BEVERLY HILLS, CA—A private, Silicon Valley-based investor has sold a retail property to North Camden Properties, led by investor Alex Nehorai, for $12 million in an off-market transaction. The building is currently occupied by Gucci, Prada and Engel & Volkers.
Located at 340 N. Camden Drive in Beverly Hills, the 5,132-square-foot, three-story property has been fully remodeled to target high-quality tenants. The retail stretch is located one block from the renowned Rodeo Drive shopping mecca, and leases to many similar luxury retailers.
Coldwell Banker Commercial WESTMAC brokers T.C. Macker, CCIM, and Brian Peterson represented both the buyer and the seller in the transaction. The brokers declined to comment further on the deal.
Nehorai has been involved in the purchases of four other properties in the past year, including the acquisition of a Honda property in Santa Monica for $22 million. Purchased in July of last year, the property has 75,000 square feet of land space and 50,000 square feet of building space, and sits on two corners of Santa Monica Blvd. Both purchases illustrate Nehorai’s interest in acquiring high-profile properties in the Beverly Hills and Santa Monica markets. According to the brokers, he is looking to continue to expand his portfolio in these two regions.