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Oscar Engelbert And Jens Grede Acquire Office Building From DivcoWest For $61 Million In Beverly Hills

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SOLD
$61,000,000

California

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Office89,642 SF
Sold 10/22/2024
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Property Image
SOLD

Oscar Engelbert And Jens Grede Acquire Office Building From DivcoWest For $61 Million In Beverly Hills

331 North Maple Drive

See Similar Deals
Office89,642 SF
Sold 10/22/2024
the dealplayerscompscontact
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Summary

CALIFORNIA
Asset Type:Office
Price Per Square Foot:$680
Total Square Footage:89,642 SF
Transaction Type:Sale

The office building at 331 North Maple Drive in Beverly Hills has been sold for $61 million. The property encompasses 89,642 square feet and is located within a prominent market area. The price per square foot for this transaction is $680.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: $61,000,000
  • Property Address: 331 North Maple Drive
  • Market: Beverly Hills
  • Buyer: Oscar Engelbert & Jens Grede
  • Seller: DivcoWest
  • Broker: Kevin Shannon - Newmark
  • Lender: Deutsche Bank

Oscar Engelbert and Jens Grede, who each own a 50 percent stake in the property, plan to use the building as the headquarters for Frame, a denim brand launched by Grede and Erik Torstensson in 2012. The property was previously owned and occupied by David Geffen’s DreamWorks Records and has been fully leased by Frame.

Players

Kevin Shannon
Newmark
Kevin Shannon
136 deals$9.1B volume
BROKER

Details

SOLD
IMAGE: Oscar Engelbert, Kevin Shannon, Jens Grede, Emma Grede & Erik Torstensson DATE: 10/22/2024 ADDRESS: 331 North Maple Drive MARKET: Beverly Hills ASSET TYPE: Office BUYER: Oscar Engelbert & Jens Grede (@JensGrede) SELLER: DivcoWest BROKER: Kevin Shannon - Newmark (@Newmark) LENDER: Deutsche Bank (@DeutscheBank) SALE PRICE: $61,000,000 SF: 89,642 ~ PPSF: $680 NOTE: Swedish developer Oscar Engelbert and fashion entrepreneur Jens Grede have acquired the office building at 331 North Maple Drive in Beverly Hills from DivcoWest for $61 million. The building, which will now serve as the headquarters for Frame, the denim brand founded by Grede and Erik Torstensson in 2012, had already been leased in full by Frame, covering the entire 89,642-square-foot property. Grede, who co-founded the shapewear brand Skims alongside his wife, Emma Grede, and Kim Kardashian, and Engelbert each hold a 50 percent stake in this landmark property, formerly owned and occupied by David Geffen’s DreamWorks Records.

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