Tishman Speyer Sells Beverly Hills Office for $90M
At $675 a square foot, the sale price is more than double what Tishman paid for the property in 2005
By Nick Trombola December 24, 2024 11:59 am
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Tishman Speyer is set to cap off a busy year for commercial real estate sales in Beverly Hills with a new $90 million office trade not far from the city’s famed Golden Triangle district.
A partnership between Jason Illoulian’s Faring and Frank Zarabi’s Envision brand acquired the 133,000-square-foot property at 9242 Beverly Boulevard from Tishman, spending $675 per square foot. That price is more than double the $38 million that Tishman paid for the property in 2005.
Representatives for Faring and Envision did not immediately respond to requests for comment.
The office is the second that Tishman has sold in Beverly Hills in recent months. In August, the firm traded a 175,000-square-foot property on North Maple Drive to fast-fashion brand Fashion Nova for $118 million. The building will serve as Fashion Nova’s headquarters.
Faring also made headlines earlier this year, having secured a $50 million bridge loan for a 500,000-square-foot Inland Empire warehouse, while that same month landing a $35 million loan for a 400,000-square-foot, mixed-use development in its hometown of West Hollywood.
Nick Trombola can be reached at ntrombola@commercialobserver.com.
