Office

604 & 650 Pine Ave.

604 & 650 Pine Ave, Long Beach, CA, 90844-0001, US

Executive Summarydownload
604 & 650 Pine Ave._Property for Sale

Gallery

604 & 650 Pine Ave. 2_Property for Sale

Asset description

Jones Lang LaSalle Americas Inc., as exclusive advisor, is pleased to present the extremely rare opportunity to acquire the fee simple interest in 604 & 650 Pine (the “Property”), a fully stabilized, single-tenant office investment opportunity totaling 208,501 rentable square feet. The Property is leased on a triple net (NNN) structure to Molina Healthcare (S&P: BB-) through 2029. The Property provides investors the opportunity to acquire a modern office asset in the heart of the coastal Downtown Long Beach market with strong credit tenancy. This opportunity is the only newly constructed office asset publicly owned in Long Beach since 2010.

Attributes

Building area gross
208,501 sf
Occupancy
100.00%
Year built
2014

Investment highlights

  • Modern Institutional Quality Office Buildings​​​​​​​
  • 8 Years of High Quality Triple Net (NNN) Lease Term Remaining
  • Low Relocation Risk Due to Coastal Scarcity Premium & Molina Healthcare’s Information Technology Hub
  • Coastal Location Within Walking Distance to Numerous Retail & Housing Options
  • The Only Newly Constructed (Since 2010) Non-Government Owned Office Campus in the Coastal Downtown Long Beach Market
  • Secure Cash Flows Backed by Fortune 200 Credit (Market Capitalization of $16.1B+)
  • Offered Free of Existing Debt

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Last updated
Nov 30, 2022