Pite Aldrige Building
San Diego, CA
Maximizing Client Value
4375 Jutland Drive is the home of Pite Aldridge, the latest iteration of a successful law firm that was started over 20 years ago. Starting in just a portion of the building, the firm eventually grew to take over the entire 3-floor building in a purchase years ago. They have since merged with other firms to broaden their reach and to bring in new revenue streams from across the country.
After forging a relationship with one of the partners over years of real estate sales, Tashakorian earned the assignment to sell the building. The client was retiring, but the business was in the midst of an exciting realignment and sale. With revenues more than doubling under this new arrangement, Tashakorian sensed how the market would react to such a credit enhancement for the tenant, despite knowing the sale was not completed yet and would not take place for 2 years.
By placing the right buyer in position, one who was willing to pay above-market on the current tenancy structure and by having the vision to see what the final company would be, Tashakorian was able to maximize value for two different clients at two different time periods, in two different financial situations. This was accomplished by accurately understanding trends in real estate and pitching this vision to our clients.
total sqft: 31,530
location: San Diego, CA