Wilshire Rodeo Plaza in Beverly Hills could fetch $350M in bids

Nuveen Real Estate is marketing the property and 2 others

TRD LOS ANGELES /
Feb.February 28, 2019 02:00 PM
Nuveen CEO Mike Sales and 9536 Wilshire Boulevard (Credit: LoopNet)

Nuveen Real Estate, hot on the heels of an industrial portfolio purchase, is looking to unload some of its commercial assets.

The firm is marketing the Wilshire Rodeo Plaza in the prime Beverly Hills Triangle for sale for $350 million, The Real Deal confirmed. It’s also seeking to sell two other West Coast properties in Seattle and San Francisco.

In L.A., Nuveen is shopping the 262,000-square-foot complex at 9536 Wilshire Boulevard. It includes a 178,000-square-foot, five-story structure, as well as a smaller 84,000-square-foot, three-story building.

Tenants at the site include UBS, Merrill Lynch and talent agency William Morris Endeavor.

Real Estate Alert first reported the news.

TIAA Financial Services, which acquired Nuveen in 2014, paid $193.6 million for the property in 2006, property records show. TIAA renamed its asset management division to Nuveen in 2017.

Nuveen is also selling a 40-story skyscraper, dubbed Fourth & Madison, in Seattle for $625 million. And it’s marketing the KPMG Building in San Francisco for $400 million.

Combined, the three properties could fetch $1.4 billion.

Earlier this week, Nuveen paid $136 million to Colony Capital to acquire a light industrial portfolio. The bulk of the 34 properties are based in Atlanta, with others found in New Jersey, Texas and Pennsylvania.

The firm is a massive global investment manager, with $125 billion of real estate assets under management.


Related Articles

arrow_forward_ios
Bernard Arnault and a map of the properties (Credit: ERIC PIERMONT/AFP via Getty Images, and Google Maps)

LVMH picks up another Beverly Hills storefront near hotel development site

LVMH picks up another Beverly Hills storefront near hotel development site
LeBron James and the home at 9955 Beverly Grove Dr.

Another palace for the king: LeBron James buys Beverly Hills mansion: sources

Another palace for the king: LeBron James buys Beverly Hills mansion: sources
Stuart Rubin and his Beverly Hills mansion at 715 N. Alpine Drive (Credit: Google Maps)

This Beverly Hills mansion auction was set for April. What could go wrong?

This Beverly Hills mansion auction was set for April. What could go wrong?
The Hearst mansion's fate is tied into bankruptcy court. (Credit: Istock)

Hearst mansion owner’s bankrupt LLC got a $150K federal bailout

Hearst mansion owner’s bankrupt LLC got a $150K federal bailout
Beny Alagem of Alagem Capital and renderings of the new design (Credit: DBOX for Alagem Capital Group via Los Angeles Times)

Beny Alagem’s new $2B One Beverly Hills design is loaded with gardens

Beny Alagem’s new $2B One Beverly Hills design is loaded with gardens
Two of the priciest home sales last week (Credit: Google Maps)

Beverly Hills tallies 3 priciest residential sales of week in LA

Beverly Hills tallies 3 priciest residential sales of week in LA
David Geffen, Casey Wasserman, and the property (Credit: Larry French, Paul Bruinooge/Patrick McMullan via Getty Images, and NearMap via Los Angeles Times)

David Geffen pays $68M for Casey Wasserman’s Beverly Hills manse

David Geffen pays $68M for Casey Wasserman’s Beverly Hills manse
Lauren Sanchez and Jeff Bezos with the property at 1441 Angelo Drive (Credit: Getty Images and Redfin)

A $90 million patch of dirt: A look at Jeff Bezos’ other record LA deal this week

A $90 million patch of dirt: A look at Jeff Bezos’ other record LA deal this week
arrow_forward_ios

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

Loading...