Columbia S&L; First Tenant in Shoreline

Columbia Savings & Loan has signed on as the first tenant in Shoreline Square, a $130-million mixed-use project in downtown Long Beach. Shoreline, scheduled to open in August, takes up a city block bounded by Ocean and Long Beach boulevards, 1st Street and Elm Avenue.

Columbia will occupy 5,500 square feet on the ground floor under a 20-year lease valued at $2.6 million, according to Grubb & Ellis, the leasing agent.

The developer-owner of the project is Shoreline Square Associates, a joint venture of Newport Beach-based developer Stan Cohen and two Japanese firms, Taisei, a construction company, and Marubeni, a trading company. Fuji Bank is the lead lender.

Todd Cleary, of Cleary Properties, Los Angeles, said Fuji, Marubeni and Taisei are members of the giant Fuyo group, whose members, while separate here, are financially interrelated in Japan.