LOS ANGELES – July 2, 2013 -- CIM Group today announced that it has sold a two-building office complex located at 150 -151 El Camino Drive in Beverly Hills’ prestigious Golden Triangle district. CIM acquired the two three-story buildings totaling approximately 127,141 gross square feet in December 2011 having identified the opportunity to secure a premier property in a consistently high demand, high barrier-to-entry market.
As the greater Los Angeles commercial real estate market has improved, Beverly Hills has benefited. The city appeals to a variety of creative, professional, and service businesses, which has made it one of the top Westside office markets with low vacancy, high demand, and strong property values.
Situated just south of Wilshire Boulevard in the heart of Beverly Hills, the 150-151 El Camino Drive office buildings are in close proximity to world-class hotels, retailers, restaurants and other highly desirable amenities. The building offers ample on-site parking with 379 spaces, and its large floor plates allow for flexible space configurations to accommodate tenants of different sizes and industries, including as a corporate headquarters. Additionally, there are few premier locations in which the entire building is available, which makes 150-151 El Camino Drive ideally suited for companies seeking the security and exclusivity that these buildings currently offer.
About CIM Group
CIM Group is a leading real estate and infrastructure investment firm that since 1994 has systematically and successfully invested in dynamic and densely populated communities throughout North America. CIM Group draws on its experienced team of real estate, investment and finance professionals to identify and pursue investment opportunities in three primary strategic categories: repositioning and development projects in established and emerging urban areas; well-positioned operating properties in transitional and established districts; and infrastructure. CIM manages three distinct portfolios, including opportunistic, stabilized and infrastructure funds, each of which are diversified by geography and type of property within that risk profile. Headquartered in Los Angeles, CIM maintains regional offices in New York, the San Francisco Bay Area and Bethesda, Maryland. For more information, please visit www.cimgroup.com