Headlines

Chanel Sets Price Record for Rodeo Drive Retail Space

Beats record for most expensive real estate acquisition in area

Published

8 years ago

December 10, 2015

Chanel (Paris) has purchased the most expensive retail real estate on Rodeo Drive in Beverly Hills, Calif., surpassing previous record prices. The company purchased the property it was leasing for its Beverly Hills flagship for $152 million or $13,217 per square foot.

The Los Angeles Times reports that Chanel’s purchase is a move to join the location with another property the company owns next door to create a larger retail space.

Prior to the sale, the record for most expensive real estate sale in the Rodeo Drive area was when LVMH (Paris) bought property for $85 million or $11,971 per square foot.

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