The Union Bank Getty Oil Building at 3810 Wilshire Blvd. and the former Ohrbach's department store at Wilshire and Fairfax Avenue have been purchased for about $30 million by the City Center Group of Cos. of Los Angeles in a joint venture with Independence Bank of Encino.
The seller was the Kornwasser & Friedman law firm of Los Angeles. City Center chairman Malcolm Kingston said the former Ohrbach's property will be rebuilt into a 200,000-square-foot shopping center to be called the Wilshire Market Place Mall.
One big advantage of the property, he said, is the existing parking structure that will hold 900 cars.