Bascom Group Presents Prime Downtown Long Beach Vacant Ground Floor Retail Space to the Market

IRVINE, Calif., Jan. 11, 2024 /PRNewswire/ -- The Bascom Group, LLC has presented for lease a 4,100 square feet ground floor with patios second generation restaurant space, ideal for a full-service restaurant concept, to the downtown Long Beach market. Ideally located at 200 Pine Avenue in the prime downtown area, there is an adjoining 3,865 square feet lower-level space. The location has dedicated on-site retail and restaurant parking and is at the base of a six story, 65,909 square feet, office building renovated in 2022.

A visual landmark in Downtown Long Beach, 200 Pine is a six-story office tower with an attached 123-stall parking structure. This building has been recently renovated to provide Class "A" common area and tenant improvements. 200 Pine features retail tenants on the bottom floor, including Agaves Kitchen & Tequila and Agaves Ultra Lounge. 200 Pine has an attached 123-stall parking structure. This Long Beach office building offers steel and concrete construction and over 90% historical tenant retention since the early 1990s. This building has Class "A" common area and tenant improvements which have been recently upgraded, and its retail tenants include Agaves Kitchen & Tequila and Agaves Ultra Lounge.

Paul Diamond, Senior Principal, stated "200 Pine is a visual landmark of Downtown Long Beach. The abundant window line is provided by a smaller floorplate, and there is top of the building monument signage available." Located in the heart of the Pine Avenue entertainment district offering numerous restaurants, Altar Society Brewing Company and shopping, this building finds itself located within two blocks of City Hall, Billie Jean King Public Library, George Deukmejian County Court House, and the State Building (as well as two blocks from the new expanded Convention Center). Located on Local Downtown Transit Route (runabout shuttle every 10 minutes) and the Metro A Line is one block from the building.

David Kim, Managing Partner, added "200 Pine is in the heart of the Pine Avenue entertainment district, with numerous retailers and restaurants, such as Altar Society Brewing Company. This building is within two blocks of City Hall, Billie Jean King Public Library, George Deukmejian County Court House, the State Building, and the newly expanded Long Beach Convention & Entertainment Center." Various public transportation options are available to tenants, such as a downtown transit route and the Metro A Line, one block from the building. Discover the modern turnkey offices at 200 Pine and have access to all Long Beach has to offer.

Downtown Long Beach is in the midst of an urban renaissance. Originally adopted in 2012, the Downtown Plan was established by Long Beach Development Services to create a vibrant urban core. Since January 2014, hundreds of businesses have opened in the area and there are currently over 1,000 apartment units under construction.

At the heart of the city's revitalization plan is the recently completed $520 million Long Beach Civic Center. It includes an 11-story City Hall, offices for the Port of Long Beach and a main public library. Plans for Queen Mary Island, a $250 million entertainment and hotel complex on 65 waterfront acres next to the Queen Mary ocean liner, are also in the works. This project features new stores, restaurants, sports venues, and attractions like rooftop surfing pavilions, a roller coaster, a zip line and indoor ice climbing.

Office tenants in the area are fairly diverse, with a high concentration of trade, logistics, and medical firms concentrated in the downtown core. The City of Long Beach is the largest tenant in the area. The neighborhood benefits from having the lowest office rents in the metro while still having access to the best amenities in the greater Los Angeles area. Long Beach is also home to an increasing amount of retail and restaurant options.

Visit our website at http://www.rtlcollab.com/200pine and LoopNet at https://www.loopnet.com/Listing/200-Pine-Ave-Long-Beach-CA/6380655/.

About Bascom: Bascom is a private equity firm specializing in value-added multifamily, commercial, and non-performing loans and real estate related investments and operating companies. Bascom sources value-added and distressed properties including many through foreclosure, bankruptcy, or short sales and repositions them by adding extensive capital improvements, improving revenue, and reducing expenses by realizing operational efficiencies through implementation of institutional-quality property management. Bascom, founded by principals Derek Chen, Jerry Fink, and David Kim, is one of the most active and seasoned buyers and operators of apartment communities in the U.S. Since 1996, Bascom has completed over $21.4 billion in multifamily value-added transactions encompassing 357 multifamily properties and over 91,000 units. Bascom's commercial transaction volume is $5.8 billion in total and amounts to over 23.4 million square feet. Bascom has ranked among the top 50 multifamily owners in the U.S. Bascom's subsidiaries and joint ventures include the Bascom Value Added Apartment Investors, Shubin Nadal Associates, Spirit Bascom Ventures, REDA Bascom Ventures, Bascom Northwest Ventures, Bascom Arizona Ventures, Harbor Associates, Village Partners Ventures, and Realm Group. Bascom's subsidiaries also include Premier Workspaces, one of the largest privately held executive suite, coworking and shared workspace companies in the U.S. For additional information, please visit www.bascomgroup.com.

Contact: Jerry Fink
Tel: 949-955-2991
Email: [email protected]

SOURCE The Bascom Group