Arden Buys Warner Center for $64.5 Million

Arden Realty Inc., the largest office landlord in Los Angeles County, purchased Warner Corporate Center in Woodland Hills for $64.5 million.

The Los Angeles real estate investment trust bought the 254,000-square-foot, 12-story tower from Grosvenor, a London-based developer. The building at 21300 Victory Blvd. in Warner Center is 98% leased to such tenants as Cardinal Health Inc., First Health Group Inc., McDonald's Corp., Zurich American Insurance Co., D.R. Horton Inc., Bank of America Corp. and AT&T; Corp.

Shares of Arden closed down 13 cents at $33.66 on the New York Stock Exchange.

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