent $34 million on this restoration which also included new HVAC equipment, electrical improvements, and enhancements to the security and emergency systems. Los Angeles architectural firm Johnson Fain created new lobby and restaurant space, as well as "new 'green' standardized tenant improvements." As a result of these improvements, the Ratkovich Company reported that the building had 90% occupancy in 2013. (See The Ratkovich Company, "5900 Wilshire in Los Angeles, California"Accessed 09/18/2013.)

This office building was located directly across Wilshire Boulevard from the Los Angeles County Museum of Art (LACMA), "...sharing its formal plan and water features." (See "5900 Wilshire,"Accessed 09/18/2013.)

Company has competed at $34 million total renovation to the building which included the replacement and upgrading of the building’s entire infrastructure, a new roof, a new HVAC system, the replacement of 16 elevators along with electrical upgrades and new emergency and security systems, bringing the building to a near-new condition. In addition, the Johnson Fain designed reconceived and expanded lobby, redesigned and renovated common areas, the new “green” standardized tenant improvements, the development of an on-site white tablecloth restaurant, and new retail pavilion

PCAD id: 7194