Grosvenor Americas has sold La Colonnade, a trophy mixed-use building in the heart of Beverly Hills, CA to an undisclosed private investment group. Grosvenor Americas acquired the building, located at 468 North Camden Drive, in 2007.
This three-story property, built in 1983 and known for its striking architecture, has approximately 17,000 SF of office space and 10,000 SF of retail space, as well as a rooftop patio and a three-level subterranean garage with 86 parking spaces. Tenants include Global Business Centers, OneWest Bank and L’Amande French Bakery.
Grosvenor Americas was represented by Madison Partners as the exclusive advisor and LA Realty as the local market contact; the buyer was not represented.
“La Colonnade enjoys an unparalleled location just one block off world-famous Rodeo Drive in the Golden Triangle of Beverly Hills,” remarked James Delmotte, Senior Vice President, Investment for Grosvenor Americas. “After owning this trophy asset for six years, we saw the opportunity to invest proceeds from its sale into our West Coast investment program that includes mixed-use, office, multi-family, and retail properties.”
Sommer Johnson, Investment Manager for Grosvenor Americas, stated: “Situated within the most desirable and supply-constrained district of prestigious Beverly Hills, La Colonnade provides convenient access to the business centers of the Westside as well as some of the nation’s most affluent residential communities.” He added, “It was attractive to users who desire to own a building for their own occupancy.”
Grosvenor Americas also owns 308-310 North Rodeo Drive in Beverly Hills, with approximately 15,000 SF of retail space housing the internationally renowned jeweler Harry Winston and women's fashion retailer bebe.
For more information contact:
Naomi Curtis/Sorrel Basher, Press Office
020 7312 6479/6101
Notes to Editors
Grosvenor is a privately-owned property group with offices in 19 of the world's most dynamic cities. We have regional investment and development businesses in Britain & Ireland, the Americas and Asia Pacific. Our international fund management business operates across all these markets and also Continental Europe. We also have indirect investments, managed centrally. As of December 31, 2012, the Group had total assets under management of £12.2bn ($19.9bn).Unusual for a private company, Grosvenor publishes a full Annual Report & Accounts, available at: www.grosvenor.com.