BEVERLY HILLS, CA-A 63,691-square-foot redevelopment site located at Wilshire Blvd. and Linden Drive at the Beverly Hills Golden Triangle has come onto the market. The property is expected to generate high interest from investors and an excellent price-per-square foot value.

“It's a rarity to find a property of this size in the heart of Beverly Hills,” says CBRE's Laurie Lustig-Bower, who is marketing the property along with her CBRE colleagues Kamran Paydar and hotel experts Rod Apodaca and Bob Kaplan. “There is a lack of high-end condominium development in Beverly Hills. The combination of the residential feel of Linden Street and the walkability to some of the best restaurants and shopping in the world makes for a unique setting for this type of project.”

The seller believes the site could accommodate a luxury hotel on the Wilshire side and a high-end condominium complex on the Linden Drive side of the property, although the property is not entitled for any of these projects. “In the luxury hotel market, there is tremendous cache associated with a high profile address,” Apodaca about the possibility of developing a hotel on the property. “The opportunity to develop a luxury hotel in a phenomenal Beverly Hills location—right on Wilshire Boulevard, one of the most famous streets in the world—is a once in a generation opportunity.” European investors have already expressed interest.

Similarly, CBRE recently listed a 10-acre redevelopment site in West Los Angeles. The site is one of the largest to come onto the market since 2002. It is currently owned by Cumulus Media, which occupies a 45,000-square-foot broadcast center on the site.