FEBRUARY 20, 2018
USC Leases 26,000 SF in ASB/Blatteis & Schnur AT MATEO Development Roski School of Art and Design Moving into Arts District Mixed-Use Project
LOS ANGELES, CA – ASB Real Estate Investments and Blatteis & Schnur announced today that USC’s Roski School of Art and Design has leased the right for approximately 26,000 square feet of space in the joint venture’s AT MATEO office/retail development located in the center of the Arts District at the corner of Palmetto and Mateo Streets. Roski, the oldest art school in Southern California dating to 1883, will occupy ground floor space at 555-581 Mateo Street. The long-term lease follows Soylent, the meal supplement technology company, moving into 30,000 square feet of space at the development earlier this year.
AT MATEO, the only new, ground-up creative office project in the submarket, showcases approximately 195,000 square feet of space in four buildings on a former industrial site, designed in keeping with surrounding heritage Arts District architecture. The two- and three-story buildings feature laminated wooden beams and brick interiors with high ceilings, floor-to-ceiling glass, and roof decks. Walkways are cobblestoned with open-air paseos between the buildings. The development also has a four-level, 540-car parking structure which includes bike parking and electric vehicle charging stations.
Robert Schnur, Co-Chairman of Blatteis & Schnur, said: “Bringing USC and the Roski School into AT MATEO highlights the growing desirability and attractiveness of locating in the Arts District. We are excited about the considerable interest and leasing momentum in our project.”
ASB President and CEO Robert Bellinger, added: “AT MATEO is quickly establishing itself as a signature lifestyle project, which will anchor a further Arts District demand wave from cutting edge businesses and important local institutions like the Roski School.”
Brokerage professionals Peter Collins, Mike Condon, Jr., Andrew Tashjian, and Kelli Snyder with Cushman & Wakefield are the exclusive leasing agents for AT MATEO’s office space and negotiated the deal on behalf of Blatteis & Schnur, Inc. and ASB Real Estate Investments. USC Roski School of Art and Design was represented by Rocky Binswanger and David Freitag from CBRE. For more information, visit www.atmateo.com.
About ASB Real Estate Investments
ASB Real Estate Investments (ASB), a division of ASB Capital Management, LLC, is a leading U.S. real estate investment management firm with $7.7 billion* in gross assets under management for over 340 institutional clients. Headquartered in Washington DC, ASB invests in major urban markets across the country, concentrating in office, multifamily, retail and industrial properties. ASB manages the ASB Allegiance Real Estate Fund, its sole vehicle for core investing; the ASB Meridian Real Estate Funds, a series of low-leverage value creation vehicles; and a development separate account. For more information about the company, visit www.asbrealestate.com.
*as of December 31, 2017
The information provided in the release does not constitute an offer to sell or buy securities or the solicitation of an offer to sell or buy securities.