There could be another music venue headed for Long Beach. Or a vegan restaurant. Or an office.
P&O Properties shelled out $5.2 million for a 27,200-square-foot space in Long Beach that allows for multiple uses.
The seller, Philadelphia’s RAIT Financial Trust, listed the property at 210-218 Promenade North as office/retail. Blue Cafe, a music venue that used to be the tenant, closed in 2009.
Sean Lieppman and Noel Aguirre of Lee & Associates of Long Beach represented the buyer. Bill Maher and Greg Stumm of CBRE represented the seller. The transaction was financed by Don Smith of Sunrise Mortgage & Investment Company. – Hannah Miet