Standard oil building sold.

Another Los Angeles landmark also has changed hands, with Hertz Investment Group selling downtown's Standard Oil Building to the owners of Los Angeles-based Bisou Bisou women's fashion line for $20 million.

This nine-story Beaux Arts-style building at 605 Olympic Blvd. was designed by architect George W. Kelham in 1928 as the oil company's regional headquarters, and was designated an L.A. Historic Cultural Monument in 1988. Hertz acquired the 100,000-square-foot building in 1999.

With the Fashion Institute of Design & Merchandising as the building's primary tenant, Bisou Bisou co-owner Marc Bohbot said he and wife Michelle were as much attracted to potential creative synergies of relocating their corporate headquarters to the seventh floor as they were enchanted by the historic building's open spiral stairwells and brass mail drops.

"We really loved the detail and the vibe of that building, as well as the investment opportunity," said Bohbot, whose company licenses and designs French-influenced women's clothing and accessories under the Bisou Bisou name for JC Penney. Bohbot said he negotiated the sale directly with Hertz Investment Chief Executive Judah Hertz, a longtime acquaintance.

In addition to fashion, the Bohbots also are engaged in several real estate investment ventures, including a proposed condo-retail-office complex on Canon Drive in Beverly Hills adjacent to the future Montage Hotel.