North Beverly Drive Retail Collection Acquired by One Cole Group

Beverly Hills-based One Cole Group acquired the North Beverly Drive Retail Collection for $39.2 million, or $3,524 per square foot. The two buildings, located in the famed Golden Triangle area at 350-354 and 408-410 North Beverly Drive, totaled 11,124 square feet. They were fully leased to retailers Maje, ALC, Taschen, Nespresso and Alice & Olivia.

“These kinds of properties rarely trade,” said Rob Hannan, vice chairman at Newmark, in a statement. “Many properties throughout the Triangle have been owned by families for generations because of their timeless appeal and irreplaceable location, making Beverly Hills a highly sought-after but challenging market to access as an investor.”

Newmark’s Kevin Shannon, Jay Luchs, Rob Hannan, Ken White, Laura Stumm and Michael Moll and Director Michael Kolcum represented the seller, DWS.