The $7.9-million Taft Broadcasting Center, built through the so-called "pre-bid/pre-buy" process, has opened in North Hollywood.
The five-story building at 3300 Cahuenga Blvd. has 100,000 square feet of office space and 100,000 square feet of parking. It was developed by Los Angeles-based Wolff Sesnon Buttery Development Co. and designed by Fields & Silverman, a Los Angeles-based architectural firm that also administered the pre-bid/pre-buy process.
In such a process, the developer and architect form a team that bids for large components of the project directly instead of through a subcontractor, said Fields & Silverman President Eddie Fields. These components typically include steel, curtain wall, elevators, mechanical equipment and electrical systems--items which Fields said typically account for about 40% of a mid-rise building's total construction cost.
The team can usually negotiate lower costs because it pushes for reduced prices, assures the supplier a firm pre-sale, and adapts the project to the suppliers' inventory or proprietary specifications, Fields said.