X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

BEVERLY HILL, CA-FH Distributors has sold its 4,000-square-foot office building at 193 N. Robertson Blvd. for $3.6 million, or $900 per square foot, to So Nice LLC, according to brokers from Coldwell Banker Commercial Westmac who were involved in the transaction. The two-story boutique office building was built in 1951 and was 100% occupied by two tenants at time of sale.

Bill Althouse of Coldwell Banker Commercial Westmac, which represented the seller, describes the $900 per square foot as “unheard of in today’s market,” for office properties, even for Beverly Hills. Another member of the Westmac team, Michael Rojas, calls the deal, “a great sale for the market, where few investments sales have occurred for like properties in all of 2009.”

According to the third member of the three-member Westmac team, T.C. Macker, the deal closed at a cap rate of less than 3%. He says that the new owner, who is based in Hong Kong, plans to hold the property as an investment. The buyer was represented by Kim Capobianco of Re/Max.

The 193 N. Robertson property was used as the exterior setting for the fictional “Townsend Investigations”from the popular TV show “Charlie’s Angels,” which ran from 1976-1981.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.