Fashion Nova acquires new Beverly Hills headquarters for $118 million in an off-market, all-cash deal

Online retailer Fashion Nova just got a sharp new headquarters in California, the company announced via email this week.

Richard Saghian, the founder and CEO of the fast-fashion company, bought the 175,000-square-foot Beverly Hills building in an off-market, cash deal from real estate corporation Tishman Speyer, The Post has learned.

The Real Deal reported that Fashion Nova spent about $675 per square foot, for a total of $118 million on the property, which is located at 407 North Maple Drive.

Tishman Speyer confirmed the sale to The Post, noting that the transaction is likely to be completed by the end of the week.

“The acquisition of our new headquarters marks an important milestone for Fashion Nova, reflecting our continued growth and commitment to expanding our presence in the fashion industry,” said Saghian — whose other real estate holdings include LA’s largest mansion, “The One.” After development. “This state-of-the-art facility not only provides us with ample room for growth, but also embodies the vibrant and innovative spirit that drives the brand.”

As for how he settled on 407 North Maple Drive, he noted that he is “particularly excited about the building’s modern design and its strategic location, which aligns perfectly with our vision to remain in front of fashion and culture”.

“Fashion Nova HQ,” as the four-story building has been renamed, was designed by the architecture firm of Gwathmey Seigel & Associates — and features a two-story glass storefront, an atrium skybridge, a sunroom, multiple outdoor terraces and three floors of value underground parking, for a total of about 480 cars.

In addition to serving as the company headquarters and an office for Fashion Nova’s 500+ employees, the building will also host the Nova Social Club, “a private, invite-only co-working space for creatives, influencers, celebrities and VIP guests.” . where the brand’s inner circle can enjoy curated amenities and bespoke partnerships,” according to press materials.

Nova Social Club will offer a variety of amenities including a fitness studio, a wellness spa, podcast studio, a screening room, a meditation garden, a showroom and more.