BEVERLY HILLS, CALIF. – Jenel Management Corp. has acquired a 26,500-square-foot office building in Beverly Hills for $47.2 million. The building is located at 461-469 N. Beverly Drive, within the Beverly Hills Triangle.
The former Bank of America building was fully redesigned in 1995 by Richard Meir and the Paley Center for Media, which previously was known as the Museum of Television and Radio. It is situated on the southwest corner of North Beverly Drive and Little Santa Monica.
Jenel Management was represented by John Bertram of Savills Studley. The seller in this all-cash transaction was composed of several trusts representing several generations of the original business partners who had initially purchased this property in the 1920s from Burton Green. At the time, the space served as the buyers’ lumber company headquarters.
The seller was represented by Chris Holland and Patrick Sheekey of Coldwell Banker Commercial WESTMAC.