Panattoni, Redwood West acquire Long Beach retail plaza for $50M
An Ohio-based real estate investment trust sold an outdoor retail property in Long Beach to two locally based real estate firms. Redwood West and Panattoni acquired The Pike Outlets at 95 South Pine Avenue for $50 million, L.A. Business First reported. Ohio-based Site Centers Corporation sold its ground leasehold and other interests in the nearly 395,000-square-foot property. The retail plaza was built in 2003 at a cost of $130 million, the Long Beach Post reported. Following the transaction, Redwood West will oversee The Pike’s property management, leasing, marketing and operations. Redwood West and Panattoni have teamed up to buy retail […]This article originally appeared on The Real Deal. Click here to read the full story.
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