Drachman: One of the big things we have planned is to take all the vacant suites and develop a spec-suite program. The building lends itself to smaller tenants, so we'll lease them out that way. We're also going to re-landscape the project, put in new outdoor furniture and Wi-Fi, and there's a common area with a central water feature around which we can create better outdoor amenity space for tenants. We also have plans to clean up the corridors and redo some of the interior lighting. In projects with smaller suites, you have to put them into nice, clean spec-suite condition where the tenants can lease the space and move in immediately.

GlobeSt.com: Are joint ventures such as this becoming more common in the market? What about for your firm?

Drachman: We have been doing more of these types of ventures with Greenlaw Partners. I don't know if these are becoming the norm, but our plans are to continue to acquire value-add office assets in Southern California. This is our first venture with CrossHarbor, but we anticipate that we will continue to acquire assets with them.

GlobeSt.com: What other markets are you eyeing in Southern California?

Drachman: Orange County, San Diego and L.A. We are always open to finding assets that we can acquire below replacement cost at a value position where you can execute a successful business plan. We are very excited about it. It's a great time to be buying in the San Gabriel Valley, and it's a great time to be buying value-add office products in Southern California. When you look at where tenants' general economy is, vacancies have been trending downward, rents are continuing to rise, tenants are expanding and there's a positive outlook for the next 24 to 36 months.