High-rise commercial buildings

Sub Markets

Property Sectors

Topics

California CRE News In Your Inbox.

Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.

New call-to-action
California  + Los Angeles  + Office  | 

StarPoint Snags Beverly Hills Building for $193M

Beverly Hills-based StarPoint Properties purchased a 12-story office building in Beverly Hills from its original owner for $193 million. The purchase of 433 N. Camden Dr. is a rarity for the “Golden Triangle” submarket, where low vacancy rates and high average rents among only 16 Class A office properties produce few ownership changes.

Built in 1972, and known as the Wells Fargo Building, the 207,432-square-foot property hasn’t been renovated in 15 years and falls 25% below the market’s average rent. StarPoint plans to modernize indoor and outdoor spaces, update existing office spaces and provide amenities.

StarPoint Properties’ Paul Daneshrad says, “For years, I’ve had a visual reminder of the enormous potential value of the building’s size and high-demand luxury location. I’ve also understood the long-term investment needed to reach that potential. Our plans will truly transform the property and create a fresh experience for both tenants and the public.”

Madison Partners’ Bob Safai handled the sale.

For comments, questions or concerns, please contact Dennis Kaiser

Connect

Inside The Story

Connect With StarPoint PropertiesConnect With Madison Partners’ Safai

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
New call-to-action
New call-to-action
New call-to-action