Skilled Negotiator

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...

Read more...

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...

Read more...

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...

Read more...

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...

Read more...

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...

Read more...

Art of the Commercial Real Estate Deal

Please click on the cover wait 90 seconds for the book to download.

Read more...