Wells Fargo

Sherman Oaks, CA
30,000 SF
Cresa Los Angeles

 

Client Objectives

Wells Fargo Insurance occupied four different suites in the building and wanted to both consolidate into fewer spaces and become more efficient. Additionally, they wanted to capitalize on a weak real estate market and reduce occupancy costs prior to lease expiration and in the future.

Result

Using Wells Fargo's credit and identifying viable alternatives in adjacent and weaker submarkets, Cresa was able to create significant market leverage. After securing an aggressive relocation alternative for the tenant, they were able to get the existing landlord to agree to an extremely favorable renewal, which included an immediate space reduction, rent concessions, reduced parking costs and a below-market rent during the extended term.

Additional Assignments

San Diego, CA Beverly Hills, CA Del Mar, CA San Diego, CA Rancho Palos Verdes, CA Westlake Village, CA Sacramento, CA Sacramento, CA San Diego, CA Ontario, CA Sacramento, CA Beverly Hills, CA San Diego, CA Manhattan Beach, CA Rancho Mirage, CA Beverly Hills, CA Hemet, CA 6 Torrance, CA Riverside, CA Irvine, CA San Jose, CA Palo Alto, CA

64,000 SF 37,000 SF 24,829 SF * 20,039 SF 15,603 SF * 15,034 SF 14,442 SF 13,140 SF 11,532 SF 11,000 SF 10,076 SF 10,000 SF 8,076 SF 8,000 SF 8,000 SF * 7,000 SF * 6,552 SF * 6,260 SF * 5,000 SF * 4,951 SF 4,907 SF * 2,332 SF

*in process