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1600 Forbes Way 67,502 SF 100% Leased Office Building Long Beach, CA 90810 For Sale
INVESTMENT HIGHLIGHTS
- Short-term leaseback from SES provides strong current income and a clear path to land access, allowing ample time for development planning.
- Located at the intersection of the 405 and 710 freeways, and provided with multiple points of ingress & egress off Via Oro Ave, Hughes Way, & Forbes
- This established, infill market has very few opportunities for redevelopment, and is regarded as one of the strongest rent growth markets
- Site is zoned for various industrial uses including distribution and manufacturing, in the City of Long Beach, allowing 55% max coverage
- South Bay market attracts high quality, sticky users on account of proximity to the Port of Los Angeles/Long Beach complex and LAX
EXECUTIVE SUMMARY
CBRE, Inc., as exclusive advisor, is pleased to present 1600 Forbes Way (the “Property” or “Building”), a 67,502 SF flex building in infill Long Beach, CA. The 3.5-acre site is in the highly desirable South Bay market, with immediate access to the 710 and 405 freeways, and 7 miles from the Ports of Los Angeles and Long Beach.
Current zoning allows a wide range of commercial/industrial uses, presenting investors with the unique opportunity for industrial redevelopment or repositioning of the existing improvements including warehouse, manufacturing, or office. Upon sale, SES (“Owner”) will leaseback the entire premise on a triple net basis for 18 months with one six-month option to extend. SES is a leading global space solutions company that operates the world’s only multi-orbit satellite network, delivering high-performance connectivity and video services to governments, telecom providers, broadcasters, and enterprises across more than 80 countries.
Current zoning allows a wide range of commercial/industrial uses, presenting investors with the unique opportunity for industrial redevelopment or repositioning of the existing improvements including warehouse, manufacturing, or office. Upon sale, SES (“Owner”) will leaseback the entire premise on a triple net basis for 18 months with one six-month option to extend. SES is a leading global space solutions company that operates the world’s only multi-orbit satellite network, delivering high-performance connectivity and video services to governments, telecom providers, broadcasters, and enterprises across more than 80 countries.
PROPERTY FACTS
Sale Type
Investment NNN
Sale Condition
Sale Leaseback
Property Type
Building Size
67,502 SF
Building Class
B
Year Built
1982
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
33,751 SF
Building FAR
0.44
Lot Size
3.51 AC
Zoning
PD26 - See brochure
Parking
141 Spaces (2.05 Spaces per 1,000 SF Leased)
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PROPERTY TAXES
| Parcel Number | 7310-016-060 | Improvements Assessment | $4,218,368 |
| Land Assessment | $2,296,479 | Total Assessment | $6,514,847 |
PROPERTY TAXES
Parcel Number
7310-016-060
Land Assessment
$2,296,479
Improvements Assessment
$4,218,368
Total Assessment
$6,514,847
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1600 Forbes Way
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