Property Address: 468 N. Rodeo Drive, Beverly Hills CA 90210
Square Footage: 22,270
Deal Value: $245 million
The Newmark Knight Frank team led by Jay Luchs, Vice Chairman at Newmark Knight Frank, specializes in the sale and leasing of investment properties, with a focus on representing international retail and fashion brands in finding store locations. The team represents other non-fashion retail brands, restaurants and office tenants as well as various landlords throughout Los Angeles and in other select cities in leasing retail and office properties. In 2018, the team completed approximately $250 million in retail transactions totaling 400,000 square feet throughout Los Angeles. One particularly significant sale was 468 N Rodeo Drive, a 22,270 square foot retail property where Luchs represented the seller and which was sold for $300 million.
Property Address: 11801 Olympic Blvd., Los Angeles CA 90064
Square Footage: 50,000
Deal Value: $45 million
Tim Bower of CBRE represented the seller, Bed, Bath & Beyond, in the $45 million sale of the mixed-use, retail property. The private buyer, Gillis Family Partnership, represented itself in the transaction. The property, located at 11801 Olympic Blvd., was a former Sports Chalet building and can be featured as a retail store or an industrial, e-commerce space.
Property Address: 457-459 N. Rodeo Drive, Beverly Hills CA 90210
Square Footage: 11,625
Deal Value: $96 million
Carine Mamann, Kazuko Morgan, and Stephen Algermissen from Cushman & Wakefield brokered one of the largest retail investment sales of 2018: They represented the buyer in the acquisition of 457-459 N. Rodeo Drive in Beverly Hills for $96 million. At $8,240 per square foot, it was one of the highest price-per-square-foot retail sales of the year nationally. 457-459 N. Rodeo Drive, an 11,625-square-foot retail building which now comprises 7,150 square feet of ground floor space, 600 square feet on the mezzanine level, and 3,875 square feet on the basement level.
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