Bijan store sold to Louis Vuitton parent company for stratospheric $19K psf
August 26, 2016 08:30AMPrint
When the sale of Bjan made news last month, industry insiders knew it was a record breaker, but not the extent of it, nor the buyer.
The iconic yellow Rodeo Drive store sold for $122 million to the parent company of Louis Vuitton, LVMH Moet Hennessy Louis Vuitton, according to CoStar.
Thatb s a whopping $19,405 per square foot for the 6,287-square-foot store, significantly pricier than Chanelb s storefront down the road, which the fashion house bought for $13,217 per square foot last year.
The seller, according to CoStar, was the Brooks Caddell Barton Trust and Dominium Management. They were represented by HFFb s Bryan Ley, Marc Schillinger, and Bill Fishel.
Properties on Rodeo Drive rarely sell, JLL broker Houman Mahboubi told the L.A. Business Journal last month. Thatb s why, he said, b the value only goes up.b [LABJ] b Cathaleen Chen