Buchalter represented Dole Food Company, Inc. in the sale of its headquarters building in Westlake Village, California to the Conrad N. Hilton Foundation in a $50 million transaction that closed during the week of September 10th. The 168,000-square-foot corporate campus, located at One Dole Drive, sits on more than 10 acres and has served as Dole’s corporate headquarters for more than 20 years. Dole and other affiliated companies also leased back a significant amount of space in the building. The Hilton Foundation, which had been a tenant at the property prior to the sale, has designated the site as its new headquarters.
Michael Zerman was the lead real estate lawyer for Buchalter on the transaction, with help from Gretta Moy on the leases and Aaron Elster on closing issues. Sarin Tavlian also contributed on the negotiation of a transition management agreement for a unique and elaborate on-site café.