VITAL STATISTICS
LONG BEACH TOWNE CENTER
7575 Carson Blvd., Long Beach
Deal Value: $144 million
The Long Beach Towne Center, a 100-acre complex on Carson Street in East Long Beach, was sold for $144 million to CenterCal Properties of Costa Mesa and New York-based DRA Advisors. The center, the largest outdoor mall in Long Beach according to news sources, has 870,000 square feet of leasable space and is anchored by 75 retail and service stores, restaurants, 4,500 parking spaces and a 26-screen Regal Edwards theater. The property itself is a one million square foot super regional shopping center located along the 605 Freeway – 870k square feet was offered by Newmark with WalMart the only parcel not included. The Property was 94% leased at the time of sale. The process yielded multiple offers from high quality institutional investors.
