PLAYA VISTA, CA—The Ratkovich Co., Invesco Real Estate and Penwood Real Estate Investment Management have joined together to recapitalize the Hercules Campus. The project includes continuing to market the south and east ends of the campus, which the Ratkovich Co. recently completed recapitalizing, for creative office use as well as the renovation of the historic Howard Hughes Hangar and the West Campus.

According to Wayne Ratkovich, the president and CEO of the Ratkovich Co., the Hercules Campus offers a unique campus experience that is highly sought-after in today's office market. “The Hercules Campus has quickly become a desired destination for forward-thinking, innovative media, entertainment and technology companies,” Ratkovich tells GlobeSt.com. “Through our new partnership with Invesco, we will continue to provide tenants with the leading property management services, creative and production spaces that they have come to expect from The Ratkovich Co.”

The recapitalization and partnership with Invesco is focused on the south and east campuses, which are occupied by 72andSunny, Konami and YouTube. The Hercules campus has 11 historic buildings, including the hangar where Howard Hughes' Spruce Goose was built. The Ratkovich Co. will continue to manage the property.

Creative office space in the Playa Vista submarket is in high demand. The submarket has undergone a transformation recently with the introduction of several creative office, retail and multifamily developments. In a recent interview, Alison Banks, director of marketing for Playa Vista at Brookfield Residential, the developer of the highly popular Playa Vista mixed-use community project explains that the growth in the market can be traced back to 2011 when Google moved to Santa Monica. Today, housing prices are up 19% and while several tech companies, including IMAX and Sony have moved in.