Ratkovich signs Cal State to new lease at massive Alhambra campus

Ratkovich and campus' 2 other owners are planning a large resi development there

Ratkovich Company CEO Wayne Ratkovich and the Alhambra campus
Ratkovich Company CEO Wayne Ratkovich and the Alhambra campus

Ratkovich Company has signed California State University, Los Angeles, to a 12,000-square-foot lease in Alhambra.

The university is leasing the space at The Alhambra, a 40-acre campus in Downtown Alhambra, joining a handful of other higher education institutions there, including the USC Keck School of Medicine, Platt College, and Alliant International University. The County of Los Angeles Parks and Recreation Division also leases there.

The campus also includes conference rooms, a 170-seat auditorium, and a 50,000-square-foot LA Fitness gym. There is a convenience store, car wash, and dry cleaners on campus as well.

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Ratkovich, a developer based in Downtown L.A, plans to expand the property.

The firm filed plans for a multifamily development it plans to build in three phases with more than 1,000 units for rent and purchase. The project is dubbed “The Villages at the Alhambra” and would be developed on parking lots there.

Ratkovich currently handles day-to-day operations and leasing at the campus. Last year it sold a majority stake to ELITE International Investment Fund and Future Land Holdings. A year earlier, a $130 million loan with Goldman Sachs on the property was transferred to special servicing. Ratkovich purchased the campus in 1999.