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RedBuilding's New Leasing Guy
Auction (May26) LA
May 1, 2013

RedBuilding's New Leasing Guy

Get the Red out—that's the mission of the Pacific Design Center's new SVP/director of leasing, Jeff Lasky. The 400k SF RedBuilding, which received its certificate of occupancy in February, is in the market for tenants. (So if red really brings out your eyes, this might be the building for you.)

Following the tenures of three outside brokerage firms that previously leased the project, Jeff tells us the newly created position represents a switch in gears—to have a dedicated person within PDC owner Cohen Brothers Realty Corp who would run the leasing program as a large institution would. The 20-year Westside office veteran joined the company from CBRE and has worked on the large institutional landlord side for the past 10 years. But Jeff understands tenants' needs too—earlier in his career, he was a tenant broker with Studley.
CohnReznick (May6) MLA

He expects the Cesar Pelli-designed building will be attractive to cutting-edge, creative, tech, and entertainment-related tenants that find value in a signature location with iconic architecture, "which allows them to brand their company and build a culture." While FIRE tenants traditionally haven't located in this market, the building likely will appeal to high-net-worth money management firms and other users that need a unique identity.

The PDC's GM, Howard Hyde, took us up in the VIP elevator (finally an excuse to wear our monocle) to the sky lobby that connects the RedBuilding's two towers. Cohen Brothers president Charles Cohen is moving his West Coast real estate and media operations from the Blue Whale into the RedBuilding's east tower.

Citing the market and economy, Jeff notes there have been lots of long-term renewals but very few large net new transactions in the past five years. Tenants haven't been willing to make large capital investments in their real estate or are making more efficient use of their space. However, as the economy turns, he's starting to see activity from some of the larger users. According to Jeff, the project is in discussions with several tenants for leases ranging from one to four floors.

USC Minority Program Honors Ross

USC Lusk Center for Real Estate chairman Stan Ross, fifth from left, was honored at a 20th anniversary bash for the USC Ross Minority Program in Real Estate, which raised more than $1M. Perhaps co-chairs Rick Caruso, Tom Barrack, Ed Roski, and Donald Bren (plus USC president Max Nikias and their spouses) could've come up with that much just by digging under their sofa cushions, but then more than 600 RE industry leaders and alumni wouldn't have enjoyed a glamorous evening.

Following the LA riots in 1992, USC together with the former CRA launched the Minority Program, which has trained hundreds of students in the RE fundamentals with the goal of boosting redevelopment opportunities in urban communities. A monetary gift from Stan and wife Marilyn made the program a permanent institution at USC in 2003. The Lusk Center has an endowment campaign under way to permanently preserve the Minority Program in their names.

Lakers Girl Janet Neman

Janet Neman Charles Dunn getting award Lakers
You don't need season tickets to know that Charles Dunn Co senior managing director Janet Neman is a star both on and off the court. She was one of the firm's top 10 producing agents in '11 and '12 and has been chosen as an honoree in the Best of LA Women's Business Awards sponsored by the LA Lakers and Comerica Bank. (The Lakers also want to know how she shoots from beyond the arc.) Janet, who specializes in the analysis, marketing, and sale of multifamily properties, completed more than $100M in transactions last year—part of her career tally of $950M.

The important things to remember: Be present. Fall in love. Dance. And send news to julie@bisnow.com.

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