JLL completes sale of 360 North Rodeo Drive in Beverly Hills, CA

 

360 North Rodeo Drive, Beverly Hills, CA

LOS ANGELES, CA – JLL Capital Markets has closed the sale of 360 North Rodeo Drive in Beverly Hills, California, on behalf of the Harkham Family.

Marc Schillinger 

360 North Rodeo Drive comprises a double lot on the 300 block of Rodeo Drive and is occupied by tenants, including Rolex, Patek Philippe, Ferrari and a former boutique hotel.

 The sale is evidence that Rodeo Drive maintains its position as the most desirable real estate in the world. JLL utilized its position as one of the world’s leading intermediaries to procure offers from the most qualified buyers globally. 

 The JLL team representing the seller was led by Senior Managing Director Marc Schillinger and Executive Vice President Houman Mahboubi. 

Houman Mahboubi

His extensive track record on Rodeo Drive includes the record price per-square-foot sale of 420 N Rodeo Drive, several hundred million dollars’ worth of financing, and record lease transactions that continue to surpass pre-covid numbers.

The team also included Geoff Tranchina of JLL’s Retail Capital Markets and JLL Hotel & Hospitality’s John Strauss, Tony Muscio and James Stockdale.

 The buyer was represented by Jay Luchs of Newmark.

Geoff Tranchina

“We were hired as advisors to explore all scenarios, sale, recapitalization, and holding with new leasing and financing in place," said Schillinger.

"Ultimately the buyer demand was so compelling that the best outcome was a sale. We were honored to represent the Harkham’s on this very significant transaction for their family.”

 “Tenant demand is also surging, and Rodeo is on a trajectory to achieve $1,200-per-square-foot rents by 2025,” added Mahboubi.

 

Contact:

 Kimberly Steele

JLL Manager

 Public Relations

Phone: +1 713 852 3420

 Kimberly.Steele@am.jll.com