3303 Wilshire Boulevard – Los Angeles, CA
Buyer: UTLA (United Teachers Los Angeles)
Seller: New York Life Insurance
Representation: 170,000 RSF
Sale Price: $8,000,000
Close Date: June 1997
Submarket: Mid-Wilshire
Comments:
• Low initial yield due to 40% vacancy at time of sale
• Buyer was owner/user
• Conducted sealed bid sale due to deteriorating market conditions