Flynt considers selling Hustler building in Beverly Hills

flynt.jpgTruly one of the uglier structures you'll come across: black, bulbous, and completely out of proportion to its surroundings. Old-timers might remember that the Wilshire and La Cienega building was formerly a branch of Great Western Savings. Flynt, publisher of Hustler magazine, bought the 10-story, 208,000-square-foot property in 1984. Now, he's looking to sell, and he has three serious bidders, according to Bloomberg (citing a source). They are Douglas Emmett, the real estate investment trust in Santa Monica, Kilroy Realty, an L.A.-based REIT, and Tishman Speyer Properties. Bids are believed to be in the $85 million range. A Flynt spokesman says no final decision has been made on selling, though he did tell Bloomberg that, "It's a valuable asset, whose equity we believe could be used more productively in other areas." Translation: If we get enough money, it's happening.

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Mark Lacter
Mark Lacter created the LA Biz Observed blog in 2006. He posted until the day before his death on Nov. 13, 2013.
Mark Lacter, business writer and editor was 59
The multi-talented Mark Lacter
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