LOS ANGELES—New York-based Tishman Speyer hasacquired Murdock Plaza, a 17-story,327,000-square-foot office building in Westwood.The seller and the sales prices were undisclosed, however, industrysources unrelated to the deal tell GlobeSt.com that the seller isIndivest and the approximate sales price is $122million.

Tishman Speyer plans to renovate the property's infrastructureand interior to attract world-class tenants to the property and tomaintain its standing as a premier office space. Located at 10900Wilshire Boulevard, the noteworthy property is in a prime Westsidelocation, and with ocean and mountain views, is a bit of an icon inthe submarket. Tishman Speyer did not disclose the amount ofcapital the company plans to invest into the property.

According to Tishman Speyer's co-CEOs JerrySpeyer and Rob Speyer, the property'sprime location attracted them to the acquisition opportunity. Theinvestor has had it eye on the West Los Angeles market for the pastseveral years, buying and selling class-A office properties.Tishman Speyer recently sold a 236,000-square-foot office property portfolioon Civic Center Drive in Beverly Hills to the RockefellerGroup for an undisclosed amount. The portfolio UTAPlaza and the Ice House, and is 100%occupied by Playboy Enterprises, UnitedArtists Talent Agency and the Live Nationheadquarters. Tishman Speyer declined to comment on thetransaction.