Tishman Takes Former Hilton HQ
- Jan 26, 2011
January 26, 2011
By Allison Landa, News Editor
Real estate development and investment firm Tishman Speyer is increasing its presence in Beverly Hills, where it has acquired the former Hilton Hotels Corp. headquarters property.
Located at 9336-9346 Civic Center Drive adjacent to the Beverly Hills City Hall, the Class A property consists of two four-story buildings totaling 185,000 square feet. The buildings sit on 2.6 acres and are connected by a skybridge. They are within walking distance of the well-known Rodeo Drive shopping district.
Completed in 1985, the property underwent renovations between 2004 and 2008. When Hilton moved its corporate offices to northern Virginia in 2009, they became vacant.
According to Tishman senior managing director John Miller, the acquisition was a rare chance to own a headquarters-quality facility in a renowned location. He asserted that the office sector is showing improvement and that the firm expects to successfully market the property.
Tishman’s other Beverly Hills holdings include Beverly Mercedes Place, 407 N. Maple and Maple Plaza.