NEWS
I am very proud to announce the conclusion of lease expansion negotiations on behalf of our long term client, investment banking firm Harvey & Company, for their additional corporate headquarter’s space located at 5000 Birch Street in Newport Beach, California!
This marks the third time Jeff Tabor group has represented Harvey & Company.
A special shout out to the landlord’s representative, Ms. Monica Enes, of Jones Lang LaSalle for her professional representation of the landlord, John Hancock Life Insurance.
Harvey & Company is a leading buy-side acquisition search and principal investment firm that has been involved in over 800 buy-side transactions, including 151 in 2022. Since their founding in 1998, they have built a strong track record of successful investments and acquisitions within industrial, business, and financial services; manufacturing; healthcare; distribution; consumer; technology; education and energy sectors. To learn more, visit their website: https://harveyllc.com/
We are very excited to announce Verb Technology Company has selected the Jeff Tabor Group to spearhead the search and negotiation for a new Southern California corporate headquarters location!
We are pleased to have the opportunity to serve this client and for entrusting us with these responsibilities.
Verb is made up of creators, innovators, and leaders who are driven by a dedication to excellence and making the world a better place. To learn more, visit their website: https://www.verb.tech/
If you are unable to proclaim the same or better sentiments of your current broker representation (making certain BOTH they and their firm ONLY represent tenants) well, maybe you ought to think of a different, more value added, perspective…I’m just saying…
The Jeff Tabor Group continues to dominate law firm tenant representation!
We are very proud to announce The Jeff Tabor Group’s Orange County office concluded lease negotiations on behalf of The Yocca Law Firm LLP to represent their leasehold interests for their new corporate offices at 18881 Von Karman Avenue in Irvine, California.
We are pleased to have the opportunity to serve this client and for continuing to entrust us with the negotiations of their leasehold interests.
The Yocca Law Firm LLP, a business and employment litigation firm, has decades of experience in winning difficult cases, successfully litigating with and against the largest multi-national law firms. Its lawyers combine the depth of experience found in large firms, with the responsive service and personalized approach of a small firm. To learn more, visit their website: https://yocca.com/home/
We are very proud to announce The Jeff Tabor Group’s Orange County office just concluded lease relocation negotiations on behalf of Verb Technology and their corporate headquarters into their new offices in Los Alamitos, California.
We are pleased to have the opportunity to serve this client and for entrusting us with these responsibilities. Reach out to me if you would like to discuss this as well.
Verb is made up of creators, innovators, and leaders who are driven by a dedication to excellence and making the world a better place. To learn more, visit their website: https://www.verb.tech/
The Jeff Tabor Group continues to dominate law firm tenant representation throughout the United States!
We are proud to announce our Orange County office has concluded lease renewal negotiations on behalf of Kramer, deBoer & Keane for their corporate offices located at 74770 Highway 111 in Indian Wells. We are pleased to have the opportunity to serve this client and for entrusting us with the negotiations of their leasehold interests.
Kramer, deBoer & Keane, LLP is a civil litigation law firm. Their practice emphasizes civil lawsuits in all State and Federal Courts throughout Northern and Southern California. They deliver quality, cost-effective legal services with integrity and accountability, by working in partnership with their clients, their employees and their business associates. To learn more, visit their website: https://kdeklaw.com/
We are proud to announce our Century City office has concluded lease renewal negotiations on behalf of Panda America for their corporate offices located at 3400 Torrance Blvd. in Torrance. We are pleased to have the opportunity to serve this new client and for entrusting us with the negotiations of their leasehold interests.
Panda America is headquartered in Torrance, California, and enjoys a leadership position in marketing and distributing modern issue coins. Their commitment to quality - in the products they market and the people that make up their organization - has contributed to the development of the Panda America brand as one of prestige and integrity. To learn more, visit their website: https://www.pandaamerica.com/
The Jeff Tabor Group continues to dominate law firm tenant representation in Southern California!
We are proud to announce our Orange County office has concluded lease renewal negotiations on behalf of Sessions & Kimball in their leasehold interests for their corporate offices in Mission Viejo, California.
We are pleased to have the opportunity to serve this client and for entrusting us with the negotiations of their leasehold interests.
Sessions & Kimball is unmatched in exclusively representing Southern California employees. They are regularly recognized as one of the region’s “Best Law Firms” by U.S. News and World Report. Their attorneys have prevailed on thousands of cases through trial, litigation, and confidential settlement. And they are recognized leaders in the industry! To learn more, visit their website: https://www.job-law.com/
We are proud to announce that the Jeff Tabor Group has been selected by The Gate Orange County to represent their leasehold interests for their offices here in Southern California.
We are pleased to have the opportunity to serve this client and continue yet another long-term relationship.
The Gate is a non profit corporation whose vision is to provide affordable space and resources for the community to use. To learn more, visit their website: https://thegateoc.com/
We are proud to announce our Orange County office has concluded lease renewal negotiations on behalf of California Therapy Solutions in their leasehold interests for their corporate offices in Irvine, California.
We are pleased to have the opportunity to serve this client and for entrusting us with the negotiations of their leasehold interests. The Jeff Tabor Group represents this fine firm with the negotiations of all their Southern California locations.
When you visit one of California Therapy Solutions’ five Orange County locations, you can count on expert therapeutic treatment delivered with care and compassion. Their highly-experienced therapists and staff are accessible, empathetic, and professional. You will find that their team genuinely cares about you, your health, and your life goals. To learn more, visit their website: https://www.californiatherapysolutions.com/
We are proud to announce our Orange County office has concluded lease renewal negotiations on behalf of Porter Lighting Sales, Inc. in their leasehold interests for their corporate offices in Brea, California.
We are pleased to have the opportunity to serve this client for the third time and for entrusting us with the negotiations of their leasehold interests.
Porter Lighting Sales has over 25 years of experience in the lighting industry and they are constantly keeping up-to-date with new LED technology. They specialize in providing their customers with superior customer service and knowledge of their manufacturer's products. To learn more, visit their website: https://www.porterlightingsales.com/
The Jeff Tabor Group continues to dominate tenant representation throughout Southern California!
We are proud to announce our Downtown Los Angeles office has been selected, yet again, by another longtime client, Kazarian, Measures, Ruskin & Associates Inc., to represent their leasehold interests for their corporate offices located at 5200 Lankershim Boulevard in Los Angeles. This is the second time we have been selected by this great company! Please see adjacent the letter of reference they sent to us the last time!
Kazarian/Measures/Ruskin & Associates is one of the country’s leading bi coastal talent agencies. Consistently ranked in the top 15 of all talent agencies by the Los Angeles Business Journal, KMR has a rich history of over 60 years in the entertainment business. To learn more, visit their website: https://www.kmrtalent.com/
We are proud to announce that the Jeff Tabor Group has been selected, for the third time, by T & B Planning to represent their leasehold negotiations for their large corporate office spaces here in Southern California. We are pleased to have the opportunity to serve this client and continue yet another long-term relationship.
T&B Planning works on projects of all types, scale, and complexity. Their Principals and Project Managers are directly involved in project management and are supported by a highly-qualified interdisciplinary staff of planners, analysts, land use experts, and GIS/graphics specialists. To learn more, visit their website: https://tbplanning.com/
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!
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.
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 patents, trademarks 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/
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 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
