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CityPlace Sells 1.5-Acres for Loft Development

LONG BEACH, CA-The acquisition, valued just under $2 million, is for a 72-unit loft development that will be part of the $75-million CityPlace development. The property was purchased by locally based Urban Pacific Builders.

By Peter Landau | Updated on June 07, 2002

LONG BEACH, CA-A 1.5-acre site was acquired for a new 72-unit for sale loft development at the $75 million CityPlace mixed-use project here. The property was purchased by locally based Urban Pacific Builders. The transaction value for the deal was just under $2 million.

The units will consist of three-stories above one floor of semi-subterranean parking. Unit sizes will range from 1,100 sf to 2,500 sf with pricing expected to start in the mid-$200,000 range. The property is located nearby to Pine Ave. corridor with AMC Theaters, restaurants, shopping and within close proximity to the Aquarium of the Pacific and World Trade Center of Long Beach.

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