Updated Dec 4, 2024
One Cole Group Acquires North Beverly Drive Retail Collection In Beverly Hills For $39.2M
350 North Beverly Drive
$39,200,000
$3,531/SF
Building Size
11,100 SF
Asset Type
Retail
Closing
Aug 30, 2024
About this deal
AI
The retail asset located at 350-354 & 408-410 North Beverly Drive in Beverly Hills has been sold for $39,200,000. The property spans 11,100 square feet, resulting in a price per square foot of $3,532. It is fully leased to high-end tenants, including Nespresso and Alice & Olivia, and is situated in the prominent Golden Triangle area.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $39,200,000
- Square Footage: 11,100
- Price per Square Foot: $3,532
- Buyer: One Cole Group
- Seller: DWS
- Brokers: Jay Luchs, Ken White, Kevin Shannon, Laura Stumm, Michael Moll, Michael Kolcum & Rob Hannan - Newmark
Notable in this transaction is the role of the brokers, who facilitated the acquisition of the North Beverly Drive Retail Collection. The involvement of experts from Newmark underscores the importance of experienced representation in high-value property transactions.
On the Map
$39,200,000
$3,531/SF
Retail
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Players
Beverly Hills Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.40%
Cash-on-Cash
-0.12%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93