BEVERLY HILLS, CA—La Colonnade has been sold by Grosvenor Americas to an undisclosed private investment group. Terms of the sale were not released.
The mixed-use building, located at 468 N. Camden Dr. in Beverly Hills, Calif., was built in 1983 and purchased by Grosvenor Americas in 2007. The property contains 17,000 sq. ft. of office space and 10,000 sq. ft. of retail. Current tenants include Global Business Centers, OneWest Bank and L’Amande French Bakery.
“La Colonnade enjoys an unparalleled location just one block off world-famous Rodeo Drive in the Golden Triangle of Beverly Hills,” said James Delmotte, senior vice president of Investment for Grosvenor Americas, in a statement. “After owning this trophy asset for six years, we saw the opportunity to invest proceeds from its sale into our West Coast investment program that includes mixed-use, office, multi-family, and retail properties.”
Madison Partners acted as the exclusive advisor and LA Realty as the local market contact for Grosvenor Americas.