Industrial/Manufacturing: PhotoSonics, Inc.
Aaron was tasked with finding a new home for this aerospace manufacturing firm that had been operating from the same facility in Burbank since its inception 55 years earlier. The challenges included finding a suitable replacement facility in a short time frame, managing a tight departure time frame placed upon the client by their landlord, and the cultural shock to the company and its staff who had never envisioned conducting their business anywhere else but their “ancestral” home.
The search was highlighted by two “mirage” solutions – two promising buildings that fit several of the company’s exacting technical criteria but ended up being prohibitively expensive to complete. As the stress increased on the client to move, Aaron worked in concert with their legal counsel to carefully manage expectations of their landlord and buy them time.
Deep into negotiations on “mirage” #2, Aaron revisited a property in Chatsworth that had been on the market for sale and had just been bought. Seeing the new owner’s lightning fast action to refresh the inside and outside of the building and get it ready for market , Aaron recognized the opportunity to redirect the owner’s capital to the client’s required improvements. A deal was negotiated for turnkey tenant improvements and leases signed within 30 days. The tenant made the move without suffering a dollar in penalties from their old landlord.
The process took 11 months and Aaron’s unflagging attention, ending with the tenant’s total satisfaction.
Retail: Old California Coffee House
Aaron was engaged by a couple in escrow to purchase an existing coffee house and the existing lease was expiring in less than a year. Upon a careful reading of the existing lease, Mr. Weiner concluded that the Permitted Use clause – central to any retail tenant’s business – was very limiting, narrowly defining what the tenant could sell in deference to the exclusive use language in the lease of a national coffee shop chain in the center. The clause as written
The landlord was proposing using the same lease language in the new lease which would have clearly impeded the tenant’s plan to reposition the business and expand its menu offerings to increase sales.
Mr. Weiner diplomatically requested a copy of the exclusive use language in the coffee shop lease and, finding the language rather vague, carefully crafted new use language that provided his tenant could sell food items “not prohibited in the [coffee shop] lease”. This met the landlord’s basic needs by putting them on safe ground with the national tenant.
After strategic negotiations, the lease was signed with the proposed modified use language and the tenant immediately set about remodeling the shop and updating the menu with several items that would have been technically prohibited in the old lease. The repositioning of the coffee house reached a milestone when it was voted “Best Independent Coffee House in North San Diego County” less than one year after the they took over the business.
Our expertise in drafting carefully crafted lease language cleared the way for the tenant’s ingenuity and hard work and the creation of a successful enterprise.
Office: Poms & Associates, Inc.
Handling the search and site selection of a new West Los Angeles office for this multi-state independent business lines insurance agency might have appeared ordinary to the casual observer. But it was the depth of Aaron Weiner’s professional resources that shepherded this significant expansion to a successful completion.
Beyond the location search and negotiation of the basic business terms, Aaron sees to it that the tenant has the support of a stable of professional resources including space planners, architects, engineers, project managers, plan check expediters, general contractors, furniture vendors, telecom specialists, and movers.
One challenge the client presented was their strong desire to use a general contractor of their choosing in a class A office building where the landlord had exclusively used two very carefully vetted contractors. It took persistent negotiations but Aaron was successful in leveraging the insights gained from 23 years as a commercial property manager to alleviate the landlord’s concerns. Further, in a creative negotiation maneuver, he got the landlord to extend additional T.I. dollars line of credit that the tenant could tap into throughout the entire 10 year term of the lease.
Though it took some persuading, Aaron convinced the client of the wisdom of engaging an independent construction manager to oversee the tenant improvements…being performed by the tenant’s own favorite general contractor. In the end, the fee paid to the party Aaron referred for this purpose was small compared to the time and aggravation the client was spared.