Grosvenor Americas Sells Trophy Property

Grosvenor Americas acquired the building in 2007. It is located at 468 N. Camden Dr. Grosvenor declined to provide terms of the deal to, citing a contractual agreement preventing disclosure.
This three-story property, built in 1983 and known for its striking architecture, has approximately 17,000 square feet of office space and 10,000 square feet of retail space. It also boasts a rooftop patio and a three-level subterranean garage with 86 parking spaces. Tenants include Global Business Centers, OneWest Bank and L’Amande French Bakery. The building is 94% occupied, according to a Grosvenor Americas spokesperson.
Grosvenor Americas was represented by Madison Partners as the exclusive advisor and LA Realty as the local market contact. The undisclosed buyer was not represented.
“La Colonnade enjoys an unparalleled location just one block off world-famous Rodeo Drive in the Golden Triangle of Beverly Hills,” said a statement from James Delmotte, SVP of investment for Grosvenor Americas. “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, multifamily, and retail properties.”
Sommer Johnson, investment manager for Grosvenor Americas, said in a statement that the 468 N. Camden Dr. location is “situated within the most desirable and supply-constrained district” of Beverly Hills.
Grosvenor Americas also owns 308-310 North Rodeo Drive in Beverly Hills. That location has approximately 15,000 square feet of retail space, with tenants including jeweler Harry Winston and women's fashion retailer bebe.
Grosvenor is a privately owned property group with offices in 19 cities. As of December 31, 2012, the group claimed total assets under management of $19.9 billion.

on May 24, 2013