Built in 1949 and renovated in 1989, 5055 Wilshire was originally designed and built as the headquarters for the Carnation Company. The Carnation restaurant and coffee shop was part of the original project. The Carnation Company moved its headquarters to Glendale in 1989. Upon Carnation’s vacancy in 1989, BPG and USAA completely renovated and expanded the existing structure by adding the western half of the building. USAA transformed the building into a premier, trophy Class A asset. In 1992, the Hollywood Reporter made the building their corporate headquarters increasing the building’s occupancy to 98%. The Hollywood Reporter has since relocated.