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Getty Office Tower Gets New Owner And New Name

LOS ANGELES-For nearly 10 years, the landmark 22-story office tower on Wilshire Boulevard that was once headquarters to the Getty Oil Co. sat vacant. That all changed this week, however, when Upside Investments purchased the property for $21 million and began working on an ambitious $31 million plan to turn it into luxury apartments and an upscale retail center.

By Beverly Ford | Updated on October 07, 2003

LOS ANGELES-A 22-story landmark office tower that was once served as the headquarters of the Getty Oil Co. will be transformed into 260 luxury apartments and 25,000 sf of upscale retail space under an ambitious $31 million renovation plan to be undertaken by the building’s new owner.

Upside Investments, Inc., a Calabasas, CA investment group that specializes in rescuing and repositioning floundering properties, purchased the 3810 Wilshire Blvd. property, which has been vacant for nearly 10 years, for approximately $21 million in a deal with an unnamed New York financial institution.

“The primary appeal for us was its location,” Sean Baker, president of Upside Investments tells GlobeSt.com of the building, located in the heart of Mid-Wilshire at the southwest corner of Wilshire Boulevard and Western Avenue. The unobstructed views from almost all 22 stories along with nearby shopping and restaurant amenities, helped solidify the firm’s decision to buy, he said.

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