Bijan, 420 North Rodeo Drive, Beverly Hills, CA
 |
| Marc Schillinger |
LOS ANGELES, CA, July 14,
2016 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed
the sale of an iconic high-street retail building that houses Bijan on Rodeo
Drive.
HFF exclusively marketed
the property on behalf of a confidential seller. A confidential investor purchased the asset
all cash in a transaction.
The property is fully
occupied by Bijan, a world-class fashion house that was founded in 1976 and
caters on an appointment-only basis to the ultra-high-net-worth international
community, drawing customers from the United States, Asia, Europe, Africa,
South America and the Middle East.
Bijan has successfully
operated at the subject property for more than 40 years and is the
longest-standing privately-owned designer house on Rodeo Drive.
Situated at 420 North Rodeo Drive, the Bijan
building is one of the most-recognizable storefronts in retail. The renowned yellow Rolls-Royce Phantom and
the yellow and black Bugatti Veyron (both Bijan limited editions) match the building’s
façade and interior and have long been hallmarks of the
internationally-acclaimed custom clothier and its late founder, Bijan Pakzad.
 |
| Bryan Ley |
The HFF team was led by Marc Schillinger, Bryan Ley and Bill
Fishel.
"We are thrilled with
the record pricing we were able to achieve on our client's behalf,"
Schillinger said. "By leveraging
our national platform and dedicated expertise across our primary business lines
– debt, investment sales and equity placement – we evaluated multiple options
in an extraordinarily tight timeframe and, ultimately, delivered the best
outcome for our client."
HFF has been extremely
active in the Los Angeles area in 2016.
The sale of the Bijan building comes on the heels of the HFF-brokered
sale of Runway Playa Vista, as well as high-street retail transactions on
Melrose Avenue and Melrose Place, adding to the more than 4.7 million square
feet of retail space that HFF has transacted on so far this year in the greater
Los Angeles area.
For a complete copy of the company’s news release,
please contact:
Kristen M. Murphy
Director, Marketing
HFF | One Post Office
Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 |
Direct: 617-848-1572 | Cell: 617-543-4873 | www.hfflp.com
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