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Taking the cure. (Real Estate).

By King, Danny
Publication: Los Angeles Business Journal
Date: Monday, May 13 2002

One healthcare firm's lease may not cure an ailing Brentwood submarket, but it can't hurt.

Santa Barbara-based Tenet Healthcare Corp. signed a 10-year lease for 33,500 square feet in the 235,000-square foot West Wilshire Center at 11620 Wilshire Blvd. The lease renewal -- Tenet's current

lease is up in October 2002--was worth $11.3 million.

The deal is a boon for landlord Lowe Enterprises Inc., which has recently renovated much of the project and will be putting an additional 50,000 square feet at West Wilshire on the market in the fourth quarter. It will also help a Brentwood submarket whose vacancy rate was 10.5 percent in the first quarter, up from 6 percent in the year-earlier quarter, according to Grubb & Ellis data.

"They looked at different alternatives in the market and decided staying at West Wilshire was best for the business," aid CB Richard Ellis Senior Vice President Jeff Pion, who, with Deron White, represented Lowe Enterprises on the deal.

Greg Johnson of Daum Commercial Real Estate represented the tenant.

Staff reporter Danny King can be reached at (323) 549-5225 ext. 230, or at dking@labusinessjournal.com.

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