Former Retail Property in Beverly Hills Sells as Flex Office to Private Investor for $11.1 Million -- CBRE

Building sold off market for the highest price per square foot on Beverly Drive, south of Olympic

Los Angeles – CBRE announced the off-market sale of an 8,013 square-foot retail and flex-office building in Beverly Hills to Dordick Law Corp. for $11.1 Million. The personal injury law practice will move into the space .

Jonathan Farasat, Patrick Wade, Alex Kozakov and Matt Greenberg represented the buyer in the transaction. The seller, Zina Sherman, a fine jewelry designer, was represented by Jeff Resnick and Andrew Gharibian.

Located at 470 S Beverly Dr, the property features 140 feet of frontage between the corners of South Canon Drive of Whitworth Drive. The unique site, which is a mixed-use retail-creative office property, sits on more than 12,000 square feet and is poised for future development. The open floor plan allows for creative uses, and Dordick plans to renovate the space to accommodate the law practice. The property also features 10 parking spaces.

“Beverly Hills is one of the most desired markets in the United States with extreme barriers to entry,” said Farasat. “This building sits on the corner of one of the most renowned streets of Beverly Hills. The acquisition was a once-in-a-lifetime opportunity to operate an office in Beverly Hills with future development potential, which is a big bonus.”

Added Wade, “We are seeing traditional retail buildings being repurposed into creative office spaces and other uses, particularly in prime neighborhoods. The demand for well-located assets remains strong in submarkets like Beverly Hills.”