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Press, Corporate
Sklar Kirsh brings on corporate attorney from Loeb & Loeb

Sklar Kirsh LLP has added corporate partner Jennifer L. Borow to its Century City office. Borow, who comes from Loeb & Loeb LLP, brings experience in the structuring and negotiation of complex transactions, the capitalization and governance of business entities, and the drafting of business contracts for clients’ businesses, real estate holdings and other investment assets. Borow’s hire is part of the boutique’s quick expansion since it opened earlier this year.

Press, Corporate, Real Estate
The Internet Brings Unintended Consequences to a Changing Retail Market

What effects has the Internet had on the brick-and-mortar retail market? This question has been discussed, written about, analyzed and debated thousands of times over the past several years. During this time, it has become rather routine for consumers to purchase all sorts of goods on the Internet. From clothing to household items and office supplies, it’s clear there is a generational shift that is affecting one’s buying habits. As a result, vacancies are up and demand is down as fewer transactions are occurring in the physical stores.


Other consequences have also emerged as a result of this increase in online shopping. First, shopping centers have become less about a place to make routine purchases and more about a meaningful experience where members of a community can spend several hours on a weekend or afternoon. Landlords are expanding their basic services by providing value-added features that are not easily duplicated online. For instance, shopping centers now provide consumers with personalized services like farmers markets, concerts and holiday-themed events. Centers have quickly become mini-oases, catering to all members of the family with waterfalls, light shows and cartoon characters. The retail tenants that are in demand are those that cannot easily be replicated through a computer transaction, such as movie theaters, restaurants or ones that provide products that consumers do not typically purchase via the Internet, including those found in grocery stores, drugstores and high-end retail locations.


Yes, retail is most definitely experiencing a bifurcated market. Cap rates are compressing for properties that are either anchored by a national grocery store or drugstore, or are viewed as a destination centerpiece for a community. Conversely, retail centers that do not offer unique services or have historically relied on retailers whose products are now more often purchased online are experiencing less demand and thus, higher cap rates.


Although the Internet has predictably affected the retail real estate market, it has perhaps unexpectedly increased the demand for industrial real estate. During the recent recession, industrial properties suffered greatly due to the rapid decline in economic activity. Recently, however, retailers that account for a large percentage of their business online are requiring large distribution centers and warehouses in order to rapidly distribute their products to consumers. As such, the market for infill industrial properties is extremely tight, with occupancy rates at record highs and cap rates on the steady decline.


The Internet does not necessarily mean doom and gloom for the real estate market. Granted, it has made it pretty convenient for people to buy the latest best-seller while sitting on the couch in their pajamas. Those landlords evolving and willing to make the necessary expenditures, however, are witnessing growth and a valuation increase in their properties across the retail and industrial sectors.

Press, Corporate, Real Estate
Sklar, Kirsh Form Corporate and RE Law Firm

LOS ANGELES—Attorneys Jeffrey Sklar and Andrew Kirsh have founded Sklar Kirsh LLP, a Los Angeles-based law firm concentrating on corporate and real estate transactional law.


Based in Century City, Sklar Kirsh LLP opens its doors with a team of nine attorneys, including Shawn Haghighi, Stephen Halper, Mary Ruth Hughes, Blake Fix, Justin Gaynor and Navid Morè. The attorneys say in a statement that clients include local, regional and national businesses in alternative energy, automotive, banking, consumer products, digital media, entertainment, food and beverage, healthcare and technology.


Sklar formerly had his own firm Sklar Law PC. Kirsh most recently was a partner with Beverly Hills, Calif.-based Raines Feldman.


Kirsh chairs the new firm’s Real Estate Department, which represents developers, operators, syndicators, investors, funds and lenders in a wide range of matters including acquisitions, dispositions, equity investments, syndications, fund formation, development, leasing, financing, note purchases and foreclosures. Sklar Kirsh LLP’s real estate clients include institutions, family offices, and regional owners and operators across all asset classes of real estate, including multi-family, retail, office, industrial, and hospitality.

Press, Corporate, Real Estate
Lawyers launch transactional boutique

In hopes of tapping into the Los Angeles transactional market, attorneys Jeffrey A. Sklar and Andrew T. Kirsh recently opened Sklar Kirsh LLP, a Century City firm that has grown quickly to eight attorneys.


The men formed the new firm after Kirsh joined Sklar’s previous firm, Sklar Law PC from Beverly Hillsbased Raines Feldman LLP.


