HFF closes sale of the Bijan building on Rodeo Dr
Holiday, Fenoglio Fowler, L.P. (HFF) has closed on the sale of the Rodeo Drive building in Beverly Hills that houses ultra-exclusive Bijan fashion house.
Bijan the fashion house started in the 1976 and caters to ultra-high net worth individuals, by appointment only. It has an international clientele and is the longest standing privately owned designer house on Rodeo Drive at 420 North Rodeo Dr.
The Bijan building is a Rodeo Dr mainstay. It sits between Hugo Boss and Vera Wang and is known for the special Bijan edition yellow Rolls-Royce Phantom and the yellow and black Bugatti Veyron that match the building's facade which are parked out front of the building.
The property was marketed by HFF on behalf of a confidential seller, and it was purchased by a confidential buyer who paid cash. The purchase price is not being disclosed, but it is rumored to have been higher than last year's Chanel transaction at $152 Million.
"We are thrilled with the record pricing we were able to achieve on our client's behalf," Marc Schillinger of HFF said. "By leveraging our national platform and dedicated expertise across our primary business lines – debt, investment sales and equity placement – we evaluated multiple options in an extraordinarily tight timeframe and, ultimately, delivered the best outcome for our client."
HFF has been very active in the LA retail real estate marketplace, having brokered Playa Vista's Runway deal as well as several deals on Melrose. The Bijan deal brings its commercial retail space transaction total to 4.7 million square feet this year in LA alone.
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