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Tishman Speyer Closes Second Beverly Hills Sale in Six Months
In its second Beverly Hills office sale of 2024, Tishman Speyer sold 9242 Beverly Blvd. to Envision and Faring. The $90-million sale price equals $675 per square foot.
Tishman Speyer acquired the 133,000-square-foot 9242 Beverly in 2005 for approximately $38 million. It subsequently secured leases with private investment firm Post Real Estate Group and Miller-DM to establish a Mercedes-Benz luxury vehicle franchise at the building.
“This transaction demonstrates the success of our investment strategy at 9242 Beverly,” said Tishman Speyer senior managing director Paul Galiano. “It is a testament to the high-quality environment we cultivated at the building, which continues to draw companies seeking inspiring office space in the heart of Beverly Hills.”
This past August, Tishman Speyer sold 407 North Maple Dr. in Beverly Hills to apparel and lifestyle brand Fashion Nova for $119.7 million, or $685 per square foot. Originally acquired by Tishman Speyer in September 2005 for $71.9 million, the creative office campus is set to become Fashion Nova’s new headquarters.
- ◦Sale/Acquisition