Sklar, a corporate attorney and Kirsh, a real estate transactional lawyer, said their books of business are “synergistic” and will effectively serve the Los Angeles business community.


“The goal of the firm is to really focus on the middle-market businessperson; that’s the predominant business force in Los Angeles,” Sklar said. “We are ideally positioned to provide services in that range.”


Kirsh said that while the corporate practice has historically relied on the real estate practice for a variety of reasons, regardless of a company’s industry, real estate requires more corporate help than ever before.


The real estate industry is a lot more sophisticated in how they structure deals from the corporate side, which really necessitated me to do a joint venture,” Kirsh said. “The industry is getting into various corporate matters, such as fund formation, syndication and joint ventures.


The attorneys said they are confident in being able to serve mid-market corporate clients because all of the attorneys on staff have a big-firm pedigree and can now offer lower rates than their colleagues at larger firms.


“Los Angeles is more of an entrepreneurial, middle market business climate, and while they demand sophisticated lawyers, they don’t have the budget to pay [big firm] legal fees,” Sklar said. “New York might have one model and Chicago another, but Los Angeles is an entrepreneurial path.


Kirsh said the firm plans to add a ninth lawyer soon. The attorneys said their practices are booming, requiring the additional help.


Despite significant growth early in the firm’s history, Sklar and Kirsh said they want to remain a transactionalbased firm, which they said is rare


“You don’t see that as much in the boutique firms,” Kirsh said. “You get small litigation shops and some small full-service shops, but we’re going to focus on transactions.”


“From the corporate side, it’s an exiting time to be in Los Angeles,” Sklar added. “We’re very positive about the prospects of our firm, and we are confident towards the business community in Los Angeles.”

Press, Corporate, Real Estate
Sklar Kirsh Fills Price Gap

LOS ANGELES-Corporate transactional attorney Jeff Sklar and Andrew Kirsh, former partner with Beverly Hills, CA-based firm Raines Feldman, have founded Sklar Kirsh LLP, a corporate and real estate transactional firm here. The firm aims to provide a full slate of corporate, securities, M&A, real estate and finance capabilities that combine sophisticated legal services and exceptional value.


Kirsh, an experienced commercial real estate transactional attorney, tells GlobeSt.com that while it was difficult to leave Raines Feldman, he and Sklar were noticing a demand in the market that wasn’t being met by the larger law firms. “The last year was a very, very active year, culminating with an extremely active fourth quarter. With that, we’ve noticed that our clients, a growing number of them, were demanding sophisticated legal services—more so now than ever, given a lot of change in laws and changing ways to structure deals. But with the rates of law firms increasing every year, our clients and real estate companies just simply can’t afford that size legal fees any more. They don’t want to sacrifice in their legal services, but they don’t want to be paying the large rates that the large firms are charging.”


Sklar’s clients come from around the country and range in size from individuals and start-ups to emerging and middle-market companies. His expertise covers a wide range of industries, including alternative energy, automotive, banking, consumer products, digital media, entertainment, food and beverage, healthcare, hospitality, logistics, private equity, professional services, public relations, real estate and technology.


Kirsh and Sklar decided to merge their practices, forming a premier transactional-based law firm filled with lawyers that come from nationally and internationally recognized law firms and who have the pedigree of the top 10 or 20 law schools that clients expect for much better value. “Our client base ranges from national institutions to regional family offices, local operators and syndicators and high-net-worth individuals,” says Kirsh. “We’re doing deals that large law firms would be doing, and we go up against large law firms in JV agreements all the time. These are transactions that have purchase prices of $10 million to $50 million—they’re not small deals. With that said, we’ll also be able to handle deals for under $10 million that larger firms would not be able to work on.”


Sklar Kirsh will focus on the middle-market real estate industry in L.A., Kirsh adds. “The large financial institutions, banks and the largest of private-equity firms are going to continue to use large international law firms, but the vast majority of real estate players in this community are middle market.”

  • “Sklar Kirsh helped us achieve the impossible.  The SK team is incredibly strategic, accommodating, and downright brilliant.  They guided us deftly through a maze of complex decisions that would have otherwise been bewildering.  Every member of the SK team has been a true partner for us since day one, and they’ve worked around the clock to get us to our stated goal – to build an even stronger company that can do more good for its customers and staff."
    — Jack Li, CEO of Datassential

This testimonial does not constitute a guarantee, warranty, or prediction regarding the outcome of your legal matter.