Private Buyer Pays $1,700/SF in Golden Triangle
An owner/user, George Chamoun, has paid $8.2 million or $1,700 per square foot for a 4,900-square-foot building located at 9549-9551 Wilshire Blvd. in the Beverly Hills Golden Triangle. The buyer will occupy the building for his jewelry business on the ground floor and utilize the upstairs office for business operations.
JLL’s Houman Mahboubi and Devin Klein represented the seller, Ascot Chang USA, as well as the buyer.
“We continue to see demand to lease and acquire retail space in the Beverly Hills Golden Triangle,” said Mahboubi. “As retail continues to evolve, we are seeing nontraditional retail tenants looking for ground-floor space in Beverly Hills including professional services, financial, medical, real estate offices and other users.”
9549-9551 Wilshire is located near the intersection of Rodeo Drive and Wilshire Boulevard, adjacent to the iconic Regent Beverly Wilshire Four Seasons Hotel. Neighboring tenancy also includes Rimowa, Fendi, Louis Vuitton, Balenciaga, Prada, Dior, Lanvin, Burberry, Van Cleef & Arpels, Two Rodeo and Jimmy Choo. The property provides direct access to an affluent customer base with an estimated average household income of more than $200,000 within a half-mile radius.