The Ratkovich Company is closer and closer to reaching full capacity at its 45-acre mixed-use campus at 1000 South Fremont Avenue in Downtown Alhambra.
The development firm’s updated lease expansions, extensions and new leases total 200,000 square feet. This means that the campus’ occupancy is now about 70 percent. According to GlobeSt, Ratkovich expects that figure to grow to 90 percent by 2017.
Most of this growth can be attributed to expansions and extensions. New tenants include FirstSteps for Kids and the American College of Commerce & Technology, both leasing an average of 6,500 square feet in office space.
“Despite losing two large tenants to bankruptcy and reorganization shortly after the recession, we have had consistent occupancy through the downturn,” Clare de Briere, Ratkovich’s COO and EVP, told GlobeSt.com.
The success of the campus, called the Alhambra, is a contrast to the company’s troubles at the Bloc, its 1.1 million-square-foot office and retail redevelopment in downtown L.A. The high-profile project faces cash problems and the possibility of a default on its loans.