NEWS

The Jeff Tabor Group continues to dominate law firm tenant representation in Southern California! We are proud to announce that the Jeff Tabor Group has been selected by another nationally recognized law firm - Liebman, Quigley & Sheppard to represent their leasehold interests for their offices in Los Angeles, California.

We are pleased to have the opportunity to serve this client for the seventh time and for entrusting us with the negotiations of their leasehold interests.

Liebman, Quigley & Sheppard is an aggressive litigation practice, specializing in the defense of Liability claims, as well as assisting clients in the entertainment and media industries. The firm has offices throughout Southern California. To learn more, visit their website: 
www.lqss.com

We are proud to announce that the Jeff Tabor Group has been selected by Acuity Eye Group to represent their leasehold interests for their offices in Costa Mesa, California.

We are pleased to have the opportunity to serve this client and for entrusting us with the negotiations of their leasehold interests.

Acuity Eye Group is committed to helping ophthalmologists and optometrists realize their full potential while providing best-in-class patient care to all those in need. They are experts in the business of ophthalmology with years of experience in the industry, a world-class surgeon as our founder, and an unwavering commitment to helping both established practice owners and young professionals further their ophthalmology careers. To learn more, visit their website: https://www.acuityeyegroup.com/

The Jeff Tabor Group continues to dominate law firm tenant representation in Southern California!

We are proud to announce that we have just received this amazing letter of appreciation from the noted law firm of Stetina, Brunda, Garred & Brucker for their corporate office location at 75 Enterprise in Aliso Viejo, California. 

We are pleased to have the opportunity to serve this client for the second time and for entrusting us with the negotiations of their leasehold interests. 

Stetina Brunda Garred & Brucker  is a prominent AV- rated patent, trademark and copyright law firm strategically located in South Orange County, California. To learn more, visit their website: http://stetinalaw.com/index.html

We are very proud to announce our San Diego office has been selected to represent Sun Genomics in their leasehold interests for their corporate headquarters located in San Diego, California. 

We are pleased to have the opportunity to serve this client and for entrusting us with the negotiations of their leasehold interests. 

Sun Genomics closes the loop by offering Floré, a personalized product that allows you to test your microbiome and take precision probiotic allowing you to experience the change in your body. To learn more, visit their website: https://flore.com/ 

We are very proud to announce our San Diego office has been selected to represent Rehab United in their leasehold interests for their 12,000 square foot headquarters located in Kearny Mesa, California. 

We are pleased to have the opportunity to serve this client and for entrusting us with the negotiations of their leasehold interests.  

Rehab United prides themselves on providing you with the most up-to-date, evidence-based physical therapy care possible in a friendly, warm, and caring environment.  To learn more, visit their website:  https://www.rehabunited.com/

We are proud to announce that the Jeff Tabor Group has been selected by Norman Schall & Associates to represent their leasehold interests for their offices in Los Angeles, California.

We are pleased to have the opportunity to serve this client and for entrusting us with the negotiations of their leasehold interests.

Norman Schall & Associates is an established court reporting agency serving the Southern California community since its inception in 1949. To learn more, visit their website: http://www.schalldepo.com/index.htm

We are proud to announce that we have just finalized a successful lease negotiation for our client, IQA Solutions, for their large corporate office relocation to 3780 Kilroy Airport Way, Long Beach, California. This is a first time client and we look forward to a long-lasting relationship.

We also wish to thank Jason Fine and Monica Enes of JLL, for their great assistance throughout this endeavor!

Established in 2003 and located in Long Beach, California, IQA was formed to provide engineering and design services to clients in petroleum refining and petrochemicals. To learn more, visit their website:  https://www.iqasolutions.com/

The Jeff Tabor Group continues to dominate law firm tenant representation in Southern California!

We are proud to announce that we have just finalized a successful lease renewal negotiation for the noted law firm of Stetina, Brunda, Garred & Brucker for their corporate office location at 75 Enterprise in Aliso Viejo, California. 

We are pleased to have the opportunity to serve this client for the second time and for entrusting us with the negotiations of their leasehold interests. Please see what this fine firm said about our work on their last lease renewal negotiation several years ago.

