ACF Property Management Inc. Closes $12 Million Sale for 800 South Hope Street; Building to Become New Home of MCI/WorldCom.LOS ANGELES--(BUSINESS WIRE)--June 1, 1999-- ACF (Advanced Communications Function) An earlier official product line name for IBM SNA programs, such as VTAM (ACF/VTAM) and NCP (ACF/NCP). ACF - Advanced Communications Function Property Management Inc. today announced the purchase of 800 South Hope Street, a 250,000-SF, Class A, 8-story structure located in the heart of downtown Los Angeles Downtown Los Angeles is the central business district of Los Angeles, California, located close to the geographic center of the metropolitan area. The sprawling, multi-centered megacity is such that its downtown core is often considered just another district like Hollywood or . Robert D. Beguelin, Director of Acquisitions for the Sherman Oaks-based company, represented 1-800 Hope LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control , the buying entity, in the $12 million transaction; the seller was 800 Hope Street Ventures, Inc., an entity owned by Donaldson, Lufkin & Jenrette, a major financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. firm based in New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of . "We are currently converting the building into a state-of-the-art telecommunications building. We are certainly pleased that the building will become the new home for MCI/WorldCom's international switch which will serve MCI's new Trans Pacific fiber optic cable Noun 1. fiber optic cable - a cable made of optical fibers that can transmit large amounts of information at the speed of light fibre optic cable transmission line, cable, line - a conductor for transmitting electrical or optical signals or electric power ," said Beguelin in making the announcement. "As a result, we are already experiencing interest from other companies that would like to be near this switch. The fact that this is one of the few large blocks of contiguous space available in a prime location in downtown Los Angeles makes 800 South Hope Street a very desirable location for telecommunications and other types of companies." The MCI/WorldCom 10-year, 16,000-SF-lease transaction includes options for up to 75,000 SF of additional space. Move-in is slated for August 1999. Previously known as the old Bullocks headquarters, new ownership has undertaken a variety of improvements for the structure, including lobby and common area renovations. Other infrastructure improvements planned for the building include 10,000 amps of additional electricity, back-up power generators, additional riser space for tenant use and dual diverse conduit connectivity. "There is no question that telecommunications companies require special systems and power to manage their operations," said Beguelin. "We are the only Los Angeles building that will have true dual diverse conduit connectivity availability for use by other telecom companies." Founded in 1968, ACF Property Management Inc. owns and manages residential, commercial and retail properties throughout the Western United States Noun 1. western United States - the region of the United States lying to the west of the Mississippi River West Santa Fe Trail - a trail that extends from Missouri to New Mexico; an important route for settlers moving west in the 19th century . With headquarters in Sherman Oaks, the firm maintains offices in Denver, Sacramento and Seattle. Note to Editors: A photo is available by contacting The Hoyt Organization at 310/373-0103. |
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