Eastern Los Angeles Regional Center has leased an additional 7,771 square feet at The Alhambra.
The new lease, announced earlier this week by The Ratkovich Company, will expand ELARC's space at the 40-acre property to nearly 115,000 square feet.
"We appreciate ELARC’s continued loyalty and take great pride in supporting them as their needs evolve,” said Kevin Duffy, a senior vice president for CBRE who represented The Alhambra in the deal. “Over the years, The Alhambra's open layout and attractive campus structure have given it the flexibility to work with ELARC to renovate and design office spaces to accommodate their growing clientele and expanded services.”
“When ELARC first moved into The Alhambra in 1996, we served more than 4,000 Californians a year,” said Gloria Wong, Executive Director, Eastern Los Angeles Regional Center in a statement. “Today, our client base has more than tripled to 12,061."
Originally built in the 1920s as the headquarters of a petrochemical engineering firm, The Alhambra was converted by The Ratkovich Company into a mixed-use campus starting in the early 2000s. It is now home to tenants including ELARC, the USC Keck School of Medicine, and Cal State Los Angeles, which recently signed a lease to open a satellite campus on the property.
Ratkovich is also pursuing the development of more than 1,000 apartments and condominiums on property wrapping the office campus.
Marketing agency NVE has leased approximately 13,000 square feet of office space on the eighth floor of the Pacific Design Center's Green Building.
“We are pleased to welcome NVE, a trendsetting production and marketing firm, to the Green Building,” said Charles S. Cohen, CEO and President of Cohen Brothers Realty Corporation, which owns the Pacific Design Center. “NVE will be joining other innovative companies in a creative ambiance that provides the ideal environment for entertainment-related tenants."
Mark Horowitz, a senior vice president of Cohen Brothers Realty Corporation, represented the landlord in the lease negotiation. NVE was represented by Matthew Breliant of Breliant Realty.
The L.A. Business Journal reports that events promoter and venue operator Live Nation has signed a lease for 95,217 square feet of office space at The Post in Beverly Hills.
The former Beverly Hills Post Office, located at 325 N. Maple Drive, is being redeveloped by Worthe Real Estate Group with a mix of office space and ground-floor retail.
Live Nation is headquartered out of a nearby building at 9348 Civic Center Drive.
- This Week in Leases Archive (Urbanize LA)