search

The Real Deal Logo

Trending

HGTV’s “Mr. Flip It” gets four years in jail for $10M fraudHGTV’s “Mr. Flip It” gets four years in jail for $10M fraudTrump accused of making false statements about $50M Chicago tower loanTrump accused of making false statements about $50M Chicago tower loanLawmakers reach sweeping housing deal with “good cause eviction,” new 421aLawmakers reach sweeping housing deal with “good cause eviction,” new 421aMacerich faces “imminent” default on $300M Santa Monica Place loanMacerich faces “imminent” default on $300M Santa Monica Place loan
Commercial
Los Angeles

RAIT Financial Sells Long Beach Retail Space for $5.2M

210-218 The Promenade North
210-218 Promenade North in Long Beach

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.

Sign Up for the undefined Newsletter

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

Tags
Commercial Real EstateLong Beach