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Bunker Hill Harbinger?

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The Australian owners of One California Plaza have taken the 42-story Downtown office tower off the market after seeking a buyer for a year, reports the Wall Street Journal. Macquarie Office Trust may have had trouble finding companies who could get enough credit to buy the building--valued in 2006 at $325 million. Or the decision may be prompted by some positive thinking: the WSJ came upon a Macquarie document that read, "Given we expect a turnaround in the U.S., it is clearly a poor time to sell." Also noteworthy: this story represents the first time in memory Bunker Hill was described as "tony." [WSJ]