Korean Investors Group Leases Mid-Wilshire Office Building

A group of Korean investors led by Dr. Kee W. Ha has leased the five-story Transport Indemnity Insurance Building, 3670 Wilshire Blvd., from Great American Insurance Co. in a 10-year lease valued at more than $5 million, according to Thomas N. Klein, partner, L. A. West commercial real estate brokers, Santa Monica.

L.A. West represented Great American, and Apple Realty, Los Angeles, the Korean group.

Klein said that Ha is purchasing the 12-story Texaco building at 3350 Wilshire Blvd. for what he estimates at about $14 million.

“The Korean business community is expanding its influence and making a positive impact in Mid-Wilshire,” Klein said.”

” In fact, total leasing activity in Mid-Wilshire is up more than 20% over last year.” He attributed this growth to what he termed the favorable rental packages available in Mid-Wilshire compared with downtown and suburban areas, as well as the vacancy decline downtown.