"End of an era? Maybe. Hilton & Hyland's sign has come off the Standard Oil building in Beverly Hills, with the high-end brokerage beginning a move to smaller offices within the city. The relocation comes after the company's soon-to-be former landlord, Standard Oil Investment Group, took the brokerage to court over more than $650,000 in back rent and over $65,000 in late fees before asking a judge to toss the complaint last month."
"Despite the now-settled court drama, Hilton & Hyland Chair Lori Hyland told The Real Deal in a call Wednesday the move has nothing to do with the court case. We have a very good relationship [with the landlord] and it has absolutely nothing to do with our business, she said of the decision to relocate. She also slammed market chatter earlier this year that placed the brokerage on the sales block, waving off any consideration of a future deal."
"The move could serve as a fresh start for the brokerage, which had inked a 10-year lease for 15,000 square feet at the Standard Oil Building at 257 North Canon Drive in 2015. It moved into the building three years later. Hyland said she expects the business to be shifted over to its new location at Maple Plaza at 345 North Maple Drive, and at full operations by Monday. The move shrinks Hilton & Hyland's footprint to about 5,000 square feet."
Hilton & Hyland has removed its sign from the Standard Oil Building in Beverly Hills and is relocating to smaller offices at Maple Plaza, 345 North Maple Drive, with full operations expected by Monday. The relocation follows a landlord lawsuit alleging more than $650,000 in back rent and over $65,000 in late fees that was later withdrawn. The brokerage signed a 10-year, 15,000-square-foot lease at 257 North Canon Drive in 2015 and moved in 2018; the new office reduces the footprint to about 5,000 square feet. The brokerage's roster has shrunk from over 100 agents and staff after years of departures.
Read at therealdeal.com
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