Beverly Hills' Bijan Store Sold for $122 Million
At a price per square foot of over $19,000 paid by LVMH, the deal trumps the price Chanel paid last year for a neighboring building on Rodeo drive.
In what is being heralded as the largest sale within Beverly Hills’ ritziest shopping district, the parent company of Louis Vuitton has purchased Bijan’s yellow store on Rodeo Drive for $122 million, according to records found on real estate tracking firm CoStar. The sale occurred last month.
On a price per square foot level, the deal by LVMH trumps the price luxury retailer Chanel paid last year for a neighboring building on Rodeo drive. The Paris-based conglomerate paid more than $19,000 a square foot compared with the $13,000 paid by Chanel.
The 6,200-square-foot space may be passing from one luxury retailer to another but it is still a changing of the guard. Bijan had occupied that space for 40 years.
Holliday Fenoglio Fowler’s Bryan Ley, Marc Schillinger, and Bill Fishel represented the sellers, confirmed via CoStar as the Brooks Caddell Barton Trust and Dominium Management Corp. When reached by phone an LVMH representative declined to comment.
The deal was first reported by the Los Angeles Business Journal.