Zenith Bows Out of $12.5M Office Building Purchase

Zenith Insurance Co. decided against purchasing an office building next door to its headquarters in Woodland Hills, Calif., the carrier announced Friday.Zenith had on May 28 announced its intention to buy the building -- where it leases office space -- from GRE Warner Califia LLC for $12.5 million. But the carrier announced Friday that it decided not to pursue the purchase, citing undisclosed terms of the escrow agreement.Zenith disclosed both the plan to buy the building and its decision to pull out of the deal in filings with the Securities and Exchange Commission.Source: Zenith ...