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Samuel Zell
Shoreline Square trophy tower in Long Beach sold for $102 million
Shoreline Square trophy tower in Long Beach sold for $102 million

One of Long Beach’s trophy skyscrapers, Shoreline Square, has been sold for nearly $102 million to a San Diego real estate investment firm. Parallel Capital Partners Inc. bought the 20-story building at 301 E. Ocean Blvd. from Guggenheim Real Estate of New York and Bantry Holdings of San Marino, according to real estate broker Kevin Shannon of CBRE Group Inc., who represented the sellers. The tower was developed in 1988 along with the adjoining 469-room Westin Long Beach Hotel. The 383,652-square-foot building is 90% leased to such tenants as the General Services Administration, U.S. Customs, Comerica bank, Tidelands Oil, Department of Defense and UBS Financial Services. HOME...

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