The Alhambra, a 40-acre mixed-use urban community in Alhambra owned by the Ratkovich Company, has recently seen two of its longtime tenants increase their office spaces by over 40,000 square feet combined. The County of Los Angeles has expanded their lease to include an additional 22,682 square feet for a total leased space of 329,770 square feet. At the same time, Eastern Los Angeles Regional Center (ELARC) renewed and expanded their existing space by adding on an extra 17,518 square feet for a total leased space of 164,327 through the year2035. With these expansions and renewals in place,the overall occupancy rate at The Alhambra is now at93.12%.
JLL represented the County of Los Angeles in this transaction while Cresa represented ELARC,a private nonprofit organization under contract with California Departmentof Developmental Services.SVP Kevin Duffy from CBRE acted as representative for TheAlhambra during negotiations with ELARC.
Despite current challenges facingthe office leasing sector,the success story continues atThe Alhambrathanks to its low density,park-like setting,and green technology.The property’s responsive managementand strong community involvement have been key factorsin attracting and retaining tenants,such as those mentioned above.”While many properties are struggling,” said Duffy,”TheAlhambrain contrast,is thriving.”
