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Tishman Speyer completed the sale of the 9242 Beverly Boulevard office property for $90 million in December 2024, marking a significant trade in Beverly Hills’ commercial real estate market. The property, located near the Golden Triangle district, spans 133,000 square feet and sold for $675 per square foot. The buyer was a partnership between Jason Illoulian’s Faring and Frank Zarabi’s Envision brand. This sale price represents more than double the $38 million Tishman Speyer originally paid for the property in 2005, reflecting its exceptional location and investment appeal.

The property’s prime location near the prestigious Golden Triangle district in Beverly Hills was a key factor driving its impressive sale price. Known for its high-end appeal, the area attracts luxury retailers, fine dining establishments, and affluent clientele, making it one of the most desirable commercial hubs in Southern California. Its high visibility along Santa Monica Boulevard adds to its allure, providing unmatched signage opportunities for branding and identity.

This acquisition aligns with Faring and Envision’s strategy to invest in well-located, value-add opportunities within key markets. The deal highlights the enduring demand for Beverly Hills office assets, even amidst broader market uncertainties, reflecting the area’s resilience and continued investor confidence in the region’s long-term growth potential.

Links:

• Tishman Speyer Completes Sale of 9242 Beverly Boulevard in Beverly Hills
• Tishman Speyer Sells 9242 Beverly Boulevard Office Building in Los Angeles for $90M