JLL Secures $7.48 Million Refinancing for Long Beach Office Building at 200 Pine

JLL Capital Markets led the financing efforts for 200 Pine in Downtown Long Beach

JLL Capital Markets has announced that it has arranged a $7.48-million refinancing for 200 Pine, a Class A office and retail building totaling 64,376 square feet in Long Beach, California.

JLL worked on behalf of the borrower, Bascom Group, to secure permanent, fixed-rate financing.

Renovated in 2022, 200 Pine is a six-story building that is 81% leased to 15 tenants across diverse industries. Recent leasing momentum includes a newly signed lease with Dirty Birds, a restaurant and sports bar, which will occupy a portion of the ground-floor retail space. The property features high-quality, Class A common areas, modern tenant improvements, ground-floor retail space and a 132-space attached parking garage.

The property is positioned at the corner of Pine Avenue and Broadway, benefiting from heavy pedestrian traffic and excellent visibility in the heart of Downtown Long Beach. 200 Pine is close to the city’s key civic, cultural and business landmarks as well as nearly 5,000 new housing units in Long Beach.

JLL’s Debt Advisory team representing the borrower included director Brad Vansant and analyst Jenna Frakes.

Information for this article was sourced from JLL.