Bebe HQ sells to law firm after falling out of escrow

Elkins Kalt Weintraub Reuben Gartside paying $28.5M for Century City property

Los Angeles /
Jun.June 27, 2018 12:45 PM
Law firm exec Keith Elkins and Scott Kalt

After a failed attempt to sell last year, Bebe Stores Inc. has agreed to unload its headquarters in Century City to a law firm.

Elkins Kalt Weintraub Reuben Gartside LLP agreed to pay $28.5 million for the 46,700-square-foot property at 10345 W. Olympic Boulevard, according to the Los Angeles Business Journal.

The sale comes nearly a year after Monday Properties fell out of its $35 million escrow on the property, The Real Deal previously reported.

The law firm will be relocating in early 2019 from the nearby Century Plaza Towers and moving into the Bebe property, which it plans to renovate.

Jeffrey Resnick and Andrew Gharibian of First Property brokered the deal.

Bebe paid $11.9 million for the building in 2004, according to records.

Like many retailers nationwide, the women’s fashion brand has been struggling to keep up amid the wave of online shopping. Last year, the company announced it would be closing all 168 of its stores as it pivots to focus on e-commerce. It also unloaded a distribution center in Benicia last year for $22 million.

In July Bebe attempted to sell its headquarters, built in 1989, to New York-based Monday Properties for $35 million, or $750 per square foot, in July. The deal fell out of escrow in October after the firm failed to come to terms with Bebe. [LABJ] – Natalie Hoberman


Related Articles

arrow_forward_ios
GI Partners' Rick Magnuson and One Wilshire (GI Partners, One Wilshire)
Here’s how much tenants are paying at One Wilshire in DTLA
Here’s how much tenants are paying at One Wilshire in DTLA
Link Logistics' Luke Petherbridge with 5200 Sheila Street (Link Logistics, iStock)
Aerospace outfit leases 115K sf warehouse in Commerce
Aerospace outfit leases 115K sf warehouse in Commerce
Bicycle Hotel and Casino (google Maps, iStock)
Investor scores $210M for Bell Gardens casino deal
Investor scores $210M for Bell Gardens casino deal
Dollinger Properties' Dave Dollinger and Plaza at Golden Valley mall (Crexi, Getty Images)
$54M for Santa Clarita retail center
$54M for Santa Clarita retail center
1633 Victory Boulevard, Glendale and Senior Planner at City of Glendale Dennis Joe (Google Maps, LinkedIn)
New owner wants to enlarge controversial Glendale hotel project
New owner wants to enlarge controversial Glendale hotel project
Coretrust Capital Partners' Thomas Ricci, Randall Scott and John Sischo; 444 S. Flower Street, Los Angeles (444 South Flower, iStock, Coretrust Capital Partners)
Coretrust leases 44K sf of offices to law firms in DTLA
Coretrust leases 44K sf of offices to law firms in DTLA
80 South Street (Wikipedia)
Oceanwide Plaza in DTLA last U.S. project standing for China-based developer
Oceanwide Plaza in DTLA last U.S. project standing for China-based developer
Steve Soboroff and U.S. Rep. Karen Bass (Getty)
Soboroff endorses Bass
Soboroff endorses Bass
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...