National Bank of California signs lease for Westside penthouse

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In one of the largest office leases in West Los Angeles this year, National Bank of California has agreed to rent 26,000 square feet at Wilshire Bundy Plaza in a 10-year deal valued at more than $12 million.

National Bank will move its corporate offices to the 14th-floor penthouse and open a retail branch on the ground floor, according to real estate brokerage Madison Partners. The move is set for April 1.

Wilshire Bundy Plaza was built in 1984 at the northwest corner of Wilshire Boulevard and Bundy Drive. It is 75% leased to such tenants as Werner Publishing Corp., Business Wire and Catapult Marketing, according to real estate data provider CoStar.

The National Bank deal will bring the building to 85% occupancy, Madison Partners said.

-- Roger Vincent