Atlantic Pearl Investments Acquires Property At 1501 Hughes Way Long Beach For $13.4M

Atlantic Pearl Investments has acquired a Class A office building located at 1501 Hughes Way, Long Beach, CA. The property measures 78,000 square feet and was sold for $13,400,000. At the time of the sale, the building was 88 percent occupied. It was completed in 1982 and provides accessibility to multiple bus stations and nearby hotels.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $13,400,000.00
• Address: 1501 Hughes Way, Long Beach, CA
• Market: Long Beach
• Seller's Representatives: Mark Shaffer, Doug Mack, Gary Stache - CBRE
• Buyer: Atlantic Pearl Investments
• Square Footage: 78,000
• Occupancy Rate at Sale: 88%
• Year Built: 1982

CBRE’s team, consisting of Mark Shaffer, Anthony DeLorenzo, Gary Stache, and Doug Mack, represented the sellers in this transaction. The buyers, Atlantic Pearl Investments, identified this purchase as a valuable opportunity in a recovering market, capitalizing on the potential for significant upside in rentals that have yet to exceed previous peaks.