275 Magnolia Ave, Long Beach, CA, 90802 - Available for Lease

Retail For Lease

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Governor Deukmejian Courthouse

275 Magnolia Ave, Long Beach, CA 90802

$2.35 - $28.20 /SF/Year

2,677 SF | Retail

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Retail Property For Lease

Total Space Available:
2,677 SF
Rental Rate:
$2.35 - $28.20 /SF/Year
Min. Divisible:
1,141 SF
Max. Contiguous:
1,531 SF
Property Type:
Retail
Property Sub-type:
Restaurant
Additional Sub-types:
Retail (Other)
Construction Status:
Under
Construction/Proposed
Building Size:
545,000 SF
Building Class:
A
Year Built:
2013
Lot Size:
5.97 AC
Listing ID
17541740
Last Updated
6 days ago

Find Out More...

2 Spaces Available

A

  • 1,531 SF
  • $2.35 /SF/Year
  • Restaurant
  • Street Retail
  • NNN
  • 120 Months
  • This is a Food Court space. Join Subway and Coffee Bean & Tea Leaf. We are seeking mexican, asian, greek, burger, yogurt, fresh juice, bakery concepts. For additional information contact the broker or visit www.newlongbeachcourtbuilding.com
$2.35 /SF/Year$2.35 /SF/Year$0.20 /SF/Month$3,597.85 /Year$299.82 /Month

B

  • 1,146 SF
  • $2.35 /SF/Month
  • Restaurant
  • Street Retail
  • 1,141 SF
  • 1,141 SF
  • NNN
  • 120 Months
  • For additional information contact the broker or visit www.newlongbeachcourtbuilding.com
$2.35 /SF/Month$28.20 /SF/Year$2.35 /SF/Month$32,317.20 /Year$2,693.10 /Month

Highlights

  • 37,850 - Downtown Daytime Population
  • 4,000 - Daily Court Visitors
  • 800 - Daily Court Workers
  • 16,000 - Daily Traffic at Broadway/Magnolia
  • 11,400 - Daily Traffic at 3rd/Magnolia
  • 37,000 - Daily Traffic at Ocean/Magnolia

Description

http://www.longbeachcourtbuilding.com/Long Beach Judicial Partners LLC (LBJP) has been awarded a contract to design, construct, finance, operate, and maintain a new 545,000 square-foot courthouse in Long Beach. The project is being delivered under a unique public/private partnership agreement, which has a total development cost of approximately $490 million and a design-build cost of $343 million.When complete, the five-story building will house 31 courtrooms, as well as court administration offices, Los Angeles County lease space, and retail leasable space. The building will include below-grade secure inmate transfer facilities, detention facilities, and separate secure parking areas for judges. A five-level great room atrium enclosed on two ends by a cable-supported glass wall system will serve as the single entry point for the public and provide access to a secured central courtyard. Clad in deeply-articulated curtain wall and elements of stone, the project will span two city blocks in downtown Long Beach and replaces the functionally- obsolete court-house building one block away. In addition to the new building, the project team also will renovate and expand an existing 399

With over 12.5% of the downtown population visiting or working at the Courthouse every day, this property creates by far the best customer count opportunity in all of Downtown Long Beach. Due to the location and tight schedules of visitors and employees, the Court will create a captive audience of customers who will require quick-service opportunities. For many, this retail facility will be their only option. Many of the court' s visitors are required to stay for an extended period, sometimes all day. Much of their time is downtime, affording the opportunity for multiple sales, spread out throughout each day. The Court Building will be full on the first day. There will be no ramp-up period and the nature of the site and use will protect retailers from decreases in demand or increases in competition over the term of their lease.

Map of 275 Magnolia Ave, Long Beach, CA 90802

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Brian C. Russell, CCIM
Brian C. Russell, CCIM

Retail Specialist - Southern California

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License #00977427

Asking Price Index Trends for Long Beach, CA Retail For Lease

  Oct 14 vs. 3 mo.
prior
Y-O-Y
-
State
$20+0.5%+1.6%
-
Metro
$24+0.8%+2.2%
-
County
$24+1.4%+4.1%
-
City
$20+2.6%+2.5%

View Long Beach Market Trends for other property types for sale or lease. Learn more about the chart info.

Governor Deukmejian Courthouse
  • Retail
  • $2.35 - $28.20 /SF/Year
  • 2,677 SF