The properties, which encompass a total of 576,092 sf, stand at 7080 Hollywood Blvd., 1055 Wilshire Blvd. and 6380 Wilshire Blvd. All threebuildings were renovated and repositioned in 1998, bringing the occupancy level up to 90%. Kennedy-Wilson plans to step up marketing and implement a more comprehensive leasing program to boost the occupancy rate.
The acquisitions reflect the fund's goal to buy up suburban office properties in the South and West. "We believe there is substantial upside opportunity in suburban office properties in the Southern and Western states," says Barry Schlesinger, chairman of Kennedy-Wilson Properties Ltd.
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