Sloan Capital has acquired Two Rodeo Drive in Beverly Hills, California from Rodeo Owner Corp. Steve Algermissen and Andrew Harper from Cushman & Wakefield's Southern California Capital Markets Group, and Ashley Marrison from Cushman & Wakefield's London office represented the buyer in the transaction valued at $275 million (c. €184m). The seller was represented by Strategic Real Estate Advisors and Falcon Real Estate.
Located at the corner of Rodeo Drive and Wilshire Boulevard, the property is a world-renowned luxury shopping, dining and lifestyle destination featuring 129,000 ft² of prime retail space. Tenants include Tiffany & Co., Versace, Jimmy Choo, Rene Caovilla, Damiani, Cole Haan, Jose Eber and other world-renowned fashion brands, as well as high-end restaurants and salon services.
The European-styled Two Rodeo was completed in 1990 and since then has been the 'crown jewel' of the Beverly Hills shopping district.
"This is an extraordinary property located in one of the most desirable retail locations in the world," says Algermissen, a senior director based in Cushman & Wakefield's Los Angeles Downtown office.
Source: Cushman & Wakefield