357 N. Beverly Drive, a 14k square foot, Class A single-tenant net lease and urban infill property located in the “Golden Triangle” section of Beverly Hills, California. We acquired the Class A property in 2013 for ~$22MM and sold the property in 2015 for ~$40.5MM.
The prior tenant paid substantially below market rent on a month-to-month term which we terminated upon closing. We subsequently re-leased the property at market rate rents to leading retailer H&M for their new concept “COS.” We redeveloped the property with major tenant improvements.
In fact, 357 N. Beverly Drive was the first COS store to open in the United States and will include a private press/media room on a portion of the second floor