Finding Space for Innovation
April 24, 2012
William Small, partner in Blank Rome’s Los Angeles office, was quoted in the Los Angeles Daily Journal about how landlords are offering incentives to lure potential tenants.
"With a huge increase in commercial space available in the market, landlords are trying to figure out why their projects are failing and [are looking at] how they can reposition and redevelop a project to attract new tenants," Mr. Small said.
He said he's especially seeing the phenomenon in California's retail industry, where empty malls and vacant grocery and other development-anchoring stores litter commercial centers across some of the state's hardest hit regions, including the Inland Empire and Central Valley.
"For tenants, there's a flight to quality," he said. "Tenants are looking for the best location and the best combination of other retail tenants."
“Finding Space for Innovation" by Jason W. Armstrong appeared in the Los Angeles Daily Journal on April 24, 2012. For more information, visit www.dailyjournal.com.