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Amancio Ortega
Zara founder buys Gucci building on Rodeo Drive for $100 million
Zara founder buys Gucci building on Rodeo Drive for $100 million

The building housing the expansive Gucci store on Rodeo Drive has sold for more than $100 million to a Spanish fashion mogul. Gucci, the famous upmarket Italian fashion house, is the sole tenant of the three-story building in the heart of the famed shopping district in Beverly Hills. The sale was announced by real estate brokerages Cushman & Wakefield and Colliers International, which did not disclose the identity of the buyer or the price. PHOTOS: Rodeo Drive over the years Real estate experts familiar with the Rodeo Drive property market said the new owner is Amancio Ortega, who paid Los Angeles landlord the Festival Cos. more than $100 million for the 12,250-square-foot...

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