X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

LOS ANGELES-The 9701 Wilshire building has been sold in a deal valued at $32.9 million. The 12-story Beverly Hills’ office facility encompasses 102,000 sf.

The seller, Pacific Eagle Holdings, was represented by Drew Hild of Beitler Commercial. The buyer, Alex Winitsky, was represented by Joel Frank of First Property.

The transaction comes on the heels of a recent report showing that although the county’s office vacancy rates are climbing, rents here are also rising. The report, published by NAI Capital Commercial, finds that the average rental rate for class A space is currently $2.27 per sf, as compared to $2.16 at year-end 2000.

Meanwhile, the Basin’s direct vacancy rate is at 12%, as compared to 10% at year-end, NAI says. In addition, net absorption totaled negative 1.2 million sf in the first six months of 2001, as compared to positive 5.4 million sf during the last half of 2000.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.