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LOS ANGELES-Dr. David Lee’s Los Angeles-based Jamison Properties, already by far the largest owner of office space in the Mid-Wilshire submarket, has acquired a 220,000-sf office building at 3325 Wilshire Blvd. from California-based private investors for $15 million. Chris Runyen of the Downtown office of the Charles Dunn Co. tells GlobeSt.com that Lee won the asset in bidding against a number of other prospective buyers, including two residential developers who were among the three finalists for the property. Runyen and Amir Madadi of Dunn’s Downtown office led a Dunn team that represented both the buyer and the sellers. The building is 63% occupied and is home to a tenant roster including Marian College, Donald Vocational School and Hanmi Bank. The 13-story 3325 Wilshire Building, built in 1955, is part of a Mid-Wilshire office submarket of about seven million sf, most of which is owned by privately held Jamison Properties. The few significant buildings that Jamison does not own in the submarket are the Wilshire Colonnade project at 3701-3731 Wilshire Blvd., the 3250 Wilshire building, the Wiltern at Wilshire Boulevard and Western Avenue, 3324 Wilshire and 3810 Wilshire.Runyen points out that the 3810 Wilshire building is being converted to residential condos, which will decrease the inventory of office space in Mid-Wilshire and by doing so will increase the percentage of the total submarket inventory that Jamison owns. The 3325 Wilshire property is one of several office buildings across the streetfrom the former Ambassador Hotel site.Jamison through the years has acquired many Mid-Wilshire buildings with similarly low occupancy, or even vacant buildings, and has then filled them with tenants. After starting with primarily Wilshire Boulevard office buildings, Jamison has acquired properties in a number of L.A. office submarkets, including Downtown and the South Bay. The company also owns significant holdings in other property types.

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