Exclusive tenant representative Narine Zardarian of Bailes & Associates, Inc. found and negotiated a lease on their new 6,000 square foot location within a two week period. Arguably, Zardarian was able to negotiate the most affordable industrial deal in the San Fernando Valley.
One of Glendale’s most popular eateries, Wooden Fork Restaurant, signs a long-term lease on Brand Blvd. with the diligent assistance of tenant advocate Narine Zardarian of Bailes & Associates, Inc.
Aaron Weiner of Bailes & Associates, Inc. moved venerable aerospace manufacturer Photo-Sonics, Inc. from their ancestral home in Burbank where they were formed and had operated continuously since 1952. During their years in Burbank, the Rancho equestrian neighborhood grew up around them and they found themselves operating peacefully in the middle of a residential community. But the metamorphosis of the neighborhood finally caught up to them and their landlord of more than 60 years (actually the children of the original landlord) sold the property to an owner-user interested in converting the buildings to a campus more in line with the current entertainment industry in Burbank.
“When I was engaged by Photo-Sonics to find them a new building to house their manufacturing, R&D and corporate offices, they made it clear that they needed a lot of hand holding because nobody at the company had ever dealt with this process” Aaron said. “I provided it.”
With the Los Angeles industrial at historically tight levels, there was not much to choose from. Add to that the specific building requirements of a manufacturer and geographical limitations of an R&D company with a team of highly specialized engineers, and we had a huge challenge finding a building that would work for them.
“We entered into negotiations on two occasions with willing landlords but the cost of modifying their buildings turned out to be much more than the either party was comfortable with” Weiner stated. “It was while we were trying to figure out how to amortize extra landlord improvement allowances at the second location that I noticed a familiar 44,400 square foot building coming back on the market with a new owner ready to spend significant dollars to modernize the building. The new landlord’s plans and my client’s needs aligned perfectly and we had a lease signed in 30 days.”
It was a happy ending to a 10 month search. “I never stopped looking for the right building for Photo-Sonics” Aaron said. “And it paid off.”
Bailes & Associates, Inc. announce the lease for Catlin Insurance Company’s Boston office at 60 State Street. Mark Coffey assisted Catlin on the long term lease valued at $3M relocating the office to the 22nd floor of this prominent building in Boston’s central business district in October. Catlin insurance is a Bermuda-based specialty insurer and reinsurance and the owner of the largest syndicate of Lloyd’s of London. Catlin’s shares are treaded on the London Stick Exchange and the company is a member of the FTSE 250 Index.
Gary Pepp, Senior Vice President of Bailes & Associates had represented The Greater Long Beach Orthopaedic Surgical and Medical Group five years ago to the renegotiation of their 10,000+ sf medical practice in Long Beach. In 2013, the doctors had asked Gary to renegotiate their medical practice in Los Alamitos which also consisted of 10,000+ sf of space. Now in 2014, Bailes & Associates are pleased to announce that Gary has again successfully renegotiated another five years of medical office lease for the Orthopaedic Doctors and their Long Beach location. The lease was countersigned by the landlord, Jamison Services, on August 28, 2014.
The highly successful “The Original Dave’s Cosmic Subs” is branching out from its areas surrounding Cleveland, Ohio. The sub shop will be the first in Southern California and will be located in the City of Seal Beach. What makes this shop different from all the other popular Dave’s Cosmic Sub locations is that the franchise owners, Larry and JoAnn Drum, are working on plans to serve beer and wine to their customers. Thanks to Gary Pepp, Senior Vice President of Bailes & Associates, who not only found the unique stand-alone building which was a vacant drive-thru coffee shop just sitting in the parking lot of a very popular Seal Beach shopping center but also negotiated a favorable lease for his clients. Approximately 250 square feet of the building’s drive-thru lane will be converted into an outdoor dining patio for its patrons. The negotiations were complex and involved much detail but in the end, the lease was signed to everyone’s satisfaction.
The site is located the highly traveled Pacific Coast Highway and offers great visibility to the general public. This location is sure to be highly successful under the direction of the owners, Larry and Joann Drum which may lead to future Dave’s Cosmic Subs locations on the West Coast.
Glendale, CA (August 5, 2014) – As the real estate market recovers and development resumes, behind the set of the development stage unfold stories of individual businesses forced to evolve to remain on the scene. Many such businesses have been tenants of the medical buildings that stood strong for decades on North Central Avenue. With a hard deadline facing them, these tenants had to scurry to relocate before the North Central Avenue Apartment project got underway.
