Bob Safai of Madison Partners tells GlobeSt.com that Jamison bought the 54,341-sf, five-story office and medical building for $13.85 million from Lowe Northwest Investor Properties LLC. Safai, who represented both the buyer and the seller, says the center was 97% occupied at the time of the sale. The steel frame building was constructed in 1969 and fully renovated in 1998.
Lee owns a portfolio of about $300 million in real estate holdings and is by far the largest office landlord in the city's Mid-Wilshire district, where he owns more than 90% of the major office buildings. He acquired the Mid-Wilshire properties at about $40 to $50 per sf when they were vacant or largely empty, then filled them with tenants, bringing occupancy to well over 90% in his portfolio. Earlier this year, he bought his first downtown Los Angeles office holding, the historic Banco Popular building at 354 S. Spring St.
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