Ratkovich Announces 118K SF Office Renewal With LA County Officials
Offices include District Attorney and Department of Public Health
Right on the heels of announcing a new CEO, The Ratkovich Company has another major announcement with a sizable lease renewal at The Alhambra office campus in Southern California.
Departments for the County of Los Angeles — including the Department of Public Works, district attorney’s offices, and the Department of Public Health — re-signed for 117,846 square feet of office space. The county has been a tenant since 1999.
Additionally, Alhambra Hospital Medical Center (AHMC) signed to add two years to its lease at 16,767 square feet. The two renewals follow the University of Southern California’s move to expand its lease at The Alhambra to 87,852 square feet in October.
The Ratkovich Company acquired the 40-acre, mixed-use, urban community about six miles east of Downtown L.A. at 1000 South Fremont Avenue in Alhambra in 1999, and embarked on a $56 million renovation. About four years ago, Ratkovich formed a new ownership group for the property with ELITE International Investment Fund and Future Land Development Holding Company. In 2019, Wells Fargo provided $150 million in commercial mortgage-backed securities (CMBS) refinancing for the property.
CBRE (CBRE)’s Damon Feldmeth represented The Alhambra in the County of L.A. agreement. In the AHMC lease renewal, CBRE’s Kevin Duffy represented The Alhambra.