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Watergate Building to Be Sold
The Los Angeles real estate firm BentleyForbes has reached an agreement with Trizec Properties to buy the Watergate office building.
(By Joe Raedle -- Getty Images)
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Wehba pleaded guilty because he did not want to risk a trial and the possibility of a much longer sentence, said William M. Ravkind, a lawyer who represented Wehba in the case.
In a statement forwarded by a California public relations firm, BentleyForbes said information from more than a decade ago "has no direct bearing" on BentleyForbes's operations.
The 1972 break-in at the Watergate headquarters of the Democratic National Committee, foiled by an alert security guard, began a chain of events that drove Richard M. Nixon from the presidency and a gave the building's name to the historic scandal.
The office building's tenants now include the Saudi Arabian Cultural Mission, the Kuwait Information Office, the Washington Opera and the law firm Schmeltzer, Aptaker & Shepard.
The building, which dates to the 1960s, has been for sale since May.
"It's a little unusual that it would be on the market that long, particularly given the frenzy in the marketplace," said Brian McVay, a senior managing director of Cushman & Wakefield, a real estate brokerage. The absence of a dominant tenant makes it more demanding to manage than buildings with a smaller number of larger tenants, McVay said.
Staff researcher Madonna Lebling contributed to this story.
