CALIFORNIA | LOCAL
June 26, 1996 |
The owner of the landmark 21-story McNeill Plaza has filed for bankruptcy, a late victim of the 1980s real-estate boom. Owner Roy L. McNeill, partner in The McNeill Group, said plummeting rents forced him to seek Chapter 11 bankruptcy protection despite the fact the building is nearly fully leased. "Rents on Ventura Boulevard eroded, and we had to stay with the marketplace," McNeill said.