LOS ANGELES—Most developers have overlooked the small-box creative office space, but newcomer HQ Creative Office has found loads of demand—and yields—in the niche market, GlobeSt.com reports exclusively. The developer came on the Los Angeles scene three years ago when he saw the intense demand for tailored, high-end creative office. Now, he has a portfolio of bespoke creative office buildings ranging in size from 8,000 square feet to 30,000 square feet, and he is garnering well above market rents.

“I am an entrepreneur but more of an opportunist than anything else,” Robert Herscu, the CEO and founder of HQ Creative Office, tells GlobeSt.com. “I went on a crusade over the last three-and-a-half year period to buy 12 buildings, and I kept it under 40,000 square feet, and I began to develop very high end creative office that was more akin to high-end homes. I found architects in the high-end residential home world, and it has evolved over the last three years so that now we sort of do everything for the tenant. They can just bring in their toothbrush and start to work. We are not a typical developer. We build very high end and on spec, and we build out the whole space.”

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

 

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2022 ALM Global, LLC. All Rights Reserved.