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Long Beach, Calif. — CBRE has arranged the $30 million sale of Mosaic, a six-building retail portfolio located in downtown Long Beach. Totaling 148,405 square feet, the portfolio includes 50 East 4th Street; 145 East 4th Street; 300 and 325 The Promenade North; and 480 and 590 Pine Avenue.
Tenants located within Mosaic, which was 78 percent occupied at the time of sale, include Ross Dress for Less, Studio One Eleven/RDC, Ammatoli, Pacific Dental, Panda Express, Wingstop, GNC, GameStop, U.S. Army, U.S. Armed Forces and City of Long Beach, among others. The properties were constructed between 2002 and 2004.
John Read and Erin Smith of CBRE represented the seller, a partnership between Turnbridge Equities, Waterford Property Co. and Monument Square Investment Group. The buyer was an entity doing business as Mosaic Promenade Holdings LLC.
