Owned by the Wallace Family Trust, the building at 130 S. El Camino Drive in Beverly Hills, Calif. was sold to an undisclosed buyer for $10.4 million. Translating to just under $1,150 per square foot, this represents the highest historical per square foot sales price for office space in Beverly Hills.Joshua Meltzer and Bryan Norcott of global commercial real estate services firm Studley represented the seller in the transaction.

The two-story, 9,046-square-foot building, unoccupied at the time of the sale, formerly housed the offices of Merv Griffin.Built in 1951 and extensively renovated in 2012, the building is located across the street from the Beverly Wilshire Hotel and in close proximity to Rodeo Drive.“The property’s valued location in the heart of Beverly Hills, combined with an improving economic and real estate climate, pushed the price of the building to record levels,” said Meltzer.The Wallace Family Trust purchased the building in 2009. Greg Moore of Keller Williams Realty represented the buyer in the transaction.