Answer Financial Inc.

Client Situation

Answer Financial Inc. is a leading financial services organization dedicated to helping people become more sophisticated insurance services consumers.  Answer provides a comprehensive range of products and services specifically designed to simplify the insurance-buying process and assist consumers in making informed decisions. Answer’s services cover auto; home; life; health; long-term care; pet insurance; annuity products; home warranty; vision plans; online banking; discount prescription plans; and travel protection.

Consideration Analysis

Answer Financial was subleasing approximately 40,000 square feet from Pinkerton Securities at a rate that was 50 percent over the prevailing rental market. With a lease renewal as a backup strategy, Studley (now Savills Studley) secured a single-story project as an alternative, with free parking to accommodate Answer Financial’s heavy parking requirement of 250 cars.

Result

Using the single-story alternative to motivate the existing Landlord, Studley secured a beneficial renewal rental rate, 66 percent free parking, a favorable termination right, and monument signage. These concessions outweighed the appeal of the freestanding building after consideration of relocation costs and business disruption.
 

Summary Information

  • Property: 15910 Ventura Boulevard, Encino, CA
  • Transaction Size: 65,000 SF
  • Transaction Type: Renewal
  • Service Line: Office

Meet the Team

Catalano, Mike

Catalano, Mike

Executive Vice President, Branch Manager
310.444.1066