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Office Building in Brentwood Is Purchased

August 27, 2003|Roger Vincent

Wilshire Bundy Plaza, a 14-story Brentwood office building on Wilshire Boulevard, has been purchased for $75 million by Namco Capital Group.

The seller was Lowe Enterprises Real Estate Group, which paid $55 million for it in 1999.

Namco Capital, a Brentwood investment firm, will move its headquarters into the building at 12121 Wilshire Blvd., said broker Bob Safai of Brentwood-based Madison Partners, who represented the seller. That will make the 290,000-square-foot tower almost fully occupied.

Other tenants include computer programmers Structural Research & Analysis Corp., Washington Mutual Inc. and law firms.

There were 16 bidders for the 19-year-old Wilshire Bundy Plaza, a sign that there are ample buyers for high-end office buildings even though the office rental market generally has been flat, Safai said.

The tower was built by Murdock Development Co.

-- Roger Vincent

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