Sumitomo Buys 800 Wilshire Office Building
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Sumitomo Life Realty (N.Y.) Inc., advised by Richard Ellis Inc., has purchased 800 Wilshire Blvd., a 16-story, 216,000-square-foot office building, from a partnership of Peck/Tooley Wilshire Associates and the Noro Group of Companies.
The buyer is a U.S. subsidiary of Sumitomo Life Insurance Co. Ltd., one of Japan’s largest life insurance firms. The sale price was not disclosed, but industry sources said it was about $45 million.
The building is leased primarily to financial institutions, including Mitsubishi Bank, Credit Suisse, Nippon Credit and Dean Witter Reynolds.
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