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Shoreline Square Pumps in $80M in Lease Renewals

San Diego-based Parallel Capital Partners Inc. says $80 million in lease renewals spanning more than 140,000 square feet have been signed at Shoreline Square with the U.S. General Services Administration. The 20-story class-A office tower encompasses 410,114 square feet at 301 East Ocean Blvd. in Long Beach.

According to Matt Root, CEO of Parallel Capital Partners, Shoreline Square is currently 87 percent leased, an impressive figure considering pandemic-related challenges.

“This is a highly desirable property ideally located near the ports of Long Beach and Los Angeles – in a dynamic and diversified waterfront urban locale – and is also LEED-Gold certified with a 91 Energy Star score, the equivalent of using 42 percent less energy than the national median average for similar building size, location and type,” Root said.

Part of a master-planned, mixed-use development in Long Beach’s Central Business District, the Shoreline Square building is also home to Comerica Bank, Tesoro Refining & Marketing Company, Mieco Inc. and the State of California.

Brian Saal of CBRE, and George Thomson and James Estrada of Newmark co-represented Parallel Capital Partners and John Winnek of Cushman & Wakefield represented both tenants.

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About Lisa Brown

Lisa Brown has decades of experience in corporate communications and marketing management with organizations including Coldwell Banker Residential, Grubb & Ellis, Marcus & Millichap, NAIOP, SIOR and ALM. In those positions, she worked in conjunction with chief executive officers and chief marketing officers to create corporate messaging, cohesive branding standards, strategic marketing plans and thought pieces. Brown is a frequent speaker at industry events and an editing adjunct professor for an online course. She has a master’s degree in mass communications from San Jose State University.

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