LOS ANGELES, Jan. 9, 2014 /PRNewswire/ -- sbe, an industry-leading hospitality, lifestyle and real estate development company, and The Ratkovich Company, a leading development company with nearly 18 million square feet of commercial space in Los Angeles County, today announced the upcoming relocation of sbe's Los Angeles corporate headquarters to The Ratkovich Company's landmark 5900 Wilshire building. The news comes as sbe continues its rapid expansion nationwide and internationally, and is addressing that growth by creating added space for its corporate team.
"Being a part of 5900 Wilshire is something that will have a very meaningful impact on our company and its culture," said Sam Nazarian, sbe founder, chairman and CEO. "The building's unrivaled mix of industry-leading tenants, the investment by The Ratkovich Company to re-establish the building to its iconic status, and the surrounding area's community of globally influential brands and arts and culture organizations makes it an absolute honor to call 5900 Wilshire sbe's new home."
sbe signed a five-year lease with The Ratkovich Company and secured naming rights to the property, which offers unobstructed 360-degree views of Los Angeles County. sbe will move into the space in the second quarter of 2014 and occupy more than 30,000 square feet on the top two floors of the property. sbe will also work with The Ratkovich Company to reimage the space in a manner fitting the building's inspired design legacy.
"sbe's relocation to 5900 Wilshire exemplifies why the property remains the premier business destination for entertainment, media and emerging tech companies," said Wayne Ratkovich, founder, president and CEO of The Ratkovich Company. "We look forward to working with sbe to strengthen and expand this relationship for years to come."
sbe will transition out of its current buildings located at 8000 and 7900 Beverly Blvd, which are both owned by Nazarian.
sbe is a creative hospitality company that develops, manages and operates award-winning hotels, restaurants and nightlife. Through exclusive partnerships with cultural visionaries, sbe is dedicated to delivering the best in design, culinary and entertainment. Already a proven leader in the hospitality and real estate industries, sbe has over 80 properties currently operating or in development, and has expanded several of its flagship brands including SLS Hotels, Katsuya by Starck, The Bazaar by Jose Andres, Hyde Lounge and The Redbury, nationally and internationally. Founded in 2002 by Chairman and CEO Sam Nazarian, sbe is a privately held company. More information about sbe can be obtained at sbe.com, or by downloading the sbe App.
About 5900 Wilshire
5900 Wilshire is a 31-story tower with 360 degree views of the city located in Los Angeles' Miracle Mile district. Designed by the legendary William Pereira in the late 1960s, 5900 Wilshire was acquired by The Ratkovich Company, in partnership with an institutional investor, in December 2005. Following a successful $34 million renovation in 2008, 5900 Wilshire is the new headquarters for innovative, successful entertainment and media companies, like the Sundance Institute, Los Angeles magazine, Millennium Entertainment and Edelman in the Miracle Mile. 5900 Wilshire is the recipient of both the Building Owners and Managers Association of Greater Los Angeles Office Building of the Year award and the 2009 Renovated Building of the Year from the Los Angeles Architectural Awards. In 2012, 5900 Wilshire received a LEED Gold certification. For more information, visit www.5900wilshire.net.
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 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.
Edelman for The Ratkovich Company
Vice President of Communications, sbe
SOURCE The Ratkovich Company; sbe