Tenant renewals and expansions account for more than 132,000 square feet of space at the mixed-use urban campus
LOS ANGELES (May 13, 2014) – The Ratkovich Company today announced two core tenants at The Alhambra, a premier 45-acre, mixed-use property located in the City of Alhambra, have renewed and expanded their leases. The Alhambra has worked with the Eastern Los Angeles Regional Center (ELARC) and Platt College to develop spaces that support their growth and allow them to continue to serve the local community.
“We take great pride in the fact that The Alhambra nurtures and grows with our tenant partners,” said Wayne Ratkovich, founder and president of The Ratkovich Company. “With more than 27 years of tenancy between them, our continuing relationship with the Eastern Los Angeles Regional Center and Platt College reaffirms our commitment to ensuring that our partners maintain their roots in the community.”
Eastern Los Angeles Regional Center (ELARC), one of The Alhambra’s longest-standing tenants, has signed a 10-year renewal which will allow ELARC to call The Alhambra home through 2026. The new deal will also expand its space to 91,728 square feet, allowing it to continue to coordinate and provide community-based services to Californians with developmental disabilities and their families. Over the years, The Alhambra’s open layout and campus structure has given it the flexibility to work with ELARC to renovate and design office spaces and resources for consumers as its needs have changed. When ELARC first moved into The Alhambra in 1996, it served more than 4,000 Californians a year; today, it has doubled in size, serving more than 9,800 people a year. Kevin Duffy with CBRE represented The Ratkovich Company with David Kutzer of Newmark Grubb Knight Frank representing Eastern Los Angeles Regional Center.
“As the nature of ELARC’s work continues to evolve, we’re grateful that our relationship with The Ratkovich Company and their flexibility has allowed us to maximize our impact within the community,” said Gloria Wong, executive director of the Eastern Los Angeles Regional Center. “We look forward to celebrating our 30th anniversary as a neighbor to those we serve here at The Alhambra.”
Further bolstering the tenured roster of educational institutions at the Alhambra, Platt College extended its lease term by seven years to 2021. Platt College has also expanded its space to a total of 40,812 square feet, making room for additional classroom facilities as the college’s enrollment has grown from under 200 students to more than 500. Over its 10 year tenancy at The Alhambra, the institution has added several new programs to their degree offerings, including a Respiratory Therapy program, a Diagnostic Medical Sonography (Ultrasound) program and a Veterinary Technology program. John Zanetos with CBRE represented The Ratkovich Company with Jeff Woolf of CBRE representing Platt College.
“Platt College prides itself on providing a diverse education offering to Southern California residents,” said Akeem Ayeni, chief executive officer for Platt College. “We’re appreciative of The Ratkovich Company’s commitment to a shared vision of continued growth and service for the Alhambra community.”
About The Alhambra
The Alhambra is a 45-acre mixed-use urban community in the City of Alhambra owned and operated by a partnership of The Ratkovich Company and AIG Global Real Estate. The campus was originally developed in the 1920s as the headquarters for petrochemical engineering firm C.F. Braun and Co. The Ratkovich Company purchased the site in December 1999 and completed a successful $56 million renovation to protect, enhance and expand the campus into a truly integrated urban community. In 2012, The Alhambra received a LEED Gold certification. For more information on The Alhambra, visit www.thealhambra.net.
About The Ratkovich Company
The Ratkovich Company is a Los Angeles development company that engages in both new development and the imaginative reuse of existing buildings. The company has completed, or has under development, nearly 18 million square feet of commercial space in Los Angeles County, including The Bloc, a 1.8 million square foot, mixed-use property at the heart of downtown Los Angeles that will become the premier urban retail, office and hospitality destination. The company has also redeveloped The Alhambra, a 45-acre mixed-use urban community in the city of Alhambra, and The Hercules Campus at Playa Vista, a landmark property comprised of 11 historic buildings, including the hangar where Howard Hughes’ legendary Spruce Goose was built. The Hercules Campus is home to YouTube, Konami and 72andSunny. The Ratkovich Company has won numerous awards for its restoration of Los Angeles landmarks, including the art deco Wiltern Theatre and adjacent Pellissier building; the iconic 31-story 5900 Wilshire in Miracle Mile; the Chapman Market and the city of Glendale's Alex Theatre. The James Oviatt and Fine Arts buildings were also both awarded national landmark status after successful renovations by The Ratkovich Company. For more information, visit http://www.ratkovich.com.