Commercial Real Estate Investment

Los Angeles Office Construction Report

LOS ANGELES OFFICE CONSTRUCTION REPORT Market Size: 405,859,462 SF Existing Available Space: 61,134,493 SF Space Under Construction: 3,369,527 SF Completed Construction in 2015: 1,924,821 SF Largest Project Under Construction: Office Plaza At Wilshire Grand; $1.2 Billion project: 356,141 SF Class A office space, 900 hotel rooms, 42,000 SF retail in Downtown LA. Being built by Korean Airlines Co Ltd. Largest Project Completed in 2015: Hollywood 959; Two building approx. 250,000 SF Class A creative office campus in Hollywood’s Media District. Built by JH Snyder...

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Below Market Commercial Lease Renewal

By: Forrest Blake Below market commercial lease renewals don’t happen by chance. Commercial tenants aren't given large quantities of free rent, tenant improvements and/or rental rate reductions because they paid their rent on time or ask nicely. There is a defined process to establish leverage with relocation options, collect information to gain leverage and close a deal that surprises even the best negotiators. Should I renew my lease or relocate? This choice must be made about every five years by tenants. The line of thinking is often difficult since it will have a material effect on the short...

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Leveraged Commercial Lease Negotiations

By: Forrest Blake Commercial leasing transaction success is not about doing deals, it is about working deals. Doing is a passive action of processing paperwork that almost always leaves good money on the table. Working a commercial real estate deal means digging in for a good fight that demands your total attention to get your best value. From today forward, I want you to approach every deal with a full commitment to create a comprehensive plan—one that constantly looks for leverage and strategy to satisfy your needs and get the deal done (the way you want). I measure a successful transaction...

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Commercial Office Space Creates Profits

By: Forrest Blake Over two decades I have made representing tenants in commercial real estate a major part of my professional life. I have always questioned the standard method of measuring the success of a commercial office lease transaction based on the rate-per-square-foot. If this was an accurate measurement, then all my professional service clients should have leased warehouse space in Commerce, CA at only $0.45 per square foot. Their rents would be cut by 75%, but likely the same percentage of staff would quit because of the poor working conditions. Yes, I am giving a dramatic example...

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Forrest Background

By: Forrest Blake Commercial Real Estate Expert Forrest Blake began his professional career as a stockbroker, then shortly thereafter segued into real estate, and in 1989 started to represent Commercial Tenants with their office leasing and building purchasing needs in Los Angeles. He saw an inherent conflict of interest in the commercial real estate business as other brokers represented both the landlords and tenants. At the beginning of his career he made the decision to represent only tenants. Blake has never taken listings or worked on behalf of landlords. Instead, he has made tenant representation...

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Art of the Commercial Real Estate Deal

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Speaking to the Northridge Chatsworth Rotary

On January 8th at lunch the Northridge Chatsworth Rotary gave me a chance to talk about Turn Around Management and Commercial Real Estate Leasing. Thank you for having me and I look forward to visiting your club again. Future event are scheduled at the Torrance Rotary on Tuesday the 29th of this month at noon and Pacific Palisades Rotary on April the 4th at 8:00 AM. Disclosure: Content is general information only. Information is not provided as advice for a specific matter, nor does its publication on this website create any relationship between the writer and the reader. Neither this website...

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Negotiations in Life and Commercial Real Estate

By Forrest Blake The rules to success have always focused on possessing great talent, dedication, education, and of course an enduring work ethic.  That is important, but the leaders are the people who not only are competent, but also have the ability to negotiate at the highest level.  We are negotiating every day with clients, bankers, vendors, supplies and even once every five years with our landlord. The day of a Qualified Tenant Rep consists of dealing with commercial real estate listing brokers and their landlords to negotiate the best office leasing transaction for my tenants. Opposition...

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Commercial Lease Terms T to Z

Disclosure: Content is general information only. Information is not provided as advice for a specific matter, nor does its publication create any relationship between the writer and the reader. Neither this website nor Forrest Blake is qualified, licensed or soliciting  to give commercial real estate broker, commercial real estate agent, Los Angeles tenant broker, commercial office space, legal or accounting advice on any subject. Please consult with your real estate broker, attorney or accountant regarding any of the concepts written on this website. This website, Forrest Blake or any of his affiliated...

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Commercial Lease Terms R to S

Disclosure: Content is general information only. Information is not provided as advice for a specific matter, nor does its publication create any relationship between the writer and the reader. Neither this website nor Forrest Blake is qualified, licensed or soliciting  to give commercial real estate broker, commercial real estate agent, Los Angeles tenant broker, commercial office space, legal or accounting advice on any subject. Please consult with your real estate broker, attorney or accountant regarding any of the concepts written on this website. This website, Forrest Blake or any of his affiliated...

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