News Summary

Tishman Speyer has completed the sale of Maple Plaza, a prime office building in Beverly Hills, for $205.3 million. This transaction reflects the evolving commercial real estate market, marking the largest office investment sale in Los Angeles County in Q3. With significant appreciation since its purchase in 2005, the property has remained popular among diverse tenants. The buyer, Kilroy Realty, aims to leverage the highly sought-after Beverly Hills area while the local office vacancy rate continues to improve.

Beverly Hills

Tishman Speyer has sold Maple Plaza, a 293,000-square-foot Class A office building located at 345 N. Maple Drive in Beverly Hills, for $205.3 million. The sale price translates to approximately $707 per square foot and marks the largest office investment sale in Los Angeles County for the third quarter of the year, as well as the second largest sale of 2025. This move reflects the continually evolving dynamics of the commercial real estate market in the region.

The building, purchased by Tishman Speyer in 2005 for $101 million (or $344 per square foot), has seen significant appreciation in value over nearly two decades. Maple Plaza, which was constructed in 1987, spans three stories and is designed to include a fitness center complete with a yoga studio, in addition to its office spaces.

The transaction was facilitated by CBRE, with Stephen Somer serving as vice chair of CBRE’s capital markets team in Los Angeles. Currently, Maple Plaza is approximately 75% leased with 45,000 square feet leased within the past year. The building boasts a diverse range of tenants, including firms in private equity, professional services, and entertainment, as well as retail outlets like Goop Kitchen and Café Ruisseau.

This sale demonstrates Tishman Speyer’s active management strategy, as it marks the third office property that the company has sold in Beverly Hills within the past year. In December 2024, Tishman sold a property at 9242 Beverly Blvd for $90 million to Envision and Faring, and in August 2024, a property at 407 N. Maple Drive was sold to Fashion Nova for $119.7 million. These properties have experienced value increases of 136.5% and 66.5% respectively from their original purchase prices.

The buyer, Kilroy Realty Corp, based in Sawtelle, is making its first acquisition within the Beverly Hills submarket. The CEO of Kilroy Realty emphasized the area’s attractiveness, describing it as “highly sought-after and supply constrained” and one of the most vibrant commercial neighborhoods in Los Angeles. Maple Plaza itself has gone through renovations in 2017, which have contributed to its appeal.

The office investment market in Los Angeles is showing signs of recovery, as recent data from CBRE indicates a 37% increase in investment activity between the first and second quarters of the year. A national survey has shown that 70% of investors plan to increase acquisition activity this year. Notably, Stephen Somer commented on the competitive nature of the process, highlighting interest from multiple institutional and private investors in Maple Plaza.

The office vacancy rate in Beverly Hills has improved, decreasing from 18.5% to 15.5% over the past year. Maple Plaza offers flexible floor plates and includes amenities such as electric vehicle charging stations and views of the Hollywood Hills, making it an attractive option for potential tenants.

Moreover, the property is strategically located within walking distance of numerous dining and retail destinations along Santa Monica Boulevard and Rodeo Drive. Eliott Trencher, Kilroy’s chief investment officer, indicated that the team would prioritize establishing “a visible forward leasing pipeline” as a means to capture near-term growth opportunities.

Despite this significant sale, Tishman Speyer retains a portfolio of holdings in Southern California, which includes notable office campuses like The Brickyard and The Collective in Los Angeles, in addition to various residential and industrial projects.

Deeper Dive: News & Info About This Topic

HERE Resources

Additional Resources

• Los Angeles Business Journal
• Wikipedia: Beverly Hills, California
• CoStar
• Google Search: Beverly Hills commercial real estate
• Bloomberg
• Google Scholar: Beverly Hills office real estate
• Commercial Observer
• Encyclopedia Britannica: Beverly Hills
• Mansion Global
• Google News: Kilroy Realty Beverly Hills

Author: STAFF HERE BEVERLY HILLS WRITER

The Beverly Hills Staff Writer represents the experienced team at HEREBeverlyHills.com, your go-to source for actionable local news and information in Beverly Hills, Los Angeles County, and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as the Rodeo Drive Concours d'Elegance, the Beverly Hills artSHOW, Concerts on Canon, and holiday celebrations throughout the city. Our coverage extends to key organizations like the Beverly Hills Chamber of Commerce and Visit Beverly Hills, plus leading businesses in luxury fashion, hospitality, and entertainment that drive the local economy. As part of the broader HERE network, including HERELosAngeles.com, HERESantaAna.com, HEREHuntingtonBeach.com, and HERECostaMesa.com, we provide comprehensive, credible insights into Southern California's dynamic landscape.