Long Beach, Calif. — Redwood West, in partnership with Panattoni, has purchased The Pike, a 394,616-square-foot waterfront retail, dining and entertainment center in Long Beach. Site Centers Corp. sold the property for $50 million, according to L.A. Business First. Bryan Ley and Tim Kuruzar of Northmarq represented the seller.
Located at 95 S. Pine Ave., The Pike features mixed-use commercial space that was 91 percent leased at the time of sale. Current tenants include Cinemark Theaters, Restoration Hardware, EōS Fitness, Nike Factory Store, H&M, Levi’s, P.F. Chang’s, Gladstones, California Pizza Kitchen and Starbucks Coffee.
Redwood West and Panattoni plan to invest $20 million to deliver placemaking initiatives, community-focused events, strategic leasing, neighborhood-serving uses and experiential activations.