Top LA Brokers Form LA Realty Partners
- Apr 20, 2010
April 20, 2010
By Allison Landa, News Editor
Hunt Barnett knew it was time to move on. That’s why the former principal at Los Angeles commercial real estate sales and leasing firm Madison Partners, along with five other major brokers, chose to rebrand as LA Realty Partners.
“That’s the way things evolved,” Barnett told CPE. “It was two separate entities all along and two different ways of governing those entities … we concluded it was not going to work that well, and it was a good time to move on and start the new entity.”
That new entity is headed by Barnett, Peter Best, Rick Buckley, Chris Houge, Lisa St. John and Gary Weiss, all of whom were formerly associated with Madison Partners. Madison was launched in 2004 by owner Bob Safai along with Barnett, Buckley, Houge and Weiss.
“Our goals are to keep on doing what we’ve been doing for our entire career – provide quality service with high integrity and do a good job in this arena we work in,” Barnett said.
The group will continue to be based in Century City, focusing on the Class A office market with an emphasis in West Los Angeles. They will provide full-service consulting, agency leasing, tenant representation and investment sales.
Barnett said the team’s years of experience will help them succeed through recession and recovery. Collectively, the partners have completed thousands of transactions involving multiple millions of square feet of office space, working with a diverse clientele including REITs and institutional owners, private investors, Fortune 500 companies and large corporations, entertainment firms, law offices, investment banks, government agencies and technology firms.
“As a veteran ballplayer you know how to hunker down and stay focused and not chase rainbows, a lot of hard work and basic blocking and tackling,” he said. “I believe we’ve successfully done that, outperformed our peers for the last couple of years. We haven’t had any issues, cost-cutting, or layoffs over the year.”
Barnett said Los Angeles has lagged the beginning of the recovery, which he said is more evident in London and New York. He added that the problem seems not to be oversupply, but lack of demand.
“I don’t see there being any robust recovery here because we haven’t seen any evidence of job and hiring activities,” he said. “Most economists are predicting a rather slow, gradual improvement, and that definitely appears to be what we’re going to go through.”