The Real Deal Los Angeles

Taking off: Boeing lists massive 90-acre aircraft assembly plant in Long Beach

The 1M sf complex borders Long Beach Airport
November 07, 2018 10:00AM

A Boeing C-17 Globemaster and the main assembly building at Boeing’s Long Beach property with CEO Dennis A. Muilenburg

Eat your heart out, Spruce Goose.

This week, Boeing listed its 90-acre aerospace manufacturing facility where for two decades it built planes for the U.S. military.

The property includes a 1.1 million-square-foot main assembly building where it built the C-17 Globemaster transport aircraft until 2015, according to the Los Angeles Times, which first reported the planned sale.

Boeing’s main building is more than twice the size of Google’s brand new offices retrofitted from the famed Spruce Goose hangar in Playa Vista. Unlike Spruce Goose, it doesn’t appear the Boeing site will be turned into creative offices.

The property neighbors Long Beach Airport and includes one other primary manufacturing building and a number of smaller buildings. The first bids for the site are due in December, according to Boeing’s brokers at NKF Capital Markets. No price was listed.

The City of Long Beach is creating a specific plan for the site and the area immediately around the complex, which it calls the “Globemaster Corridor,” with plans to present it to the City Council by year end. The plan would include rezoning portions of the area and could include public parks and other amenities, according to the Long Beach Press-Telegram.

Developers and investors have flocked to Long Beach as an alternative to the pricey Los Angeles. Large projects in the works include a 429-key hotel and a 40-story residential tower downtown. There are a number of smaller projects in the works, too, as well as big trades. Long Beach saw its priciest multifamily transaction of the year in July, when IMT residential bought a 291-unit building for $123 million.  [LAT] — Dennis Lynch