The properties, which encompass a total of 576,092 sf, stand at7080 Hollywood Blvd., 1055 Wilshire Blvd. and 6380 Wilshire Blvd.All threebuildings were renovated and repositioned in 1998,bringing the occupancy level up to 90%. Kennedy-Wilson plans tostep up marketing and implement a more comprehensive leasingprogram to boost the occupancy rate.
The acquisitions reflect the fund's goal to buy up suburbanoffice properties in the South and West. "We believe there issubstantial upside opportunity in suburban office properties in theSouthern and Western states," says Barry Schlesinger, chairman ofKennedy-Wilson Properties Ltd.
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