Even by Beverly Hills standards, Georges Marciano is cutting quite a deal.
One of the three brothers who founded Guess Inc., Marciano has sold his prime Beverly Hills office building for about $135 million, according to sources close to the deal. That works out to $613 a square foot for the nine-story building bought by a partnership of New York-based property manager George Comfort & Sons Inc. and Morgan Stanley Real Estate.
Marciano's Beverly Wilshire Properties Inc. purchased the 220,000-square-foot property 12 years ago for $27 million.
That tops the deal by a partnership of media billionaire David Geffen and healthcare mogul Bernard Salick, who recently sold their empty 160,000-square-foot office building at 407 N. Maple Drive to Tishman Speyer Properties Inc. for $71 million, or $444 a foot.
The Marciano deal hinges on leasing the property's block-long, 40,000 square feet worth of shops fronting Beverly Drive and Wilshire Boulevard. The storefronts face the site of the Montage hotel, which will rise across the street.
The new owners want to rent the space at $12 a foot high but not unheard of for that part of Beverly Hills. Already there have been talks with an international retailer to take a 20,000-square-foot storefront.
"The new owner is motivated to make deals," said Jay Luchs, a vice president with CB Richard Ellis Inc. who handled the building's retail leasing for Marciano.
The building's office space is 90 percent occupied.
*This story will be available in the Sept. 26 edition of the Business Journal.
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