Glendale Development Pushes Doctors Out, Tenant Representative Moves in to Save Their Practice
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 nzardarian@bailesre.com 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.
