Miracle Mile Joined by Wedge-Shaped Tower

Completion of The New Wilshire, a 16-story, wedge-shaped office building, has added a major element to the ongoing revitalization of Wilshire Boulevard’s Miracle Mile.

The $45-million, 210,000-square-foot structure at the southwest corner of Wilshire Boulevard and Fairfax Avenue is owned by Bracton Corp., a subsidiary of Midland Bank of Great Britain, and the Koll Co. has been named development manager, according to Rick Stephens, president of Koll’s Los Angeles division.

Designed by the late William Pereira, his architectural firm, Pereira & Associates, will occupy two floors of the building for its international headquarters, according to Steven C. Meixner, Los Angeles division vice president for Koll.

The architectural design includes 16 usable stainless steel balconies on each floor. Each wedge-shaped story will have 13,500 square feet of space and floor-to-ceiling, insulated windows will provide small and medium sized tenants with a high percentage of perimeter office space with maximum light and view, Meixner said.

A decentralized air-conditioning system operating seven days a week, 24 hours a day permits each tenant to have individual climate control.

Parking is in five subterranean levels entered by a circular, landscaped motor court with valet service. Two elevators serve the parking levels and four others the office floors. A concierge/security desk in the lobby provides monitoring by security personnel.

A Columbia Saving & Loan branch will be located on the ground floor, with remaining ground-floor space planned for a restaurant. Business-related services and shops are planned for the lower office floors.

Leasing agent is Cushman & Wakefield, and Catherine Leadbeater, project manager for the Koll Co., will be on site.