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LOS ANGELES-A Los Angeles-based investment group has shelled out $20.4 million for Westlake Village’s 81,500-sf Plaza Center III. Duesenberg Investment Co. snapped up Plaza Center III, which was designed by Neil Scribner. The complex was sold by Plaza Center III LLC.

The office complex, which has yet to open, is already more than 75% leased. Companies including Merrill Lynch, Nortel, Met Life, Chase Manhattan Mortgage, American Title Co. and Coast View Capital have already inked leases at the property, says Tony Principe, a Westcord executive vice president, who served as the project’s exclusive marketing agent. Transactions are currently pending for another 6% of the building, Principe adds.

“The sale of this high-end office building prior to completion underscores the ongoing strength and appeal of the Conejo Valley,†says Principe. “The fact that the project is substantially leased further verifies this notion.â€

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