Rolls-Royce Dealer Takes 18K SF in Beverly Hills
A REIT run by CIM Group secured the tenant
By Greg Cornfield August 16, 2022 5:50 pm
reprints
Rolls-Royce is expanding in Beverly Hills.
Creative Media & Community Trust (CMCT), a real estate investment trust run by CIM Group, has secured a long-term lease with O’Gara Coach — the largest Rolls-Royce dealer in the world — for 18,000 square feet on the ground floor at 9460 Wilshire Boulevard for its new Beverly Hills flagship showroom.
O’Gara Coach will move into the new showroom in 2023, bringing the building’s occupancy to 90 percent. The terms of the lease were not disclosed.
Records show the nine-story building was acquired for $132 million in 2018. It’s one block from the famous Rodeo Drive high-end retail district. It includes 98,000 square feet steps from the Four Seasons Beverly Wilshire Hotel and the retail district referred to as the Golden Triangle.
“The Beverly Hills luxury strip brings to life the young and vibrant culture that defines the Rolls-Royce brand today,” said Martin Fritsches, president and CEO of Rolls-Royce Motor Cars Americas. “This new showcase location lies at the heart of the world’s entertainment, sports and business clientele that influences luxury lovers worldwide.”
O’Gara Coach has been selling exotic cars and luxury brands for more than 45 years, and continues to operate its dealership at 8423 Wilshire Boulevard in Beverly Hills.
“O’Gara Coach’s selection of 9460 for its flagship Rolls-Royce Motor Cars dealership is ideal for this significant retail location and adds to the cachet of this distinctive Beverly Hills retail corridor,” said Shaul Kuba, director and board member of CMCT and co-founder of CIM Group. “With the leasing of the remaining vacant retail space, and robust office leasing program, CMCT has successfully executed its business plan for this asset.”
Gregory Cornfield can be reached at gcornfield@commercialobserver.com.
