Gingold and Company
14724 Ventura Blvd.
Sherman Oaks, CA
Professional Services Office Suite in Multi-Tenant Office Building
Site Search and Negotiations
Comparative Financial Analysis
A small business with a long operating history in an older Class A office tower was quickly approaching a lease expiration in a building that had recently sold to new investors. A significant property tax increase passed through to the Tenant due to the sale, disruptive renovations, and the new ownership’s need to drive rents and achieve projected returns made a relocation seem inevitable. Or was it? Gingold and Company engaged rsfLA to evaluate options and generate an “apples to apples” comparison so they could make an informed decision.
rsfLA commenced renewal negotiations with the new Landlord while simultaneously conducting a site search for an alternative location. A legitimate alternative was found, and negotiations also undertaken. Through a dual track negotiation with competing Landlords rsfLA was able to create leverage with the existing Landlord where there was initially little.
As a small business very conscious of costs, there could be no unanticipated expenses when comparing both alternatives. rsfLA generated a detailed comparative financial analysis, that included the ancillary costs, like the move expense, related to a relocation. Coupled with more subjective evaluations, including employee commute times, Gingold & Company was able to make a truly informed decision regarding their office space.
As an intermediary that spoke the Landlords’ language, rsfLA was able to secure concessions in a renewal that met the existing Landlord’s underwriting criteria, at Lease terms that enabled Gingold and Company’s small business to continue to thrive.