Garland Center

Client Name: Wells Fargo
Building Name: Garland Center
Location: 1200 W. 7th Street, Los Angeles, CA 90017
Square Footage: 726,131
Type Building: Mixed Use; Office and Telecommunications

The Garland Center, built in 1983, is one of the largest mixed use office and telecommunications buildings in greater Los Angeles.  Its twelve stories include nine stories above grade used for general office space, and three floors of telecommunications, data centers and the buildings impressive state of the art central plant below grade.  There are over 30 tenants at the Garland Center.  The building is operational and serviced by management, engineering and security services around-the-clock.  The Garland Center has significant electrical and HVAC capacity, both primary and redundant.

What were we hired to do?
Morlin was hired to significantly improve management, handle construction supervision and provide support for re-leasing of all the space in the building.

Why were we hired?
Morlin has a long-standing relationship with key individuals at Wells Fargo. Morlin was selected because of our expertise in property and construction management, our ability to integrate into the Wells Fargo system, the involvement of our principals in the management of the building and our competitive price.

What were the problems with the property?
Morlin took responsibility for the management of the Garland Center in 1999.  At that time the significant utility costs were invoiced to the tenants on an average and estimated basis.    The telecom tenants were not being properly supervised nor did the building have the capability of efficiently monitoring the tenant power loads.  The HVAC and electrical systems required equipment and software upgrades  to improve energy efficiency and adequate services to the telecom and office tenants.

What did we do to solve these problems?

  • The Morlin team helped initiate a systematic metering system for all subordinated utility services by installing a computerized power monitoring system thereby giving us the ability to bill the tenants specifically and accurately for the power they used.  This resulted in increased revenue by recovering on average  90% to 95% of the monthly energy costs consumed at the property  rather than having to wait for the year end reconciliation to collect these monies.
  • A Set of Supplemental Rules and Regulations with building-specific standard provisions for the telecom industry were developed by Morlin for all telecom tenants and enforced by the Morlin management team and the engineering staff.
  • Since 2008, we have supervised significant demolition and refurbishment of tenant spaces resulting in over 200,000 square feet of lease-ready space. We also supervised construction of approximately 145,000 square feet of new tenant spaces. Morlin co-designed a new central plant to support the telcom and data center tenants demands for increase loads for HVAC and emergency power systems.  Morlin assisted with the entire build out, commissioning and computerization of the new central plant.

Did we do something particularly innovative?

  • Following the commissioning of the new Central Plant, Morlin applied for and received one of the largest utility company incentive checks for its newly installed equipment:  $ 1.1 million dollars.
  • Re-bid the janitorial, security and landscape contract services for an annual cost reduction of over $420,000.

Did the client expand the relationship with us as a result of our work?

Yes.  Our portfolio has grown with Wells Fargo to include several additional assets.

Skills:  Case Study

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Morlin Asset Management, LP | Garland Center