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Case Study: Site Selection The Knitting Factory Jazz Club: New York Cool Makes the Scene in LAClient AssignmentMichael Dorf, the owner of the successful Knitting Factory Jazz Club in New York, wanted to expand his business to Los Angeles. He had been looking for almost two years, when he was introduced to Ira Spilky & Associates by one of Ira's satisfied clients. Michael wanted a low-key "back door" night club with plenty of character, a site that might approximate the SOHO atmosphere of his New York establishment. Development Plan of ActionIra began an extensive site search, showing Michael four sites in the area. All were likely, but none were perfect. Then, Ira contacted one of the many Hollywood/LA landlords he works with frequently. Ira knew of a closed restaurant the landlord had available at the rear of an entertainment complex, the Galaxy Hollywood, just a block from Grauman's Chinese Theater. Ira realized it might be the perfect Knitting Factory location. Michael flew out from New York immediately, and agreed that Ira had found the Knitting Factory its ideal LA site. Win-Win Profit ResultIra had helped create another Win-Win Situation for tenant and landlord. For Michael Dorf and the Knitting Factory, it was a site of just the right size, with just the right rent, and with the atmosphere the club required. Three years later, the Knitting Factory Jazz Club in LA is a going concern. For the landlord, the Knitting Factory represented the icon-status entertainment tenant needed to complete the Galaxy Hollywood project redevelopment. In fact, Michael put close to three million dollars into Knitting Factory renovations. That's client commitment. This Win-Win Situation is working so well that landlord and tenant are currently negotiating to open a Knitting Factory in a building the landlord owns in San Jose. |
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Ira Spilky & Associates tel:
310-558-3241 fax: 888-588-5933 |
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