The Bloc Announces First Retail Tenants

Macy's and Wingtip are First to Cement The Bloc as Los Angeles' Fashion Destination

Dec 05, 2014, 06:01 ET from The Ratkovich Company

LOS ANGELES, Dec. 5, 2014 /PRNewswire/ -- The Ratkovich Company with partners National Real Estate Advisors and Blue Vista Capital, today announced that Macy's at The Bloc will receive a major upgrade to become a downtown Los Angeles flagship store. The partners will also bring San Francisco-based men's emporium Wingtip to The Bloc, along with a new, currently unnamed, retail gallery concept conceived in collaboration between CNTRLgroup and Otto Design Group. The Bloc is a cornerstone property in the heart of downtown Los Angeles that will become a premier urban destination for the city.

"Each of these three retailers represents exactly the types of shopping experiences we envisioned for The Bloc," said Wayne Ratkovich, president and CEO of The Ratkovich Company. "These partners give Angelenos a taste of the modern, lifestyle-oriented brands they can look forward to at The Bloc, all presented in a fresh and relevant way. You can be sure we'll have many more unique retail concepts to unveil as we bring our vision for The Bloc to life."

Jeffrey J. Kanne, President and CEO of National, said: "We are realizing our objective of creating a new and exciting center of gravity in downtown, generating further growth and activity in one of the country's most resurgent markets."

Macy's, Inc., one of the nation's premier omnichannel retailers, will transform its 250,000 square foot store into an open and inviting environment with refreshed decor and visual presentations in every department. Macy's will add a new furniture department to serve the needs of the expanding downtown residential community and enhance its cosmetics, housewares and textiles offering. Shoppers will have direct access to Macy's via entrances on all four levels, including a direct connection to the new nine-screen, 800-seat Alamo Drafthouse Cinema. Macy's remains open through construction; all renovations will be completed in time for the grand opening of The Bloc in October 2015.

"Macy's remains committed to delivering the fashion brands and unparalleled customer service experience our customers expect from us," said Michael Ellmann, district vice president with Macy's. "Visitors to our new store will be 'wowed' by our new and expanded home offering and reinvented cosmetics department, and we look forward to creating new experiences with them at The Bloc."

Wingtip, hailed as a one-stop shop for the modern gentleman, will open its first Los Angeles location in October 2015. Part Oviatt and part Abercrombie & Fitch, Wingtip is a  men's haven, offering custom and ready to wear clothing, leather goods, cigars and cigar accessories, rare single malt scotches, fly fishing gear and barware, among other obsessions. Wingtip will also bring to L.A. its highly-coveted, members only social club to the office tower's upper floors. The Club at Wingtip will be open to men and women and feature a private bar, themed event space and meeting rooms, wine storage and smoking rooms, plus other unique member benefits, all with 180 degree views of downtown L.A.

"Creating a curated experience for the modern gentleman has been my passion for more than 10 years," said Ami Arad, founder of Wingtip. "The Bloc's vision and aesthetic made it the natural fit in the evolution of our brand and we look forward to serving the men of Los Angeles."

The new, currently unnamed retail gallery concept debuting at The Bloc is a collaboration between CNTRLgroup and Otto Design Group, two creative agencies based in downtown Los Angeles. CNTRLgroup is known for the biannual design fair Parachute Market and retail concepts such as Apolis and Alchemy Works, while Otto Design Group has designed some of the most influential retail environments in the world.

"Our vision for a new multi-brand retail concept is to present fashion as art, in a non-linear environment that treats visitors to a unique experience," said Douglas Geller, spokesperson for CNTRLgroup. "We believe that anything interesting has to stem from a place with no rules."

The retail gallery will host a variety of community engaging fashion and lifestyle-oriented events within the gallery itself and around The Bloc's public square. The project will feature a dynamic collection of niche and established brands presented in a completely new way.

"The Bloc continues to attract top tenants in fashion, dining, business and entertainment due in large part because The Ratkovich Company provides these companies with the management support, amenities, and freedom they need to thrive," said Wayne Ratkovich. "We look forward to welcoming Macy's to its new space, the Los Angeles debut of Wingtip, as well as CNTRLgroup and Otto Design Group's new retail concept."

