RAIT Financial Sells Long Beach Retail Space for $5.2M

Buyer scoops up former home of Blue Cafe

TRD LOS ANGELES /
Jan.January 28, 2016 02:30 PM

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


Related Articles

arrow_forward_ios
From left: Howard Schwimmer and Michael S. Frankel, with 1601 W. Mission Boulevard and 2757 E. Del Amo Boulevard (Credit: Google Maps)

Rexford Industrial adds to LA portfolio with $100M in acquisitions

Andrew McDonald and At Mateo in the Arts District

Cushman’s West Coast chief talks expansion, DTLA market, the death of the starving baby broker & more

3339 Exposition Blvd. and Asher Luzzatto

Luzzatto Co. assembling creative office hub in West Adams

Jason Illoulian and the Cemex plant

Faring makes $30M assemblage play on WeHo/LA border

West Ocean Towers (Credit: Ledcor Group)

Developers of Long Beach’s tallest tower sued by contractor

From left: Nuveen CEO Vijay Advani, Graymark founder/CEO Brian Hecktman

Graymark, Nuveen pay $97M for El Segundo creative office

Troy Palmquist is expanding The Address into Long Beach with local agent Andy Dane Carter his first hire

Next address for The Address? Long Beach

From left: A San Fernando Valley retail center and a Forever 21 near downtown LA (Credit: iStock)

Greater LA retail market struggles to recover from big box closures, bankruptcies

arrow_forward_ios
Loading...