The 90210 ZIP code has a new retail tenant. Specifically, Faraday Future has signed a lease for 10,511 square feet of space at 460 N. Beverly Dr. in the heart of Beverly Hills, Calif. It’s one of the largest retail leases since 2019, according to a news release.
Faraday Future, a global shared intelligent mobility ecosystem company, will use the space for a showroom, retail and general office for its auto dealership. JLL secured the lease on behalf of Maxxam Enterprises, the landlord at 460 N. Beverly.
JLL’s Houman Mahboubi, Devin Klein and Greg Briest represented the landlord. Luke Troedson of Savills represented Faraday Future in its lease.
The lease/building is directly across from the future Cheval Blanc Hotel by LVMH, and one block from world famous Rodeo Drive. The building’s newly remodeled facade and uniquely high ceiling (25’) made this a prime retail location.
“Despite the pandemic and evolving retail industry, we continue to see strong demand from retailers, professional services and restaurants looking to expand or relocate into Beverly Hills,” said Houman Manhoubi, JLL Executive Vice President. “Landlords are now able to push rents with future strengthening expected to continue throughout 2022 and 2023.