Marking its second major Southern California commercial real estate purchase in less than two weeks, San Diego-based Parallel Capital Partners has acquired Shoreline Square, a Class A office tower overlooking the coastline in Long Beach, Calif. The property was purchased for $101.7 million from Guggenheim Real Estate. According to Matt Root, CEO of Parallel Capital Partners, the tower – originally developed in 1988 along with the adjoining 469-room Westin Long Beach Hotel – is part of a revival in downtown Long Beach.

Downtown California Plaza Land Sells for $103 Million

A commercial building/property inspector will be able to help you discover underlying risks that may be hidden in potential properties in which you may invest. Call PureFusion Consulting Building Inspections with your questions about our detailed process for inspecting commercial, industrial, retail or multi-family buildings in Los Angeles, Riverside or Orange Counties.

The Los Angeles Office Market is Good.
CMBS Is Ready for Fresh Start in 2017