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Putting Tenants First In Creative Office

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When it comes to creative office, it is all about what the tenant wants, according to The Ratkovich Co. CEO Wayne Ratkovich.

The Ratkovich Company CEO Wayne Ratkovich
The Ratkovich Co. CEO Wayne Ratkovich

"Listen really, really carefully to your tenant," he said. "Make sure you know what they want, and if you do, you'll have good success."

The Ratkovich Co. owns The Bloc, where Bisnow's recent creative office event was held. The Bloc occupies an entire block in DTLA and has a 730k SF office building.

The Bloc in downtown Los Angeles
The Bloc in downtown Los Angeles

"We're appealing to people who love the urban environment," Ratkovich said.

The Bloc also includes a 496-room Sheraton Grand Hotel and about 430k SF of retail plus parking. All four of those uses are being remodeled at the same time and are on the way to being completed, according to Ratkovich.

The amenities offered in and around an office environment are key, event speakers said.

LA Creative Office Event
Kilroy Realty executive vice president Rob Paratte, Legend 3D chief financial officer Mark Steffler and panel moderator, Studio One Eleven founding senior principal Alan Pullman

Kilroy Realty executive vice president Rob Paratte said open spaces continue to be the driving force in attracting tenants. That could include a roof deck or an outdoor plaza, he said.

Making lobbies look more like living rooms with wireless lounge seating areas also lures tenants, according to Paratte.

Columbia Square in Hollywood is Legend 3D's headquarters. The building is LEED-certified, something that can also be attractive to tenants.

Legend 3D chief financial officer Mark Steffler said what is appealing to tenants is what appeals to their employees.

LA Creative Office Event
Kilroy Realty executive vice president Rob Paratte, Legend 3D chief financial officer Mark Steffler and panel moderator, Studio One Eleven founding senior principal Alan Pullman

Steffler said many younger employees are interested in social initiatives and what his firm is doing to help the environment. The average age at his company globally is 28.

It is also important to have outdoor spaces and a complex that allows them to go to a bar after work or a nearby restaurant during the day — something the company has with its location at Columbia Square.

"They want it to feel a little more like a community where they can interact with others," Steffler said.

LA Creative Office Event
LA Creative Office Event

Paratte said many younger workers also are looking for dog-friendly environments.

He acknowledged creative office is evolving, but has morphed into something more than simply a trend.

"This is traditional office now," he said.