J.H. Snyder Unveils Multi-Million Dollar Transformation of 530K SF SAG-AFTRA Plaza

J.H. Snyder recently completed a multi-million dollar renovation of the SAG-AFTRA Plaza, a prominent 530,000-square-foot Class A office building in Los Angeles' Miracle Mile submarket. Originally constructed in 1948 and previously upgraded in 2006, the building has undergone significant enhancements.

Financing and Loan Details

In 2018, J.H. Snyder secured a $105 million permanent loan from John Hancock, with the loan set to mature in May 2028, according to CommercialEdge data.

Key Renovations and Additions

The renovations at the 11-story building located at 5757 Wilshire Blvd. include a new outdoor tenant lounge with seating, tables, and lounges, a redesigned lobby, and two new restaurants. Additionally, the developer has added 15,000 square feet of office spec suites, which are already leased. Another 20,000-30,000 square feet of office space is under construction, expected to be completed by the first quarter of 2025.

One Museum Square Development

J.H. Snyder has also developed One Museum Square, a 285-unit residential tower within the Central Hollywood submarket. The leasing efforts for this development are managed by JLL, with commitments for approximately 40,000 square feet secured by the brokerage team, including Managing Director Micheal Geller, Vice President Greg Astor, and Senior Vice President Ben Silver.

Property Features and Tenants

The 7-acre SAG-AFTRA Plaza property now features approximately 28,000 square feet of retail space, floorplates averaging 25,000 square feet, and around 2040 parking spaces. Notable tenants include Museum Dental Center, Fusion, and Primetime Sports.

Historical Significance

Completed in 1943, the building was initially known as Prudential Square and Museum Square, serving as the western division headquarters for Prudential Insurance Co. At its peak, it was the tallest and largest privately-owned building in the city.

SAG-AFTRA Headquarters

In the 1990s, SAG moved its national headquarters to 5757 Wilshire Blvd., followed by AFTRA. In January 2014, the property was renamed SAG-AFTRA Plaza as part of a leasing agreement extending the union's stay until 2026.