The lengthy permitting process in Los Angeles has motivated retail landlords to step in, especially on new build projects, and build out space for tenants rather than leaving them to their own devices.
“We’re in an environment in Los Angeles where not only is it about the story, finding the right tenant, getting the economic terms right, but it’s also about time, it’s about effort, it’s about permitting,” KWP Real Estate Vice President Jaysen Chiaramonte said at Bisnow’s Southern California Hospitality & Retail Commercial Real Estate Summit.
Source: Landlords Are Stepping In To Help Tenants Build Out Space On Time