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California  + Retail  | 

Beverly Hills BMW Dealership Divested in Record-Breaking $70M Deal

Matthews Real Estate Investment Services completed the $70-million sale of Beverly Hills BMW, a 339,000 square-foot dealership located at 5070 & 5071 Wilshire Blvd. in Los Angeles. The trophy asset broke records as the highest price ever reported for auto dealerships in L.A. Sonic Automotive currently operates the dealership

Both a net leased asset and a future development site, the nearly four-acre Mid-Wilshire property was a generational piece of real estate sold by an unnamed private family office that had owned the site for over half a century. The undisclosed buyer is also a family office in Los Angeles who partnered with an institutional capital partner.

Matthews’ Bill Pedersen, who worked in tandem with David Harrington and Kyle Matthews on behalf of the seller, notes “it took a unique buyer who was able to afford the record-setting pricing, yet had capital that was patient enough to wait for the current lease to expire given there still is a material amount of term left on the lease.”

For comments, questions or concerns, please contact Dennis Kaiser

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About Dennis Kaiser

Dennis Kaiser is Vice President of Public Relations and Communications for Connect Creative. Dennis is a communications leader with more than 40 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect Creative’s agency client services and is involved in a range of initiatives ranging from public relations and content strategy, communications and message development, copywriting, media relations, social media and content marketing services. Prior to joining Connect Media in 2015, his most recent corporate communications roles involved leading a regional public relations effort across Southern California for CBRE, playing a key marketing role on JLL’s national retail team, and directing the global public relations effort at ValleyCrest (BrightView), the nation’s largest commercial landscape services company. He has worked on marketing communications assignments for such CRE companies as Blackstone/Equity Office, Carlyle, Caruso, Disney Resorts, GE Capital, Irvine Company, Hines, Howard Hughes Corp., Jeffries, Lennar, MGM, Marcus & Millichap, Prologis, Raleigh Studios, Simon, Starwood, Trammell Crow Company, Transamerica, UBS and Wynn Resorts. Dennis has also worked on communications and launch strategies for a number of consumer electronic, media and tech brands including SlingMedia, Channel Master, Deluxe Media Entertainment, BeIn Sports, EchoStar and Sprint. Dennis’s agency background included firms such as Off Madison Ave., Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, Boy Scouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and the Thunderbirds Charities.

  • ◦Sale/Acquisition
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