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Hertz Group Seeks to Sell Former University Club Site

April 20, 1999| From a Times Staff Writer

The vacant home of the former University Club in downtown Los Angeles is up for sale for $7 million--more than twice what the current owner paid for the property in late 1997.

Hertz Group, which has purchased several downtown properties at bargain prices in recent years, has invested heavily in improving the 43-year-old structure, said broker Wolfgang Kupka of Cushman & Wakefield, who is in charge of selling the six-story, 110,000-square-foot property at 630 W. 6th St.

Kupka said Hertz had intended to rent out the building for receptions, weddings and other special events. But Hertz purchased another building for that and decided to put the Six Thirty Building, as the property is known, up for sale.

The University Club closed in the early 1990s, and the building has been mostly vacant since.

Kupka said his firm will market the building primarily to telecom firms, which have been scooping up space in nearby buildings.

Hertz Group, a Los Angeles-based investment company headed by Judah Hertz, also owns the Oviatt Building, Poplar Center, California Jewelry Mart, Bamboo Plaza, and the Wiltern Theater and office tower.

For the Record
Los Angeles Times Tuesday April 27, 1999 Home Edition Business Part C Page 10 Financial Desk 1 inches; 22 words Type of Material: Correction
Vista Realty--A story April 20 misidentified Wolfgang Kupka's real estate advisory firm. Kupka is president of Los Angeles-based Vista Realty Advisors.

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