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Corbin Northridge
Challenge: A single tenant office building which was vacated by Washington Mutual
following a 25 year occupancy. The ownership was concerned with the viability of releasing the property, given the
limited office market in the area and the ongoing downsizing of Washington Mutual in surrounding properties.
Solution: Dunn Property Group implemented a leasing plan that focused on users that preferred large floor plates.
Numerous prospects were procured and lease negotiations commenced promptly. Lease negotiations with the selected tenants
were concluded swiftly and the building was completely released and converted into a multi tenant building. The projects
return to investors was increased by 45% and the rent roll has been stabilized with a solid mix of credit tenants.
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Location:
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Northridge, CA
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Service:
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Landlord Representation
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Lease:
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112,000 square feet
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Tenants:
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County of Los Angeles
Holman Professional Services
Harris Corporation
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Wateridge Office Park
Challenge: The tenant had severe parking problems at their corporate headquarters.
Additionally, they had multiple locations that had created inefficiencies within their operation.
They had an option to terminate the lease at their headquarter location that needed to be exercised
during a small window of time. The tenant needed another landlord to pay for their lease termination
costs and they needed to remain within a specific region of Los Angeles.
Solution: A facility was secured that could house all of their operations and provided ample
parking. A lease was negotiated that including the lease termination costs of the existing facility. The
lease was completely negotiated in the tight timeframe of the option to terminate.
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Location:
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Los Angeles, CA
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Service:
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Tenant Representation
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San Fernando Swap Meet
Challenge:
The property was leased to a swap meet operation. The net income of the property indicated a higher value than the industrial zone justified.
Solution:
Dunn Property Group negotiated a sale of the property to two buyers, a retail developer and the Los
Angeles Unified School District. The school district ground leased the portion of the site they purchased to the retail
developer for three years, while they were making preparations to build a school. The retail developer continued the
swap meet operation on the property while they worked to rezone the property for retail use, which would justify the higher price paid for the property.
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Location:
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San Fernando, CA
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Service:
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Seller Representation - Land
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Buyer:
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LAUSD, Retail Developer
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