LOS ANGELES, CA - March 15, 2017 — Joint venture partners ASB Real Estate Investments and Blatteis & Schnur announced today that Soylent, the meal supplement technology company, has leased 29,000 square feet of office space in AT MATEO, the Arts District retail-creative office development in downtown.
Scheduled for its grand opening on May 1, the $80 million AT MATEO project will feature nearly 125,000 square feet of open air retail and approximately 50,000 square feet of creative office space in four buildings on the former industrial site at the corner of Palmetto and Mateo streets. AT MATEO’s master planner, Keith Ray, designed the project with cobblestoned, open-air paseos and buildings featuring laminated wooden beams and bricks in keeping with the heritage of the Arts District architecture.
“We are thrilled to be welcoming Soylent to AT MATEO — a very well backed, truly visionary company with a growing millennial customer base,” said Robert Schnur, Co-Chairman of Blatteis & Schnur.
Robert Bellinger, President and CEO of ASB Real Estate Investments, said: “Signing on a cutting-edge food company like Soylent is an auspicious way to kick off the project’s office leasing, taking more than 50% of the available space in the office component. A mix of restaurants, eateries, boutiques and soft goods stores are targeted to fill the exciting retail space, now nearing completion.”
“Downtown Los Angeles has been the perfect home for our growing business,” said Rob Rhinehart, Founder and CEO of Soylent. “The Arts District is a hub of diversity, creativity and innovation in no small part due to the efforts of visionaries like ASB and Blatteis & Schnur. AT MATEO is a stunning space that any company would be proud to call its headquarters."
ASB and Blatteis & Schnur have partnered on more than $400 million in urban real estate investments for more than 10 years across the U.S. In the Los Angeles area, the two companies have ownership stakes in retail sites in Venice and Santa Monica.
About Blatteis & Schnur
Blatteis & Schnur traces its roots back to 1922 when the company was co-founded by Samuel Blatteis as what is believed to be the first real estate firm in the Western United States to make a specialty of retail leasing and brokerage. Blatteis & Schnur’s principal business specializes in the acquisition of 100% High Street properties in the top 20 urban retail markets in the United States. The firm has consummated over 40 transactions of premier properties over the past 15 years in such diverse markets as Beverly Drive in Beverly Hills, Malibu, Union Square in San Francisco, Michigan Avenue and Lincoln Park in Chicago, Walnut Street in City Center Philadelphia and Maui, Hawaii. For more information, please visit our website at www.blatteisschnur.com.
Soylent is a producer of healthy, functional foods. CEO/Founder Rob Rhinehart and team developed Soylent after recognizing the need to expand access to quality nutrition by improving the food system through innovation. Soylent's products are produced with affordability and efficiency in mind to create food focused on our health and environment. The Company is headquartered in Los Angeles, CA. For more information, visit www.soylent.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 $7.2 billion* in gross assets under management for over 360 domestic and international 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 12/31/2016
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.