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California  + Los Angeles  + Retail  | 

CenterCal, DRA Acquire Long Beach Towne Center with Placemaking Plans

Costa Mesa-based CenterCal Properties and New York City-based DRA Advisors said Friday they had acquired Long Beach Towne Center, an 870,000-square-foot regional destination in Long Beach, for an undisclosed sum. The new ownership sees the acquisition as a significant opportunity to reimagine one of Southern California’s most prominent retail and entertainment destinations.

DRA and CenterCal, in partnership with the City of Long Beach, will implement a comprehensive reinvestment strategy designed to elevate the guest experience, strengthen the merchandising mix and create vibrant community gathering spaces.

“Long Beach Towne Center is already a cornerstone of the community, and we see tremendous potential to make it even more dynamic and relevant for today’s consumer,” said Jean Paul Wardy, CEO of CenterCal. “Together with DRA, we will transform Long Beach Towne Center into a destination that brings people together, drives strong results for our retailers and creates long-term value for the community.”

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Sale/Acquisition
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