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LA Investors Grab 81,500-SF Plaza Center III

LOS ANGELES-The not-yet-completed building is 75% leased to Merrill Lynch, Nortel, Met Life, Chase Manhattan Mortgage, American Title Co. and Coast View Capital. Transactions are said to be pending for another 6% of the building

By Erin Cassin | Updated on November 29, 2001

LOS ANGELES-A Los Angeles-based investment group has shelled out $20.4 million for Westlake Village’s 81,500-sf Plaza Center III. Duesenberg Investment Co. snapped up Plaza Center III, which was designed by Neil Scribner. The complex was sold by Plaza Center III LLC.

The office complex, which has yet to open, is already more than 75% leased. Companies including Merrill Lynch, Nortel, Met Life, Chase Manhattan Mortgage, American Title Co. and Coast View Capital have already inked leases at the property, says Tony Principe, a Westcord executive vice president, who served as the project’s exclusive marketing agent. Transactions are currently pending for another 6% of the building, Principe adds.

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