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Murdock Plaza Changes Hands for $130M

LOS ANGELES-Sumitomo Life Realty Inc. of New York sells the office tower on Wilshire Boulevard in the heart of Westwood to a private Los Angeles investment group.

By Brian K. Miller | Updated on October 04, 2007

LOS ANGELES-Murdock Plaza, a 17-story, 228,540-sf office tower on Wilshire Boulevard in the heart of Westwood, has changed hands for $130 million or $569 per sf. Sumitomo Life Realty Inc. of New York sells the 94%-occupied building to Wilshire Westwood Plaza LLC, a private Los Angeles investment group. The land beneath the building continues to be owned by two local private trusts.

Situated at the intersection of Wilshire and Westwood boulevards, the circa-1980 brick-skinned building was developed by billionaire investor David Murdock of Dole Foods, who still keeps an office in the building. Designed by Langdon Wilson, the building is well known as the home of the prestigious Regency Club, which occupies the top two floors, and many of its members.

The building’s tenants include Eli Broad and the Broad Foundation; Castle & Cooke; Mapleton Investments; former Mayor Richard Riordan/the Riordan Foundation and Riordan, Lewis & Haden; Wachovia Securities; Spyglass Entertainment; the executive search firm Spencer Stuart; Radar Pictures; Union Bank; and Comerica Bank.

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