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LOS ANGELES-A locally based partnership has paid $5 million for a 42,500-sf office building in Beverly Hills and plans to spend another $5 million to renovate it.

The private partnership, 8530 Wilshire LLC, was formed specifically to buy the six-story building at 8530 Wilshire Blvd. The mid-rise is commonly known as the Wilshire-LeDoux building.

The Los Angeles office of Investment Development Services represented the buyer. The seller, S.C. Development, represented itself.

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