The 14-acre big-box centre located in downtown Long Beach, California, which was once home to Long Beach Plaza Mall, is set to be redeveloped as a mixed-use centre.
Previously owned by Tony Shooshani, a well-known Beverly Hills developer and Ferrari collector, City Place is now in the hands of Turnbridge Equities and Waterford Property Company. The pair are intending to explore a mixed-use renovation for the centre and are also wanting to keep current tenants such as Ross Dress for Less and Studio 111 as part of the project.
The pair also envisions a residential space at City Place. The residential base in downtown Long Beach has grown side the completion of Douglas Park, a 4 million square foot office park which is occupied by companies such as Virgin Orbit, Mercedes Benz and other companies.
Turnbridge’s Director of West Coast Investments, Michael Gazzano, commented: “Downtown Long Beach has excellent fundamentals, and this site offers great scale to go along with walkability, access to transit, and great pedestrian experience along The Promenade and side streets.”
