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Landmark Long Beach Tower Trades Hands

A 199,156-square-foot office tower in downtown Long Beach, CA has traded hands in what is the largest Class A office building sold in Long Beach this year. The Salvation Army divested 180 E. Ocean Blvd. to an affiliate of Thrifty Oil Co. for a reported $35.8 million.

The 12-story office landmark tower features ocean and city views, as well as numerous walkable lifestyle amenities. Completed in 1984, Thrifty Oil plans to make improvements to the building to attract new tenants.

Cushman & Wakefield’s Jeffrey Cole, Robert Garey, Ed Hernandez and Nico Napolitano represented the seller in the disposition.

Cole says, “With the phased departure of The Salvation Army from the building, this property offers a rare repositioning opportunity of one of the most recognizable office assets in Long Beach. 180 E. Ocean Blvd. was sold at a significant discount to replacement cost, and proved an ideal investment for the buyer.”

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About Dennis Kaiser

Dennis Kaiser is Vice President of Content and Public Relations for Connect Commercial Real Estate. Dennis is a communications leader with more than 30 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect’s client content operations and is involved in a range of initiatives ranging from content strategy, message development, copywriting, media relations, social media and content marketing services. In his most recent corporate communications roles, he led a regional public relations effort across Southern California for CBRE, played a key marketing role on JLL’s national retail team, and was responsible for directing the global public relations effort at ValleyCrest, the nation’s largest commercial landscape services company. In addition to his vast commercial real estate experience, Dennis has worked on communications and launch strategies for a number of residential projects such as Disney’s Celebration in Florida, Ritter Ranch in Palmdale California (7,200 homes, 22,000 acres), WaterColor in Florida and PremierGarage in Phoenix. Dennis’s agency background included firms such as Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, BoyScouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and Thunderbirds Charities.

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