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Article: Maneuvers at 811 Wilshire top tally of downtown L.A., Westside activity. (Los Angeles, California) (Real Estate)
- Article from:
- Los Angeles Business Journal
- Article date:
- May 30, 1994
- Author:
CopyrightCOPYRIGHT 1994 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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Prudential Insurance Co. of America has taken full title to downtown L.A.'s troubled 811 Wilshire office project as a result of maneuvers in the former "master leaseholder's" Chapter 11 bankruptcy case.
Prudential's Premisys Real Estate Services affiliate has taken over management of the renovated 315,467-square-foot tower at Wilshire Boulevard and Flower Street. And Prudential Realty Group has listed the property for sale - at an asking price to be announced shortly - with Richard Plummer of Cushman & Wakefield Inc., according to PRG Vice President Jeff Baize.
Prudential has been the property's "fee" owner, collecting $2 million annually through a long-term ...