Dr. Lee Swaps $14.4M for Another Mid-Wilshire Deed

John Anthony of the Charles Dunn Co.'s Downtown Los Angeles office says the purchase of the 87% leased building takes Jamison's holdings to 7.5 million sf in the Mid-Wilshire district, also known as the Wilshire Center district. Anthony and Janet Neman of Dunn's West Los Angeles office represented the seller, while Jamison represented itself.

Lee, a medical doctor and real estate entrepreneur, is the founder of Los Angeles-based Jamison Properties and known for having acquired and filled the Mid-Wilshire buildings with tenants after institutional building owners abandoned the area in the 1990s. Lee owns a portfolio of about $300 million in real estate holdings. He is by far the largest office building owner in the city's Mid-Wilshire district, where he owns more than 90% of the major office buildings.

Lee acquired the Mid-Wilshire properties at about $40 to $50 per sf when they were vacant or largely empty, then filled them with tenants. Lee has told GlobeSt.com that occupancy rates run well over 90% throughout the properties.

Last year, Lee bought his first building on the Westside, a 54,341-sf office and medical center at 11600 Wilshire Blvd., and also acquired his first downtown Los Angeles office holding, the historic Banco Popular building at 354 S. Spring St.