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Article: Mid-Wilshire conversion.(Forest City Enterprises Inc)(Brief Article)
- Article from:
- Los Angeles Business Journal
- Article date:
- August 8, 2005
- Author:
CopyrightCOPYRIGHT 2005 CBJ, L.P. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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While Forest City is moving full steam ahead with its residential conversion of downtown's 1100 Wilshire Blvd., the company is decamping from a similar project in Wilshire Center.
The company hired Mark Tarczynski of CB Richard Ellis Inc. to sell the former Getty Oil headquarters at 3800 Wilshire Blvd. Tarczynski expects Forest City can get about $95 million for the 343,000-square-foot building.
The company paid $75 million in February for the building, which is on the southwest corner of Wilshire Boulevard and Western Avenue. The previous owner, Calabasas-based Upside Investments Inc., intended to convert it into high-end apartments.
Forest ...