October 26, 2020
The Hakim Family, led by Sam Hakim, acquired a mixed-use property in Beverly Hills for $36.2 million, or roughly $1,216-per-square-foot. The seller was Sakioka Farms, which had owned the building in the heart of the Golden Triangle for more than 70 years.
Located at 139 S. Beverly Dr., the three-story building totals 29,735 rentable square feet and includes a rare surface parking area. The property includes prime, high-street retail space on the ground floor with two floors of office space above it. The majority of the office component is comprised of short-term leases.
Newmark’s Kevin Shannon, Rob Hannan, Ken White, Laura Stumm and Michael Moll represented the seller. Newmark’s Private Capital group, led by Sean Fulp, also assisted in the sale as did Newmark retail expert, Jay Luchs. The buyer was self-represented.
Shannon says, “This is yet another example of private capital with a long-term horizon, buying an extremely well-located asset, despite the current uncertainty.”
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