Eastern Los Angeles Regional Center (ELARC) — a nonprofit organization that coordinates and provides community-based services to individuals with developmental disabilities — inked a decade-long lease at The Alhambra, a 1-million-square-foot office campus located 1000 Fremont Ave., just six miles from downtown.
The deal will see ELARC increase its footprint at The Alhambra by 23,345 square feet, bringing its total to just under 147,000 square feet. This latest deal brings the campus’ occupancy rate to 90%.
“ELARC has been at this location for 27 years,” said ELARC Executive Director, Gloria Wong. “In 1996, we started with 31,704 square feet of office space to accommodate a total of 80 employees. Over our 27 years as a tenant, we have grown our office space by 463%. The Alhambra is the home base for 390 ELARC employees.”
A CBRE team comprised of Kevin Duffy, Damon Feldmeth, Natalie Bazarevitsch, John Zanetos, Chris Penrose and Heather Dulley represented the landlord during the negotiations, while David Kutzer with Cresa represented ELARC.
The 40-acre campus is owned and managed by The Ratkovich Company, which acquired the property for $156.6 million six years ago. The owner then obtained a 10-year, $150 million CMBS refinancing in May 2019 from Wells Fargo.
The Alhambra’s tenant roster includes the likes of AHMC Healthcare, Alliant International University, Cal State University Los Angeles, Los Angeles County’s district attorney, the county’s Department of Public Health, Platt College Los Angeles and the University of Southern California Keck School of Medicine.
“Companies are increasingly valuing user-friendly, low-rise suburban office campuses, and we are seeing that with our leasing activity here and at other properties, as well,” Ratkovich CEO Brian Saenger said. “The entire post-COVID office story is not all doom and gloom.”
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