Stetina Brunda Garred & Brucker  is a prominent AV- rated patent, trademark and copyright law firm strategically located in South Orange County, California. To learn more, visit their website: http://stetinalaw.com/index.html

 

We are proud to announce our Orange County office has been selected to represent Commercial Bank of California in their leasehold interests for their 20,000 square foot corporate headquarters located in Irvine, California. This relationship began in 2001, 23 years ago, when we first represented their CEO on another 20,000 square foot bank lease! Looks like we keep delivering outstanding results!  

We are pleased to have the opportunity to serve this client and for entrusting us with the negotiations of their leasehold interests.

CBC is one of the nation’s highest capitalized banks founded by entrepreneurial business owners and led by a talented team with an ownership mindset. CBC is a full-service, FDIC-insured, business bank headquartered in Irvine, California. The company is owned, built, and run by entrepreneurs for entrepreneurs. To learn more, visit their website: https://cbcal.com/

The Jeff Tabor Group continues to dominate law firm tenant representation in Southern California!

We are proud to announce our Century City office has been selected, for the second time, to represent Hamrick & Evans in their leasehold interests for their 11,000 square foot office located in Burbank, California.

We are pleased to have the opportunity to serve this client and continue yet another long-term relationship with a law firm.

Hamrick & Evans is a premier AV-rated law firm with solutions for highly complex legal situations. To learn more, visit their website: https://www.hamricklaw.com/

We are proud to announce our Century City office has concluded lease negotiations on behalf of Ilan Kedan, MD in his leasehold interests for his new Beverly Hills medical office located at 99 N. La Cienega.

We are pleased to have the opportunity to serve this client and for entrusting us with the negotiations of their leasehold interests.

Ilan Kedan, MD MPH, is actively involved in point of care ultrasound research, teaching, and workflow development. He has done research in cardiology outcomes in heart failure and myocardial infarction. Dr. Kedan is personally invested in community outreach and the support of inclusivity and diversity in the care of patients and the support of colleagues.

We are proud to announce our Orange County office has been selected, for the fourth time, to represent Rausch Physical Therapy in their leasehold interests for their additional office!  Please see what this fine company said about our work when we represented them several years ago on their new corporate location.

We are pleased to have the opportunity to serve this client and continue our relationship!  

At Rausch PT, everyone from their friendly front office staff to their dedicated aides are here to cheer you on and help you achieve your goals. They strive to give you the best experience possible every time you come see them, which is why your personal Rausch physical therapists will be by your side throughout your entire treatment. To learn more, visit their website: https://rauschpt.net/

We are proud to announce that we have just finalized a successful lease renewal negotiation for the noted law firm of Graves & King for their corporate office location at 500 N. Brand in Glendale, California. We wish to thank all the partners for their trust and support. We look forward to a continued relationship with this fine firm! 

Any one can be a “one hit wonder”.  A measure of one’s success is made, in part, when one’s clients allow you to represent them…over and over again…and they tell their friends about you!   To that end, please see what this fine firm said about our work on their last lease renewal negotiation several years ago.

To learn more about Graves & King, please visit their website: gravesandking.com

 

We are proud to announce our Los Angeles office has concluded lease negotiations on behalf of Duplitech in their leasehold interests for their corporate offices in Burbank, California.

We are pleased to have the opportunity to serve this client and for entrusting us with the negotiations of their leasehold interests.

Duplitech delivers digital content solutions for Home Entertainment platforms, streamers, FAST channels and content owners.  To learn more, visit their website: 
https://www.duplitech.com/

We are proud to announce our Orange County office has been selected, for the seventh time, to represent Barber & Bauermeister in their leasehold interests for their corporate headquarters located in Santa Ana, California!  

We are pleased to have the opportunity to serve this client and continue our 32 year relationship!  

Barber & Bauermeister was founded by attorneys with over eighty (80) years combined experience in defense practice. The focus of the firm is on attention to detail and meticulous preparation of cases for trial. All litigation files are closely supervised by principals of the firm. Both Principals are members of ABOTA (American Board of Trial Attorneys.) To learn more, visit their website: https://bandbfirm.com/

We are proud to announce that the Jeff Tabor Group has been selected by Farjami & Farjami LLP to represent their leasehold interests for their offices here in Southern California.

We are pleased to have the opportunity to serve this client and for entrusting us with the negotiations of their leasehold interests.

