Overview
- The adjoining parcels total about 25,000 square feet at 338 N. Rodeo Drive and include storefronts leased to Tom Ford, Balenciaga and Moncler.
- Existing tenant leases run for several more years, leaving Hermès' immediate plans for the site unspecified.
- CBRE calls the acquisition the most expensive Beverly Hills retail deal since the early 2000s.
- Broker Jay Luchs of Newmark says luxury houses are increasingly buying their real estate and enlarging flagship footprints.
- CBRE’s Houman Mahboubi reports only one storefront is available for long‑term lease on Rodeo Drive, with strong demand pushing values higher.