Beverly Hills Building Sold

Chiyoda Trading of Tokyo, a real estate and import/export company, has purchased the Colonnade, a 28,000-square-foot office/retail building in the Golden Triangle area of Beverly Hills, for $16.5 million.

That figures out to about $550 a square foot, still a bargain in contrast with the $25,000 a square foot charged for office space in Tokyo, according to Cushman & Wakefield of California, which represented Chiyoda in the transaction. Chessire Gibson & Fowler represented the sellers.

The 4-year-old building at Camden Drive and Santa Monica Boulevard was sold by French Kier Development of Atlanta, a wholly owned subsidiary of Beazer Development Co. of London.