WILSHIRE CENTER FALL REAL ESTATE ACTIVITY

Los Angeles, CA -- Jamison Properties made several significant purchases in Wilshire Center this quarter. The Wilshire Serrano Building at 3699 Wilshire was purchased for $24 million or approximately $80 per square foot. 520 South Lafayette was purchased for $4.5 million or approximately $41 per square foot. Jamison Properties also purchased the Wilshire Professional Building, at 3875 Wilshire Blvd. for $4.5 million. The Los Angeles County Department of Health Services signed a 70,000 square foot 10-year lease at Metroplex Wilshire, 3530 Wilshire Blvd. At the Albion Pacific Building, 3350 Wilshire Blvd., Multi-Cultural Marketing expanded by 17,500 square feet. Paramount Plaza signed several new commercial and retail leases CAN-AM Productions and Close-Up signed for 11,000 square feet; PeopleLink, moving from Santa Monica, leased 7,000 square feet; Jacobson & Associates signed for 3,600 square feet and Weboctave signed for 5,100 square feet. Wireless Mart, Monarch Men's Clothing and Saehan Bank, all leased ground floor retail at the building. Saehan Bank also leased 12,500 of office space at Paramount.

Softect Solutions signed a 7-year lease for 11,000 square feet at ACF Plaza, 3325 Wilshire, for approximately $1 million. Big 5 Sporting Goods expanded from 5,000 square feet to 17,00 square feet at 3424 Wilshire. Kaiser Permanante leased 27,000 square feet at the Wilshire Serrano Building at 3699 Wilshire Blvd. In addition, several new restaurants opened in Wilshire Center. O Mama Mia Ristorante Italiano, an extension of two downtown Italian restaurants, opened at Central Plaza, 3440 Wilshire Blvd. Aroma Wilshire Center's two dining facilities, L'Aroma, the rooftop gourmet French restaurant and banquet facility, and the casual international food court, both opened this month.

Businesses Migrate to Wilshire Center
Continued Growth in New Leases  

Wilshire Center continues to increase office and retail leasing activity in early 2001 as education and non-profit organizations, attracted by the competitive leasing rates, labor pool, public transportation and fiber-optic access continue the migration to Wilshire Center.

Operating Engineers Pension Fund sold an office tower at 3055 Wilshire to Dr. Lee for $12,000,000 or $59.00 per sq.ft.

AIDS Project Los Angeles is moving from operations from Hollywood into two new facilities in Wilshire Center, a 30,000 sq. ft. Dental Clinic at Paramount Plaza, 3550 Wilshire Blvd. and a Client Services Office at 611 S. Kingsley Drive.

Paramount Plaza's activity includes three more new leases; American Communications Institute is moving from Hollywood and has leased 8,000 sq. feet., the law firm of Stockwell, Harris, Widom and Woolverton is moving from the Miracle Mile area and leased 20,000 sq. ft. for ten years, and Stonehedge Winery, based in Napa Valley, has leased 2000 sq. ft., to create a marketing and sales office.

At the Wilshire Colonnade, 3701 Wilshire Blvd., Ticketmaster has leased an additional 10,000 square feet in an effort to consolidate their Pasadena office and online services at Wilshire Center. The Taipei Economic and Cultural Office is expanding with an additional 180,000 square feet.

Retail activity is also on the rise in Wilshire Center. Walgreen's has purchased a corner lot at 6th and Vermont and is now open for business. Sav-on also purchased property at Wilshire and Oxford and has been open since January 2001. The Aroma Sports Complex has leased ground floor retail space to Starbucks and to Charles Schwabb, and the facility is expected to be open at the end of April.

Central Plaza, 3440 - 3470 Wilshire Blvd., has two new restaurants on the ground floor retail plaza, Wasabi Noodle House, Italian Restaurant

Internet Café - 3500 sq. ft.,
Flowers by Gina

Garden Buffet - 3810 Wilshire

 The following businesses signed new leases or expanded in Wilshire Center last year:

Ø      Click 2 Asia signed a 28,200 square foot lease at Central Plaza—3440 Wilshire Blvd.

Ø      Future Media International signed a lease for 25,000 square feet at Paramount Plaza—3850 Wilshire Blvd.

Ø      US Jobber signed a lease for 22,000 square feet at Metroplex Wilshire—3530 Wilshire Blvd.

Ø      Brainrush signed a lease for 22,000 square feet at Metroplex Wilshire—3530 Wilshire Blvd.  

Ø      EducationBox.com signed a lease for 14,000 square feet at Central Plaza—3450 Wilshire Blvd.

The following businesses signed new leases or expanded in Wilshire Center second quarter 2000:

Ø      Graiwer & Kaplan expanded and renewed their lease for 8,500 square feet at Wilshire Financial Tower—3660 Wilshire Blvd.

Ø      California Design College is expanding into 23,000 square feet in 3440 Wilshire Blvd.

Ø      County of Los Angeles is expanding to 23,000 square feet at 3333 Wilshire Boulevard.