Los Angeles
Skanska building its first ground-up LA development
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FanDuel bets on Beverly Hills with sporty $71M office buy
Gambling platform pays $1,410 psf, or four times the average price in SoCal
Gambling platform FanDuel has bought a 50,200-square-foot office building in Beverly Hills for $71 million.
The sports betting website, a New York unit of Ireland-based Flutter Entertainment, purchased the three-story building at 9000 Wilshire Boulevard, the Commercial Observer reported. The seller was Skanska USA, a New York division of Skanska, based in Sweden.
The deal works out to $1,410 per square foot, which is more than four times the average office sale price in Southern California.
Skanska USA broke ground on the office complex in 2020, and completed it last year. The slate-blue building, which includes an 11,000-square-foot roof deck and lounge area, was the firm’s first ground-up commercial development in greater L.A.
The developer bought the shovel-ready site in 2019 for $18.2 million.
The building, designed by L.A.-based architect Neil M. Denari and HLW International, features floor-to-ceiling glass windows.
It replaced two retail buildings and a parking lot at the corner of Wilshire and Almont Drive.
Skanska has two other local projects in the pipeline, including a three-story, 43,900-square-foot office building at 8633 Wilshire Boulevard, and a 15-story, purple office tower at 1727-1829 East Sacramento Street in the Arts District of Downtown L.A.
— Dana Bartholomew
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