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press release

July 9, 2018

Spotify Leases in ASB/Blatteis & Schnur AT MATEO Development
Girl & the Goat Restaurant to open first Los Angeles location
Boosts leasing in arts district creative mixed-use project to approximately 85 percent


LOS ANGELES, CA - ASB Real Estate Investments (ASB) and Blatteis & Schnur, Inc. announced today that Spotify, the world’s most popular music streaming service, has agreed to lease nearly 110,000 square feet of creative office space in AT MATEO. Simultaneously, ownership announced a lease with Girl & the Goat, the highly acclaimed Chicago restaurant operated by executive chef Stephanie Izard and Boka Restaurant Group. This will be Boka Restaurant Group’s first Los Angeles location and their first venture outside of the Chicago market.  Spotify and Girl & the Goat join USC’s Roski School of Art and Design and Soylent in the creative office-retail development located in the heart of the Arts District at the corner of Palmetto and Mateo Streets. 

Spotify will become AT MATEO’s largest tenant and occupy a total of 109,706 square feet. Girl & the Goat has signed a lease for over 7,000 square feet of space and will open next year. USC has leased approximately 16,000 square feet and Soylent, the meal supplement technology company, occupies 30,000 square feet in the complex, which is the only new, ground-up creative office project in the submarket.  With the addition of Spotify and Girl & the Goat, AT MATEO is now approximately 85 percent leased.

AT MATEO showcases approximately 195,000 square feet of space in four buildings on a former 3.5-acre industrial site, designed in keeping with surrounding Arts District architecture. The one and three-story buildings feature glu-laminated beams from the original structure and 100% repurposed brick exteriors, including bricks from the Indiana High School attended by James Dean and the famous Forest City Brewery of Cleveland Ohio.  Spaces feature high ceilings ranging between 15-20 feet with unique wood treatments, floor-to-ceiling glass, and roof decks. Walkways are cobblestoned, paved with 150 year stones sourced the Art’s District very first street, with open-air paseos between the buildings. The development has a four-level, 540-car parking structure which includes bike parking and electric vehicle charging stations and rooftop event space with unparalleled views of the DTLA Skyline.

Robert Schnur, Co-Chairman of Blatteis & Schnur, said: “Spotify’s decision to bring its LA office to AT MATEO and becoming our largest tenant further establishes the Arts District as a location for creative office users, and exemplifies the desirability of AT MATEO, in particular for tenants seeking exceptionally high-quality space with unique architecture in a neighborhood that cannot be duplicated in Los Angeles. The Arts District breathes creativity and vibrancy and we wanted to develop a project that looked and felt like it was born there with a mix of tenants that truly belonged in the neighborhood. AT MATEO attracted these two amazing tenants and we are so excited to bring them to the Art’s District community.”

ASB President and CEO Robert Bellinger, added: “The lease signings by Spotify and Girl and the Goat further validate ASB’s early recognition of the Arts District’s potential as an emerging commercial and residential area that would prove favorable for a well-conceived project like AT MATEO. We expect this leasing momentum to continue.” For more information, visit www.atmateo.com.

About Girl & the Goat and BOKA Restaurant Group
Girl & the Goat opened in Chicago in 2010 and has consistently been one of the most difficult reservations to get in the country. Saveur Magazine named it 'The Best New Restaurant in America,' and it was also nominated for the James Beard Award for 'Best New Restaurant.' Eater National, the Chicago Tribune, and Time Out Chicago all named Girl & the Goat 'Restaurant of the Year' in 2010. Chef/co-owner Stephanie Izard, best known as the first female chef to win Bravo’s “Top Chef,” was also named Food & Wine's 'Best New Chefs: 2011,' and won the James Beard Award for 'Best Chef: Great Lakes' in 2014. She also took home the title of Iron Chef after competing in Food Network’s first season of “Iron Chef Gauntlet” in 2017. Trip Advisor named Girl & the Goat the #4 restaurant in the world in their annual awards and The Daily Meal named it #9 in the U.S. BOKA Restaurant Group (BRG) was founded by Rob Katz and Kevin Boehm in 2003 and has become one of the premier chef-driven restaurant groups in the country. Anchored by partnerships with six of America’s great chefs, BRG owns and operates Girl & the Goat, Little Goat and Duck Duck Goat with Stephanie Izard; Bellemore with Jimmy Papadopoulos; Perennial Virant, Elaine’s and The J. Parker with Paul Virant; GT Fish & Oyster, GT Prime and BOKA Catering Group with Giuseppe Tentori; Balena Swift & Sons, Cold Storage and Dutch & Doc’s with Chris Pandel; Momotaro with Mark Hellyar; and Somerset, Devereaux and the group’s flagship restaurant, BOKA, with Lee Wolen. The group also owns and operates The J. Parker, The Kennison and Elaine’s Coffee Call. BRG prides itself on its warm, friendly hospitality and the freshest, highest quality food in each of their locations. For more information on the group, please visit www.bokagrp.com.

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 and redevelopment 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, Third Street Promenade in Santa Monica, 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.

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 March 31, 2018

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.