- Kilroy Realty Corp. has purchased Maple Plaza in Beverly Hills for $205M, or $707 PSF, from Tishman Speyer.
- The sale price is more than double what Tishman Speyer paid for the property two decades ago, underscoring continued investor appetite for top-tier office space in premier locations.
- The deal marks the largest office sale in West Los Angeles in Q2 2025, significantly outpacing the $150M Playa Vista transaction at $512 PSF.
- Beverly Hills remains resilient despite elevated office vacancy rates elsewhere in Los Angeles, including a 22% vacancy rate in the West LA submarket and nearly 33% downtown.
Prime Real Estate, Premium Price
Tishman Speyer has completed the sale of Maple Plaza in Beverly Hills, reports Bloomberg. Kilroy Realty Corp. acquired the office building for approximately $205M. The deal, at $707 PSF, is one of the priciest in Los Angeles in recent quarters. It illustrates the enduring value of Class A office assets in highly desirable submarkets.
A Rare Opportunity
Kilroy CEO Angela Aman described the acquisition as a “unique opportunity” to enter the supply-constrained Beverly Hills office market. She added that the purchase came at a substantial discount to estimated replacement cost. Despite broader challenges in LA’s office market, Beverly Hills remains an outlier, offering stability and prestige.
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Tishman’s Strategy
Tishman Speyer has been active in shedding Beverly Hills assets recently. The company sold another Maple Avenue building to Fashion Nova for nearly $120M last year. It also sold a Beverly Boulevard office for $90M in December 2024. These transactions, according to Tishman executive Ryan Botjer, align with the firm’s strategy to capitalize on demand for high-quality office environments in top-tier markets.
Context Matters
While many LA office markets continue to struggle with high vacancies, Beverly Hills stands out. With West LA vacancies at 22% and downtown nearing 33%, investors are targeting well-located, prestige assets where fundamentals are stronger.
Why It Matters
This deal reinforces the growing gap between trophy asset demand and the broader office market downturn. As companies rethink their space needs post-pandemic, core submarkets like Beverly Hills are attracting capital. Their scarcity, desirability, and long-term value potential are driving premium pricing.
What’s Next
Expect more targeted investment in top-tier submarkets. Institutional buyers like Kilroy are seeking stability amid uncertain office market conditions. While broader distress lingers, prime locations with quality assets remain investor favorites in LA and beyond.
