Ratkovich Cracks DTLA Office Leasing

LOS ANGELES—The Ratkovich Co. has leased 300,000 square feet of office space at the Bloc in Downtown Los Angeles since beginning leasing efforts earlier this year. This leasing activity accounts for 13% of the absorption in Downtown Los Angeles, while the Bloc only has 4% of the total leasable square footage. The tenants are all creative leaning, but from multiple industries, including a technology developer, concierge medical practice and an office furniture innovation company.

“Our strategy was simple,” Clare De Briere, CEO and EVP at the Ratkovich Co., tells GlobeSt.com. “We wanted to create the healthiest, most efficient and most convenient vertical office campus for creative-leaning companies in downtown Los Angeles. We positioned The Bloc as downtown's living room – sitting on a transportation hub with direct access to the 7th Street Metro station, a Metro bike stop as well as long- and short-term car rentals, and adjacent to the new Sheraton Grand Los Angeles, a completely renovated Macy's flagship store, and a bevy of new shops and restaurants where every desire can be met.”

The most recent tenants to sign leases at the property include engineering firm KPFF, consulting firm Placeworks, Krug Furniture, One Medical, MediaAlpha, Arc Capital Partners and Mance Media. These are the types of tenants that the Downtown Los Angeles market is looking to attract. “The Bloc is out pacing the market because we are offering a truly integrated, authentic downtown experience in an efficient, healthy and creative environment,” adds De Briere.

Although these tenants have gravitated toward the space, De Briere says that the property isn't looking for a specific type of tenant and is open to any tenant that feels the Bloc would be a good fit for them. “While we've certainly embraced the creative leaning companies who value innovation, growth and the health and wellbeing of their employees, The Bloc is open to everyone in Los Angeles,” she adds. “We're proud of the fact that organizations, which are prioritizing well-rounded environments for their employees are the ones who have been attracted to The Bloc.”

While De Briere would not comment on their projections for leasing the remaining space, she did says that demand has not waned. “From the time that we announced the concept of The Bloc, the project has attracted heavy attention from the most innovative and creative-leaning companies, which are looking to grow their businesses at an amenity-rich, transportation hub,” she says. “That demand has only grown, particularly as Metro has expanded its reach into west Los Angeles and more and more retail businesses are expanding along 7th Street.”

The Bloc will unveil the city's first direct Metro portal and a rooftop lounge this winter. Both amenities are expected to boost interest at the property.

LOS ANGELES—The Ratkovich Co. has leased 300,000 square feet of office space at the Bloc in Downtown Los Angeles since beginning leasing efforts earlier this year. This leasing activity accounts for 13% of the absorption in Downtown Los Angeles, while the Bloc only has 4% of the total leasable square footage. The tenants are all creative leaning, but from multiple industries, including a technology developer, concierge medical practice and an office furniture innovation company.

“Our strategy was simple,” Clare De Briere, CEO and EVP at the Ratkovich Co., tells GlobeSt.com. “We wanted to create the healthiest, most efficient and most convenient vertical office campus for creative-leaning companies in downtown Los Angeles. We positioned The Bloc as downtown's living room – sitting on a transportation hub with direct access to the 7th Street Metro station, a Metro bike stop as well as long- and short-term car rentals, and adjacent to the new Sheraton Grand Los Angeles, a completely renovated Macy's flagship store, and a bevy of new shops and restaurants where every desire can be met.”

The most recent tenants to sign leases at the property include engineering firm KPFF, consulting firm Placeworks, Krug Furniture, One Medical, MediaAlpha, Arc Capital Partners and Mance Media. These are the types of tenants that the Downtown Los Angeles market is looking to attract. “The Bloc is out pacing the market because we are offering a truly integrated, authentic downtown experience in an efficient, healthy and creative environment,” adds De Briere.

Although these tenants have gravitated toward the space, De Briere says that the property isn't looking for a specific type of tenant and is open to any tenant that feels the Bloc would be a good fit for them. “While we've certainly embraced the creative leaning companies who value innovation, growth and the health and wellbeing of their employees, The Bloc is open to everyone in Los Angeles,” she adds. “We're proud of the fact that organizations, which are prioritizing well-rounded environments for their employees are the ones who have been attracted to The Bloc.”

While De Briere would not comment on their projections for leasing the remaining space, she did says that demand has not waned. “From the time that we announced the concept of The Bloc, the project has attracted heavy attention from the most innovative and creative-leaning companies, which are looking to grow their businesses at an amenity-rich, transportation hub,” she says. “That demand has only grown, particularly as Metro has expanded its reach into west Los Angeles and more and more retail businesses are expanding along 7th Street.”

The Bloc will unveil the city's first direct Metro portal and a rooftop lounge this winter. Both amenities are expected to boost interest at the property.