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Redwood West, Panattoni Team to Acquire Long Beach’s The Pike
Redwood West, in partnership with Panattoni, has acquired The Pike, Long Beach, a waterfront retail, dining and entertainment lifestyle center. Although Redwood West and Panattoni did not identify the seller or sale price, SITE Centers Corp. announced separately that it sold the 394,616-square-foot center for $50 million.
Located at 95 S. Pine Ave. and delivered in 2003, The Pike is 91% leased. Its tenant roster includes Restoration Hardware, Cinemark, EōS Fitness, Nike Factory Store, H&M, Levi’s, P.F. Chang’s, Gladstones, California Pizza Kitchen and Starbucks.
The new ownership plans to invest $20 million into the property, with a focus on new leasing, supporting existing tenants and creating opportunities for community engagement and activation. “The Pike’s waterfront is one of Long Beach’s greatest assets,” said John Pomer, principal of Redwood West. “Our vision is to create a vibrant gathering place with experiences, events, and public spaces that invite residents and visitors to connect with the community year-round.”
- ◦Sale/Acquisition