Farjami & Farjami LLP is a leading high-technology law firm whose mission is to provide unsurpassed legal representation in the various areas of intellectual property law, such as patentstrademarks and copyrights for institutional clients. Our patent lawyers specialize in offering our clients technological expertise in the areas of telecommunications, semiconductors, networks, computers, microprocessors, Internet and software, as well as medical and mechanical devices..  To learn more, visit their website: https://www.farjami.com/

I note CBRE mentions their 3rd quarter/2023 revenue was off by almost 50% from prior year.  My firm’s revenue over the same time period, however, doubled! The chicken is coming home to roost for those firms who try to ride both sides of the fence, representing both landlords and tenants…and it validates my business model of only carrying the flag of the tenant when charging up the hill, extracting landlord concessions and reducing landlord rents!

CBRE Making $150M In Cuts, Targeting Brokerage Business

The world’s largest commercial real estate services firm is making another large round of cost reductions, targeting its core brokerage business, after a worse-than-expected performance in the third quarter.

CBRE revised its earnings expectations for the second consecutive quarter, citing a slowdown in leasing and sales due to a challenging capital markets environment. In response to the weaker environment, CBRE announced on its quarterly earnings call that it has identified $150M in cuts, focused primarily on its transaction lines of business.

“We discussed earlier this year that we were prepared to cut costs further if the market environment deteriorated,” CBRE Chief Financial Officer Emma Giamartino said on the call Friday morning. “That time has come, and we will be reducing costs across our lines of business.”

The firm had announced it was targeting $400M in cost reductions during its Q3 2022 earnings call. Roughly $300M of those cuts came in the form of layoffs.

It is unclear how this latest round of cuts will impact CBRE staff. The company has more than 115,000 employees around the world.

The firm’s cash flow for the quarter was $382M, a 49.3% drop from the prior year. Its net income was also down by 38% year-over-year, coming in at $226M.

“We believe this year will be the trough for our earnings and anticipate meaningful growth next year,” Giamartino said.

CBRE expects its earnings per share will decrease by somewhere in the mid-30% range, Giamartino said, citing CBRE’s exposure to interest rate-sensitive business areas.

The dimmer outlook comes as expectations sink in that higher interest rates may stick around for longer, resulting in delayed sales and leasing decisions and a knock-on effect for CBRE’s business. The company now anticipates that transaction activity won’t rebound fully until the second half of 2024 at the earliest, CEO Bob Sulentic said.

“Uncertainty around interest rates is one really prominent fact, and the expectation that they're now going to come down later than we previously thought,” Sulentic said. “No. 2, there's still a view that values are going to come down some, that privately held assets haven't come into line yet.”

Globally, CBRE’s leasing declined by 16% from a year ago, and the decline was more acute in the Americas, where leasing declined by 21% year-over-year. Sales revenues also demonstrated a similar pattern, falling year-over-year by 38% globally and by 41% in the Americas. The company said leasing has been slower than it anticipated.

Mergers and acquisitions activity has also slowed for the company as it adjusts its risk appetite amid higher capital costs, while seller expectations have failed to keep up.

“We need seller prices to come down for us to be able to execute some of these deals,” Giamartino said.

Menwhile, the company has continued to make strategic investments with $150M invested so far this year on multifamily and industrial acquisitions, Giamartino said.

It took a loss in its development business — it owns Trammell Crow — because asset sales have been slower than expected, it said in its earnings release. Sulentic said the company will delay selling more of its developments until market conditions improve.

CBRE continued buying back its own shares, completing $500M of stock buybacks during the third quarter to reach $630M so far this year. Its stock ticked down by less than 1% in intraday trading Friday.

I am very pleased to announce, through our association with Colliers, we have just yesterday concluded lease negotiations for our long term client, Nations Direct Mortgage, for their new Las Vegas, Neveda office!  A special debt of gratitude to my Las Vegas partner on this transaction goes to Mr. Taber Thill of Colliers, who did the lion’s share of the work!

I am extremely proud of my relationship with Nations Direct Mortgage, which started over thirteen years ago when, after interviewing five firms, they selected me to represent them on a 16,000 square foot direct deal with the Irvine Company. Following multiple expansion negotiations, I, again, represented them in a 50,000 square foot relocation. Smartly negotiating a termination right at the fifth year of that seven year lease, I leveraged that in to a right size lease negotiation for 25,000 square feet!

A long term, valued client indeed! A big shout out to the firm’s fearless leader too, Mr. Dan Upton!

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