Commercial Real Estate Community Flocks to The Bloc
Already the darling or a resurgent Downtown Los Angeles, Ratkovich's Bloc seems to be hitting it off with players in the business. The latest commercial real estate business to sign on as an office tenant is the architecture firm behind the mega development: Studio One Eleven. The master architect of the $180M reno of Macy's Plaza has grabbed about 2k SF on the 5th floor of 750k SF office portion of the project. The retail portion has been getting traction as well.
Studio One Eleven founding senior principal Alan Pullman says expanding with an office in Downtown Los Angeles will allow the firm to focus on strengthening the redevelopment of the city. The firm joins Newmark Grubb Knight Frank, The Urban Land Institute and DLR Group as real estate tenants. At a recent Bisnow event, Ratkovich Co COO Clare de Briere told us the project is really about making something that was depressing into a true attraction for the city. And knowing that Brookfield has the stranglehold on high-rise office tower space in Downtown, Clare says the office portion of The BLOC will be very different. In fact, it'll be the first Class-A office property with a dog policy.