1 Day
Source:
Los Angeles Times
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Long Beach port acquires downtown office tower
The Port of Long Beach has purchased a 13-story office building downtown for $36 million to promote economic development and create a maritime business hub. The building, with a 70% occupancy rate, will house shipping, logistics companies, and the port’s training program, supporting the city's strategy to attract international firms and boost local commerce. This investment marks a unique move by a port authority into commercial real estate amid rising office vacancies across Southern California.
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