Located within the state of California in Los Angeles County, Beverly Hills has gained a reputation as being one of the more popular attractions for both local residents and tourists alike. Thanks to a bustling retail and commercial infrastructure, as well as a high degree of affluence and opulence, Beverly Hills is the perfect location for business owners seeking to engage with a high-class client base for whom expensive goods are considered more of a ‘norm’ than a luxury. Rental properties for lease in Beverly Hills, such as office space for rent and commercial space for rent, will likely be noticeably more expensive here than other areas of the city. That being said, properties found within the various neighborhood zones of Beverly Hills are perfectly positioned for future growth and development.
Benefitting greatly from the presence of a thriving retail infrastructure, the city of Beverly Hills currently hosts a number of large employers, all of whom have helped to ensure that this area of the Greater Los Angeles region remains vibrant and active. Notable examples of larger employers in the Beverly HIlls area include The Beverly Hilton, Saks & Co., the William Morris Agency, the City of Beverly Hills, and the Endeavor Talent Agency. According to recent surveys, the median household income level of Beverly Hills is nearly $90,000. It is estimated that 7.8% of the local population currently lives below the national poverty line.
The history of Beverly Hills is largely tied to developments within the greater Los Angeles area as a whole. In 1911, construction began on the now iconic Beverly Hills hotel under the leadership of Burton Green. In 1925, the residents of Beverly Hills approved a decisive bond issue which led to the purchase of 385 acres of land which would later be transformed into what is now the UCLA campus. The combination of affluent living and student activity in Beverly Hills has created a unique environment that visitors, locals and business owners will be hard pressed to find in other areas of the state. Demographically, Beverly Hills is largely homogenous, with the vast majority of residents representing the Caucasian ethnicity.
As could be expected, the high degree of affluence in Beverly Hills helps to guarantee that retail establishments establishing a base of operations here will enjoy a consistent stream of pedestrian and tourist activity, regardless of their precise location. Those hoping to catch the eye of student traffic may wish to position their enterprises on the border of the area in close proximity to UCLA, the University of California, Los Angeles.