This Retail Property is Off-Market.

275 Magnolia Ave
Long Beach, CA 90802 ·

Retail For Lease

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Governor Deukmejian Courthouse

Rental Rate N/A Building Size 545,000 SF
Total Space Rentable 900 SF Building Class A
Min. Divisible 900 SF Year Built 2013
Max. Contiguous 2,171 SF Lot Size 5.97 AC
Property Type Retail Construction Status Under Construction/Proposed
Property Sub-type
Restaurant
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  • Special Purpose (Other)
Listing ID: 17541740 Date Created: 02/21/2012 Last Updated: 09/17/2016

1 Space

Display Rental Rate as

Space 1

Space Available 900 SF Lease Term 120 Months
Space Type Retail (Other) Pct. Procurement Fee 2.50%

Experienced sundries shop only. For additional information contact the broker or visit www.newlongbeachcourtbuilding.com

Description

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.

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

Research

275 Magnolia Ave, Long Beach, CA 90802 (Los Angeles County)

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