Anderson Sells Beverly Hills Real Estate

A pair of adjacent properties in the Golden Triangle of Beverly Hills has traded hands for about $25 million, a deal that sets a recent high-water mark of roughly $1,500 per square foot, according to property records dated early January.

The deal involves legacy wealth and newer found fortune in Los Angeles. The seller is connected to Anderson Real Estate, a private, family-owned real estate company. Anderson Real Estate is linked to Topa Equities — founded by late billionaire and Los Angeles businessman John Anderson, who has a University of California, Los Angeles, school named after him. The buyer is connected to David Mirharooni, a real estate investor via his Brickstar Capital, business records reveal.

Mirharooni, who was chair of the Beverly Hills Chamber of Commerce, declined to comment. Anderson Real Estate did not immediately respond to a request for comment.

The Golden Triangle trade encompasses two adjacent buildings that combine for about 16,400 feet at 202 North Canon Drive, a one-story home to Rodeo Realty, and 208 North Canon Drive, which can be used for office or retail. Newmark’s Jay Luchs and Gavin Ketchum brokered the off-market transaction; Luchs confirmed the trade.

A person familiar with the matter said the buy isn’t necessarily an office play, and the new owner might want to eventually tap its retail use.

Beverly Hills prices fall into a different category for retail located directly on the famed high-end shopping strip of Rodeo Drive, where a property leased to Tom Ford, Moncler and Balenciaga sold for $400 million-plus, which amounted to more than $14,000 per square foot.

The deal on Canon is nevertheless pricey given its location and the current office market conditions in areas beyond Rodeo. It commanded more on a square-footage basis than publicly traded real estate investment trust Kilroy Realty’s $200 million-plus Beverly Hills office campus buy from Tishman Speyer last year, which came to around $700 per square foot. Mirharooni’s deal is also pricier per square foot than Alo Yoga’s $90 million purchase of a Beverly Hills headquarters that came out to almost $1,100 a square foot late last year.

Brickstar Capital’s Mirharooni and Daniel Mirharooni recently made another Beverly Hills buy: a retail property on South Robertson Boulevard for almost $8 million, or $985 per square foot, Traded L.A. reported. The Mirharoonis own Mastro’s on Canon Drive.

Anderson Real Estate, chaired by Patrick Haden, owns properties throughout the city, including two office towers on Century City’s Avenue of the Stars and another in Beverly Hills’ Golden Triangle on Wilshire Boulevard.