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California  + Retail  | 

Rodeo Drive Property Sells Twice in 24 Hours, Purchase Price Doubles to $110M

Palm Beach, FL-based Sterling Organization closed the $110-million sale of a 7,634-square-foot parcel at 456 N. Rodeo Drive in Beverly Hills, CA. The Rodeo Drive property includes a 6,200-square-foot building, and is located in the heart of the “Golden Triangle.”

The property was acquired by a subsidiary of Paris-based LVMH. The sale came only one day after Sterling bought the property from The Karl B. Schurz Trust for $55 million. Sterling’s control and subsequent acquisition of the property resulted from a highly structured, off-market ground-lease transaction.

Sterling’s Brian Kosoy says, “On the West Coast, it’s all about those three, high-value blocks of Rodeo Drive where the world’s premier luxury brands must have a presence by planting their flag. As a result, when a circumstance presents itself to acquire a Rodeo Drive property, you aggressively pursue it, regardless of the complications involved in getting a deal done.”


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About Dennis Kaiser

Dennis Kaiser is Vice President of Content and Public Relations for Connect Commercial Real Estate. Dennis is a communications leader with more than 30 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect’s client content operations and is involved in a range of initiatives ranging from content strategy, message development, copywriting, media relations, social media and content marketing services. In his most recent corporate communications roles, he led a regional public relations effort across Southern California for CBRE, played a key marketing role on JLL’s national retail team, and was responsible for directing the global public relations effort at ValleyCrest, the nation’s largest commercial landscape services company. In addition to his vast commercial real estate experience, Dennis has worked on communications and launch strategies for a number of residential projects such as Disney’s Celebration in Florida, Ritter Ranch in Palmdale California (7,200 homes, 22,000 acres), WaterColor in Florida and PremierGarage in Phoenix. Dennis’s agency background included firms such as 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, BoyScouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and Thunderbirds Charities.

  • ◦Sale/Acquisition
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