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AN INTRODUCTION TO LACRA The Los Angeles Commercial Realty Association (LACRA) was incorporated in 1983 as a vehicle for commercial real estate brokers and landlord representatives to exchange ideas and forge relationships with a group of real estate professionals whose common focus was leasing. The core group began several years earlier when ten office brokers held an informal breakfast meeting to promote their projects and discuss deals and listings. During its second year, the group decided to invite owners' representatives to join the monthly discussions and add their perspective on lease transactions. Each firm was allowed to have one representative member. The group's networking potential caught the interest of the brokerage community at large, and LACRA counted fifty members by the end of the eighties. Today, LACRA has an active membership committee and an ambitious slate of meetings, seminars, and activities designed to enhance the group's visibility and establish it as an integral part of the real estate community. LACRA's membership has grown to 150 members, and its geographic distribution now includes Downtown Los Angeles, the South Bay, the Westside, and the San Fernando Valley. LACRA's success in attracting and retaining the leading marketing professionals in metropolitan Los Angeles can be attributed to its unique character as a network for office brokers and landlord representatives. The Board of Directors and the members have consistently voted to keep the membership limited to brokers and landlords in order to continue the frank and cohesive discussions achieved when all are bound by a common business intent. Over the past several years, LACRA has involved the real estate community at large in its seminars, annual sports tournaments, and the dinner and auction it hosts each year for the Broker Challenge. LACRA has organized in-depth seminars on the latest legal aspects of real estate transactions, understanding tenant improvement issues from base building systems to the competitive bidding process, learning the characteristics of the successful Mega-Deal, dealing with properties in bankruptcy, and showcasing the leading mayoral candidates. Monthly meetings focus on issues of interest to the brokerage and landlord communities. LACRA also offers a Fireside Chat series, special evenings of informal conversation with leading real estate figures. Fireside Chats are offered to members only, and attendance is limited to a small group in order to assure that a meaningful interchange can take place. LACRA has been an active supporter of Weingart Center and Chrysalis, both employment assistance agency for the homeless, and of Family Service of Santa Monica, which offers a broad range of counseling services. Funds generated by LACRA's sporting events and the Broker Challenge support these worthwhile charities. LACRA was founded on the premise that personal relationships are the key to facilitating deals. All events provide an exceptional opportunity for brokers and landlords to communicate their distinctive perspectives and forge lasting relationships with colleagues. Our purpose is to elevate the professional, ethical, and educational standards of those engaged in marketing real estate in Greater Los Angeles. LACRA's members enjoy an excellent reputation, demonstrate significant experience and competence in the commercial real estate business, and are actively engaged in leasing and sales. |