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Article: Arden Realty Adds to Westside Office Concentration With Acquisition of 6701 Center Drive at Howard Hughes Center.
- Article from:
- Business Wire
- Article date:
- June 4, 1999
CopyrightCOPYRIGHT 1999 Business Wire. 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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LOS ANGELES--(BUSINESS WIRE)--June 3, 1999--
Officials at Arden Realty Inc. (NYSE:ARI) announced today that the company has purchased 6701 Center Drive at the Howard Hughes Center in West Los Angeles, for a purchase price of $53 million or approximately $169 per square foot.
The 313,726-square-foot, Class "A" office tower was purchased by Arden Realty as a strategic complement to its ownership of buildings in the Howard Hughes Center, which Arden is in the process of developing. With the purchase of this building, Arden owns two of the three office buildings within the Howard Hughes Center as well as the Spectrum Executive Health Club.
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