Irreplaceable.

Kennedy Wilson purchased the prominent office building at 9701 Wilshire Blvd. for more than $51 million.

The 12-story building sits at the northeast corner of Wilshire Boulevard and Roxbury Drive in the heart of Beverly Hills' so-called Golden Triangle. The 108,000-square-foot building--built in 1973--contains six levels of parking.

Broadway Real Estate Partners LLC sold the building after purchasing it about two years ago for $37.6 million. During its ownership, Broadway boosted the occupancy to 95 percent from 85 percent.

In one of the larger deals, R.O.A.R. Management Co. Inc.--a new talent agency formed by former Endeavor agent William Ward and former MGM vice president Jay Froberg--is moving into the building and took building-top signage.

Other significant tenants include Synergy Workplaces, City National Corp. and John Paul Mitchell Systems.

"It's a unique location in Beverly Hills, one of the few high rises in the city and it's absolutely irreplaceable," said Barry Schlesinger, chairman of KW Fund Management, the Kennedy Wilson division that bought the property.

Kennedy Wilson used a mix of money from its KW Fun I and KW Fund II to buy the building.

Schlesinger said the property commands a premium because Beverly Hills has restricted all new construction to a 45-foot height limit--or about three stories. "New construction of this kind is just not going to happen," he said.

Beverly Hills has one of the best performing office markets in L.A. County, according to Grubb & Ellis Co. At the end of March, the Westside submarket had a 6.1 percent vacancy rate and asking rents of $3.20 a foot.