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Rodeo Drive Retail Building, Home to Luxury Brands, Sells for $96M
A prime retail asset in Beverly Hills, CA traded hands for $96 million. The 11,625-square-foot building is home to Italian menswear retailer Brioni and British luxury fashion house Alexander McQueen. The deal works out to $8,240-per-square-foot.
A joint venture, led by Michael Shabani of Crown Equity, Hakim Holdings, GWP Real Estate, and Mazal Enterprises, acquired the property at 457-459 N. Rodeo Dr. from Lang & Lang Properties, LLC. The property encompasses 7,150 square feet of ground floor space, with roughly 600 square feet on the mezzanine level, and another 3,875 square feet on the basement level. The property also features 50 feet of Rodeo Drive frontage.
Cushman & Wakefield’s Carine Mamann, Kazuko Morgan, and Stephen Algermissen represented the buyer.
Mamann says, “Rodeo Drive is one of the most prestigious streets in the world, and it is very rare that an investor has an opportunity to buy a building that is 100% leased to Kering brand luxury tenants.”
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Lease




