LONG BEACH, CA – Commercial real estate investment and operating company, Parallel Capital Partners has sold a class A, 410,920-square-foot office tower in downtown Long Beach, CA to Shoreline Square Holdings LLC for $85.5 million.
Shoreline Square Holdings is funded by capital originating from the Pacific Rim.
The LEED Gold-certified property, Shoreline Square, is 92% leased. The property is 52% leased to US government and municipal tenants, including US Customs, CA State Land Commission, Department of Defense, CA Coastal Commission and ATF, which have an average commitment of more than 28 years, with more than 10 years of weighted average lease term remaining.
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Ingrid Tunberg
Ingrid Tunberg sits on the editorial team as a coordinator and reporter for Real Estate Forum and GlobeSt.com. She is responsible for writing stories, assisting with industry awards and marketing nomination events. Previously, Ingrid worked as a copywriter across various industries throughout New York City and Chicago.
