Investors have placed at least three bids in the neighborhood of $97 million, or $345/sf, for Maple Plaza, an underperforming office property at 335-345 North Maple Drive in Beverly Hills

Real Estate Alert, March 31, 2004

Investors have placed at least three bids in the neighborhood of $97 million, or $345/sf, for Maple Plaza, an underperforming office property at 335-345 North Maple Drive in Beverly Hills. At that price, the buyer's initial annual yield would be less than 5%. The stabilized yield would be 7%. The 281,000-sf property is 72% occupied.

Cushman & Wakefield and Secured Capital are handling marketing for owner David Wilstein. Wilstein might retain a stake in the property.