BEVERLY HILLS, CA—A 9,046-square-foot office building at 130 S. El Camino Dr. owned by the Wallace Family Trust has sold for $10.4 million. The price translates to $1,150 per square foot, which the seller claims is the highest sales price ever per square foot for office space in Beverly Hills.

The buyer was not identified. Joshua Meltzer and Bryan Norcott of Studley real estate represented the seller. Greg Moore of Keller Williams Realty represented the buyer in the transaction.

The two-story building was unoccupied at the time of the sale. It formerly housed the offices of TV personality and singer Merv Griffin.

Built in 1951 and renovated last year, the building is located across the street from the Beverly Wilshire Hotel and near Rodeo Drive. The Wallace Family Trust purchased the building in 2009.

“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 a statement from Meltzer.

Studley was founded in 1954 and has 24 offices nationwide. It also has an international presence through AOS Studley, a partnership with Paris-based AOS.

As reported earlier by GlobeSt.com, the Orange County office of Studley recently added a new key executive.