The Bloc Expands Reach into Creative and Global Business Communities
The Ratkovich Company, National Real Estate Advisors (“National”) and Blue Vista Capital, today announced a trio of new leasing agreements to further bolster a diverse roster of global and creative-leaning office tenants at The Bloc. Award-winning architecture, engineering, planning and interior design firm, DLR Group; leading global commercial real estate advisory firm Newmark Grubb Knight Frank; and integrated architecture, landscape, and urban design firm, Studio One Eleven are the latest additions to The Bloc’s growing community in the heart of downtown Los Angeles.
“These new tenants will add to the growing hub of global enterprises laying down roots at The Bloc and contribute to the further growth of L.A.’s business epicenter,” said Wayne Ratkovich, president and CEO of The Ratkovich Company. “We’re excited to bring DLR Group, Newmark Grubb Knight Frank and Studio One Eleven to a thriving, truly creative work space at the center of the Downtown Los Angeles revitalization.”
“The Bloc’s transformation and its direct connection to the Metro make it an ideal location for businesses looking to attract talent from across Los Angeles, said Jeffrey Kanne, President and CEO of National. “Downtown’s restaurants and nightlife have had a tremendous renaissance and we’re seeing the creative job market follow in lock step.”
Architecture and design firms DLR Group and Studio One Eleven will join a host of other creative class businesses at The Bloc. DLR Group’s move to 35,000 square feet of office space in Downtown Los Angeles will consolidate its Santa Monica and Pasadena offices. Studio One Eleven – the architect for the retail and hotel portions of The Bloc, and master architect for the entirety of the development – will be occupying 2,500 sq. ft. of Downtown office space to service their L.A. based work.
“Downtown Los Angeles offers a continuous stream of inspiration with its mash-up of priceless historic architecture and emerging modern design concepts,” said Adrian Cohen, senior principal and California region leader at DLR Group. “As an international design firm, it’s a priority for us to have strong roots in the Los Angeles market – we’re excited to have a front-row seat to the rapid evolution of the Downtown area and look forward to the influence we can draw upon for the future.”
Adding to the building’s roster of real estate tenants, global commercial real estate advisory firm Newmark Grubb Knight Frank will also call The Bloc home, occupying 15,000 square feet of office space.
“As evidenced by the massive transformation of South Park and The Bloc itself, Downtown Los Angeles has been a hotbed of development and urbanization in recent years,” said Josef Farrar, executive managing director at Newmark Grubb Knight Frank. “Our move to The Bloc provides an invaluable opportunity to immerse ourselves at the core of one of the most fun and active areas in the global property development landscape.”
With 1.8 million square feet of combined retail, office and hospitality space, The Bloc is undergoing $180 million in renovations and become vibrant gathering place where Angelenos and visitors alike can work, sleep, shop and eat at any time of the day or night.
About The Bloc
A landmark property at the heart of downtown Los Angeles, upon completion, The Bloc will bring Angelenos together in a vibrant, open-air, truly urban center. Acquired by The Ratkovich Company with partners National Real Estate Advisors and Blue Vista Capital in June 2013, The Bloc inhabits a full city block and is undergoing $180 million in renovations to provide a curated experience of unique shops, premier retailers and restaurants. Originally built in 1973 by architect Charles Luckman, the development will be the single largest mixed-use property in Los Angeles where consumers can work, sleep, shop and eat. It is anchored by Macy’s, the newly re-opened Sheraton Los Angeles Downtown Hotel, and a 708,000 square foot luxury office tower. The Bloc will be LEED certified and will be the first full city block designated as a Delos WELL Building Project in the world. Construction began in the first quarter of 2014 and is anticipated to be completed in late 2015. For more information, please visit www.theblocla.com or follow us at https://twitter.com/TheBlocLA.
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 Google/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.
About National Real Estate Advisors
National Real Estate Advisors has $2.5 billion in net assets under management invested in commercial and multifamily real estate valued at $7.3 billion (as of 3/31/14).Through its open-end fund and separate account for pension fund clients, the company invests in major U.S. urban markets, using a build-to-core strategy in large-scale development and redevelopment projects. National builds investment portfolios of stabilized modern property assets—apartment, office, mixed-use, industrial, data centers and hotels—with design features, technological enhancements, and amenities that can drive high tenant demand and create value over time. Utilizing its wholly-owned affiliate, National Real Estate Development LLC, the company also directly develops major projects for client accounts and partners. The firm is a subsidiary of the National Electrical Benefit Fund. For more information visit, www.natadvisors.com.
About Blue Vista
Blue Vista Capital Management, LLC, founded in 2002 and headquartered in Chicago, has raised in excess of $1.1 billion of institutional equity, and currently manages four closed-end funds, two separate accounts and one joint venture relationship with approximately $5.25 billion of assets under management. The firm’s clients include institutional investors, pension plans, insurance companies, the world’s largest university endowment and select family offices and high net worth investors. For more information on the firm, please visit www.bluevistallc.com.