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Beverly Hills, Calif., parcels with commercial zoning on the block for $100M

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Beverly Hills, Calif., parcels with commercial zoning on the block for $100M

Four contiguous property parcels in Beverly Hills, Calif.'s Golden Triangle that could accommodate a 57,000-square-foot, mixed-use commercial development are on the market for a combined $100 million, The Real Deal reported.

The landlord is Umberto Savone, who has pieced together the 50-foot parcels over decades along with his wife, the report said, citing property records.

The Canon Drive properties currently house Umberto's hair salon and three restaurants. According to marketing materials, zoning at the site allows a three-story building with underground parking, the Oct. 12 report said.

Jason Oppenheim of Oppenheim Group, who has the listing, expects an institutional or private investor to build on the commercial site, the report noted.