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Commercial
Los Angeles

Ratkovich plans tech campus redevelopment near Culver City

Developer buys 73K sf Bowcraft Collection for undisclosed price

The Ratkovich Company's Brian Saenger and 5950-5978 Bowcroft Street (LinkedIn, Google Maps)
The Ratkovich Company's Brian Saenger and 5950-5978 Bowcroft Street (LinkedIn, Google Maps)

The Ratkovich Company has teamed up with a New York bank to buy 73,000 square feet of industrial buildings in Baldwin Hills/Crenshaw with plans to create a new tech campus.

The Downtown Los Angeles-based developer and J.P. Morgan Global Alternatives bought the buildings at 5950-5978 Bowcroft Street, Variety reported. Terms of the deal were not disclosed.

The seller of the so-called Bowcraft Collection was South Division Jefferson Industrial Center, a limited liability company controlled by Justin and David Altemus, whose family has owned the property since it was developed in the 1950s.

It was sold through their brokerage/property management arm, The Altemus Company.

The row of linked, single-story buildings is located just east of the Baldwin Hills Scenic Overlook and Culver City, near Jefferson and Obama boulevards. PropertyShark says they’re suitable for light manufacturing.

The Ratkovich Company and the affiliate of J.P. Morgan Asset Management acquired the 3-acre property with plans to redevelop it into a tech office campus, similar to others in the area occupied by Amazon, Apple, WarnerMedia, Sony, TikTok, Nike and Adobe, according to Variety.

Ratkovich Company plans to have the property ready for prospective tenants to view by the middle of next year, with conversions to begin in advance for eager companies.

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“Downtown Culver City and its adjacent areas are the most talked-about office market in the region, and the Bowcroft Collection is emblematic of the type of property that entertainment and tech companies are looking for,” Brian Saenger, CEO of The Ratkovich Company, told Variety.

In these industries, he said, there is tremendous value in low-rise campuses, not highrise towers, and the Bowcraft property can be a showpiece for an entertainment company looking to make a statement.

“The goal is to attract those types of tenants who are willing to come back to the office, have their employees back in the office and provide a unique environment for their employees,” Saenger said.

The Ratkovich Company brought the Hercules Campus in Playa Vista to life for Google and YouTube Studios. Google occupies Spruce Goose, a historic airplane hangar converted into a 450,000-square–foot office and event space.

Ratkovich also aims to turn a mile-long stretch of San Pedro waterfront into a West Harbor retail and entertainment destination. Its 42-acre West Harbor project is redeveloping the former Ports O’ Call Village.

— Dana Bartholomew

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