Tishman Speyer Sells 9242 Beverly Blvd. to Envision and Faring for $90M

Tishman Speyer sold 9242 Beverly Blvd. in Beverly Hills to Envision and Faring for $90 million, or $675 per square foot. The 133,000-square-foot building located along Santa Monica Boulevard was acquired by Tishman Speyer in 2005 for $38 million and was subsequently leased as a Mercedes-Benz dealership.

The building was originally built in 1990 and has LEED Platinum certification, which indicates the highest level of sustainability for the rating system.

“This transaction demonstrates the success of our investment strategy at 9242 Beverly,” said Paul Galiano, senior managing director of Tishman Speyer, in a statement. “It is a testament to the high-quality environment we cultivated at the building, which continues to draw companies seeking inspiring office space in the heart of Beverly Hills,” he said.

This sale marks the second large transaction in Beverly Hills for Tishman Speyer within the past six months. In August, it sold 407 N. Maple Drive to apparel and lifestyle brand Fashion Nova for $119.7 million.