The Newmark Pacific Retail Capital Markets Team is pleased to present qualified investors the opportunity to acquire the favorable leasehold interest in Long Beach Towne Center in Long Beach, California. Long Beach Towne Center is a one million square foot regional shopping center prominently located at the southwest corner of the San Gabriel (605) Freeway and Carson Street in Long Beach. The shopping center, originally completed in 1999, is one of the largest and most dominant shopping centers in Los Angeles County. The project is patronized by a dense and affluent customer base of over 550,000 residents, with average household incomes exceeding $138,000 per year as well as a built-in daytime population of 238,000 employees. According to Placer.ai, Long Beach Towne Center is the number one visited retail center in a 15-mile radius with over 12.2 million customer visits annually and is ranked 9th out of 115 regional shopping centers in California.

Long Beach Towne Center was originally developed by Vestar Development Co. on the former 100-acre Naval Hospital site. The center has been phenomenally successful since opening. The lease is a favorable municipal ground lease with the City of Long Beach. Having the City as the fee owner under the ground lease provides long term stability as municipalities have a common interest in making sure the project remains successful in the short and long term.

Given the sheer scale, centralized location, tenant sales performance, and dominant anchor line-up, Long Beach Towne Center is well-positioned to continue to be regarded as the top option for box retailers, entertainment operators, restaurants, and specialty tenants looking to relocate or expand in this submarket.