Beverly Boulevard deal.

Beverly Harper LLC, a local real estate investment group, has purchased the Beverly Boulevard photography studio of photographer Greg Gorman for $3.95 million in a deal that closed May 1.

Gorman's 4,661-square foot, two-story building includes a 1,500 square-foot circular studio that would be prime restaurant or retail space should the group decide to change the use of the property at 8275 Beverly Blvd.

The deal closed May 1 and breaks down to $847 per foot, said Jack Ravan, Beverly Harper managing member and president of commercial real estate firm South Park Group Inc. He said that his firm will rent the studio space out to photographers and event planners while he and his associates decide what to do.

Beverly Harper already owns several parcels on Beverly Boulevard between Sweetzer Avenue and Harper Avenue, including a mixed-use project across the street that includes four apartments and retail apace and should open this summer. Ravan said the building is in a neighborhood with great potential for development.

"We love the architecture and the fact that it is on a corner and in an area that has tremendous potential for retailers," he said.

The studio portion of the building features 25-foot high ceilings and fronts the boulevard. Possible plans would include installing windows in that space and creating a grand entrance, said Steve Ravan, assistant vice president at South Park Group, who represented Beverly Harper in the deal and is the nephew of Jack Ravan.

Gorman was represented by Chris Bonbright and Glenn Melnick of Ramsey-Shilling Commercial Real Estate Services.

Staff reporter Daniel Miller can be reached at [phone], ext. 263, or [e-mail].