Ira Spilky & Associates

Case Study: Real Estate Broker Services/Site Selection

The Arba Group—Laurel Promenade
A Great Lineup of Restaurants for a Studio City Development

Client Assignment

The Arba Group is a major real estate and shopping center development firm based in Los Angeles, CA. The company was developing Laurel Promenade, an upscale two-level strip shopping center in Studio City, CA. Arba had retained commercial realtors CB Richard Ellis to find tenants for the new mall. The mall had four restaurant spaces to fill. In order to ensure those spaces would be leased by high-quality, fully qualified restaurants, CB Richard Ellis turned to Ira Spilky for his restaurant industry expertise and his extensive client base.

Development Plan of Action

Over a two-year period, Ira worked with Arba Group President Ira Smedra to bring four restaurants into Laurel Promenade. Taking into account the criteria of the individual spaces, including square footage, rent and potential customer base and foot traffic, Ira presented credit-worthy tenants who were specifically qualified for each space. Ira also handled the lease negotiations for all for restaurants. The four high-profile restaurants were The Daily Grill, Louisa's Trattoria, Gaucho Grill and The Big Chill Yogurt Company.

Win-Win Profit Result

More than four years later, all four restaurants are still going strong as members of Laurel Promenade. Ira Spilky & Associates has created a "four of a kind" set of Win-Win Situations: a profitable home for four great restaurant businesses and a powerful line-up of attractive restaurants that benefits the Arba Group and all of Laurel Promenade's other business owners. After the success of the Laurel Promenade project, Ira Smedra of the Arba Group now frequently calls upon Ira Spilky to help find qualified, success-oriented restaurant and entertainment venue tenants for the company's developments and properties.

Ira Spilky & Associates   tel: 310-558-3241   fax: 888-588-5933
16130 Ventura Blvd. Suite 512, Los Angeles, CA 91436