Menlo Park, Calif.-based Spieker Properties has acquired The Towers, a 23-story, 207,000 sq. ft. Class-A office tower in West Los Angeles, from New York-based Tishman Speyer. Spieker used funds from a recent industrial property disposition to fund the $58.5 million acquisition.
Adjacent to Interstate 405, The Towers is located on Wilshire Boulevard. Spieker now owns 1.7 million sq. ft. of office space in West Los Angeles.