Tishman Speyer Announces 15-Year Lease Renewal at Beverly Hills Property | Announcements | Tishman Speyer

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Tishman Speyer Announces 15-Year Lease Renewal at Beverly Hills Property

Beverly Hills, CA July 28, 2010

Tishman Speyer announced today that Miller-DM, Inc., which operates as Mercedes-Benz of Beverly Hills, has signed a 15-year lease renewal for 60,894 square feet of office, showroom and other space at Beverly Mercedes Place in Beverly Hills. The lease transaction retains the region’s premier Mercedes-Benz auto dealer at the same prime location where it has been since 1990.

Beverly Mercedes Place is a three-story office building located on Beverly Boulevard in the heart of Beverly Hills, one of the world’s most affluent and well-known cities and home to some of the finest shopping and dining in the country, including the nearby world-famous Rodeo Drive. Completed in 1990, the property totals 130,000 square feet and offers its tenants great views of the Hollywood Hills, Century City and downtown Los Angeles. The building also has a three-level, below-grade parking structure.

The property is managed by Tishman Speyer on behalf of the Australia-based Tishman Speyer Office Fund. In addition to Beverly Mercedes Place, Tishman Speyer Office Fund owns two adjacent trophy office buildings, for a total of nearly 600,000 square feet in its Beverly Hills portfolio.

Jonathan Larsen of Transwestern represented the tenant in the lease transaction announced today. Mark Laderman and Paul DeMartini represented the building’s ownership.

About Tishman Speyer (www.tishmanspeyer.com)

Tishman Speyer is one of the leading owners, developers, operators and fund managers of first-class real estate in the world. Since 1978, Tishman Speyer has acquired, developed and operated over 325 projects totaling over 116 million square feet and a property portfolio of over US$54.2 billion in total value across the United States, Europe, Latin America and Asia, including signature properties such as New York’s Rockefeller Center and Chrysler Center, Berlin’s Sony Center, and Torre Norte in São Paulo, Brazil.