Bebe HQ sells to law firm after falling out of escrow

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

TRD 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
Michael Rosenfeld and a rendering of Century Plaza (Credit: Presley Ann/Getty Images for THR)

Inside Michael Rosenfeld’s $1.8B odyssey at Century Plaza

Inside Michael Rosenfeld’s $1.8B odyssey at Century Plaza
Carson Mayor Albert Robles and a rendering of the proposed project (Credit: The city of Carson)

Simon-Macerich mall project in Carson sparks latest legal claim

Simon-Macerich mall project in Carson sparks latest legal claim
Alicia Silverstone from the film 'Clueless', 1995, and a rendering of the Beverly Center (Credit: Paramount Pictures/Getty Images, and Beverly Center via Los Angeles Times)

For LA’s malls, lawsuits could be the next crisis

For LA’s malls, lawsuits could be the next crisis
Baldwin Hills-Crenshaw Plaza mall and CIM co-founder Avi Shemesh

CIM Group backs out of mall buy after community backlash

CIM Group backs out of mall buy after community backlash
The Egyptian theater (Credit: iStock)

LA movie theaters will soon reopen, but they won’t be the same

LA movie theaters will soon reopen, but they won’t be the same
From left: Bill Shopoff, Sandy Sigal, and David Simon

Payment Gap: Retailers are reopening, but many aren’t paying rent

Payment Gap: Retailers are reopening, but many aren’t paying rent
Joshua Golcheh

The way out: Developer cites coronavirus in suit to exit OC shopping center deal

The way out: Developer cites coronavirus in suit to exit OC shopping center deal
Rick Caruso, the Grove mall (Credit: Donato Sardella/Getty Images, and CARUSO)

If you clean it, will they come? Rick Caruso’s visible plan to reopen malls & resorts

If you clean it, will they come? Rick Caruso’s visible plan to reopen malls & resorts
arrow_forward_ios

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

Loading...