What do the offices of Dr. Mark M. De León, DDS, Dr. Clarisse Atakhanian, DDS, American Hearing and Balance and Drs. Karine Gaboian and Paul Duron, MD, have in common? All had been tenants at 633 N. Central Avenue for about two decades. Now, being thrust back into the leasing market, twenty years later, these doctors attempted to navigate shark infested leasing waters with minimal knowledge of what lay in the depths of a leasing transaction. After many challenging attempts to relocate and with only three months remaining, they finally were approached by someone who specializes in the Glendale leasing market and could alleviate the office leasing burden off their shoulders, enabling them to focus on their core mission of treating patients. This person was Narine Zardarian, a tenant representative with a 33-year old boutique Los Angeles based commercial real estate firm called Bailes & Associates, Inc.
Zardarian restored hope for these tenants as she met with and listened to the needs and wants of each. To Drs. Gaboian and Duron, a move-in ready office with ample parking and within close proximity to their current zip code was paramount, to Dr. Atakhanian’s dental office it was essential to acquire an existing dental suite that required limited tenant improvement work, to Dr. De León it was critical to find a space that felt welcoming and met their build out, rate and parking requirements, and to American Hearing and Balance it was essential to remain within close proximity to their elderly patients, be wheelchair accessible, stay within budget and have ample room to install their heavyweight sound booth. All of these tenants’ requirements were met and as of August 2014, all have moved into their freshly painted suites.
Dr. Mark De León, DDS, has moved to 1201 N. Pacific Ave., Suite 101;
Dr. Clarisse Atakhanian, DDS, has moved to 1201 N. Pacific Ave., Suite 104;
Dr. Karine Gaboian, MD, and Dr. Paul Duron, MD, have moved to 1141 N. Brand Blvd., Suite 400; and, American Hearing and Balance has moved to 230 N. Maryland Ave., Suite 200.
“It was amazing working with each of these tenants. I learned so much about their practices and I, especially, realized how much each cares about the people they treat; stopping at nothing to deliver treatment. For example, aside from running a full time dental practice, Dr. De León serves as a Board Member of Medical Mission Adventures, where he provides free dental services to underprivileged individuals through a mobile clinic. As the City becomes home to hundreds of additional residents who will need the services provided by these doctors once the new North Central Avenue apartment project rises in the very space where these doctors worked for two decades, my clients will continue to be an asset and play a critical role to the thriving City of Glendale,” said Narine Zardarian, MBA.
The North Central Apartment project will be comprised of a total of 507 multi-family residential rental units. These units will be housed in two five- story buildings with 315 units in one and 192 units in the other. The wrap style structures will enable tenants to park on the same level as their apartment.
For more information on Narine Zardarian’s tenant representation services, please contact her at firstname.lastname@example.org or at 310-445-4317.
Founded in 1981 by Len Bailes, Bailes & Associates, Inc. is a commercial real estate services and advisory firm specializing in tenant representation. Companies retain Bailes & Associates, Inc. to find space to lease or purchase as well as negotiate lease renewals and expansions.
Utilizing a strategic approach, Bailes & Associates, Inc. helps their clients identify their personnel and space requirements, assess their current lease obligations, survey potential sites, negotiate the transaction and manage the process from inception to move-in.
Argus Medical Management Has Extended Their Contract with Bailes & Associates, Inc. Through December 31, 2015
Argus Medical Management, The Physician Practice Management Company, manages approximately 80 ProHealth physicians in the Los Angeles/Orange County area in the operations of their medical practice. Since 2011, Gary Pepp, Senior Vice President of Bailes & Associates, Inc., has represented these physicians in the renewing, expanding, or downsizing of their existing offices while relocating other physicians to more desirable spaces.
Sky Peterson of Bailes and Associates, Inc., represented Softscape, Inc., in the purchase of 19,602 SF of industrial land at 2605 S. Cypress Avenue in Santa Ana which closed in early June. Softscape, Inc. is an Orange County-based commercial and residential landscaping firm.
Bailes & Associates, Inc. announces the relocation of the Orange County office to 19100 Von Karman Avenue, Suite 430, Irvine, CA 92612 effective June 1, 2014. The move to the Atrium Building provides the firm with enhanced office space located in the heart of the John Wayne Airport area of Irvine.