REBusinessOnline

Cruzan, Cigna Investment Management Acquire 106,890 SF Office Building in Beverly Hills

9171-Wilshire-Dr-Beverly-Hills-CA

Located at 9171 Wilshire Drive in Beverly Hills, Calif., the 106,890-square-foot office building was 83 percent occupied at the time of sale.

BEVERLY HILLS, CALIF. — A joint venture between Cruzan and Cigna Investment Management has purchased an office building located at 9171 Wilshire Drive in Beverly Hills. An undisclosed seller sold the property for $69.2 million. At the time of sale, the six-story, 106,890-square-foot building was 83 percent occupied. Current tenants include Avalon Holdings, Kaplan Perrone Entertainment and Mejia & Kaplan. The buyer plans to renovate the building.

Andrew Harper, Matthew Fisher and Ryan Gallagher of HFF represented the seller and procured the buyer in the deal. Additionally, Paul Brindley, Todd Sugimoto, Steven Paskover and Ryan Ashe, also of HFF, arranged a $51.5 million acquisition loan through Mesa West Capital for the buyer.

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