KWP has managed Beverly Palm Plaza for 20 years through one change of ownership, a disposition brokered by the KWP investment sale team in 2024.
The fully-leased neighborhood retail center at 9150-9198 Olympic Blvd. is a generational trophy asset in the high barrier to entry market of Beverly Hills. The multi-tenant property features a mix of credit tenancy with Supercuts and Domino’s Pizza along with local favorites such as Sushi Sasabune, Bodhi Thai, Crazy Fish, Traveling Tikes and Zeglio Custom Clothier. The property was sold by President Ed Sachse and Assistant Vice Presidents Kyle Fishburn and Jack Nathan on behalf of DSC America, Inc., and purchased by Naimi Management who retained KWP as property manager.
“Beverly Palm Plaza is an extremely attractive asset from an investor perspective for several reasons,” said Sachse. “There is a straightforward value-add component as below-market leases come up for renewal, long-term redevelopment potential, and its location in the city of Beverly Hills allows the buyer and seller to avoid ULA transfer tax.”
Retail sales in Beverly Hills are infrequent and only 4 properties traded hands in 2023, according to CoStar. Beverly Palm Plaza traded at $1,088 per square foot, 7.8% above CoStar’s average modeled market price of $1,010 PSF.