About The Bloc
A landmark property at the heart of downtown Los Angeles, upon completion, The Bloc will bring Angelenos together in a vibrant, open-air, truly urban center. Acquired by The Ratkovich Company with partners National Real Estate Advisors and Blue Vista Capital in June 2013, The Bloc inhabits a full city block and is undergoing $180 million in renovations to provide a curated experience of unique boutiques, premier retailers and restaurants. Originally built in 1973 by architect Charles Luckman, the development will be the single largest mixed-use property in Los Angeles where consumers can work, sleep, shop and eat. It is anchored by Macy's, the Sheraton Los Angeles Downtown Hotel, and a 750,000 square foot luxury office tower. The Bloc will be LEED certified and will be the first Delos WELL Building Project in Los Angeles. Construction began in the first quarter of 2014 and is anticipated to be completed by the third quarter of 2015. For more information, please visit www.theblocla.com or follow us at https://twitter.com/TheBlocLA.

About The Ratkovich Company
The Ratkovich Company is a Los Angeles development company that engages in both new development and the imaginative reuse of existing buildings. The company has completed, or has under development, nearly 18 million square feet of commercial space in Los Angeles County, including The Bloc, a 1.8 million square foot, mixed-use property at the heart of downtown Los Angeles that will become the premier urban retail, office and hospitality destination. The company has also redeveloped The Alhambra, a 45-acre mixed-use urban community in the city of Alhambra, and The Hercules Campus at Playa Vista, a landmark property comprised of 11 historic buildings, including the hangar where Howard Hughes' legendary Spruce Goose was built. The Hercules Campus is home to Google/YouTube, Konami and 72andSunny. The Ratkovich Company has won numerous awards for its restoration of Los Angeles landmarks, including the art deco Wiltern Theatre and adjacent Pellissier building; the iconic 31-story 5900 Wilshire in Miracle Mile; the Chapman Market and the city of Glendale's Alex Theatre. The James Oviatt and Fine Arts buildings were also both awarded national landmark status after successful renovations by The Ratkovich Company. For more information, visit http://www.ratkovich.com.

About National Real Estate Advisors
National Real Estate Advisors has more than $2 billion in assets under management for pension plan sponsors, investing in major U.S. urban markets using a build-to-core strategy. The company undertakes large-scale development and redevelopment projects in its open-end fund and separate account, building investment portfolios of stabilized modern property assets—apartment, office, mixed-use, industrial, data centers and hotels—with design features, technological enhancements, and amenities that can drive high tenant demand and create value over time. An SEC registered advisor, the firm is a subsidiary of the National Electrical Benefit Fund, a $12 billion pension fund. For more information visit, www.natadvisors.com.

About Macy's, Inc.
Macy's, the largest retail brand of Macy's, Inc. (NYSE: M), delivers fashion and affordable luxury to customers at approximately 800 locations in 45 states, the District of Columbia, Puerto Rico and Guam, as well as to customers in the U.S. and more than 100 international destinations through its leading online store at macys.com. Via its stores, e-commerce site, mobile and social platforms, Macy's offers distinctive assortments including the most desired family of exclusive and fashion brands for him, her and home. Macy's is known for such epic events as Macy's 4th of July Fireworks® and the Macy's Thanksgiving Day Parade®, as well as spectacular fashion shows, culinary events, flower shows and celebrity appearances. Macy's flagship stores including Herald Square in New York City, Union Square in San Francisco, State Street in Chicago, Dadeland in Miami and South Coast Plaza in southern California are known internationally and leading destinations for visitors. Building on a more than 150-year tradition, and with the collective support of customers and employees, Macy's helps strengthen communities by supporting local and national charities giving more than $70 million each year to help make a difference in the lives of our customers.

Cecilia Fan
Edelman for The Ratkovich Company
cecilia.fan@edelman.com
323-202-1465

Raegan Gall
Director, Media Relations, Macy's Southwest
626-737-6484

Douglas Geller
CNTRLgroup
doug@cntrlgroup.com
917-698-7444

SOURCE The Ratkovich Company



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