Photos courtesy of “The Current.”
The newest downtown luxury high-rise “The Current” has selected its lease agency, CBRE’s Long Beach team, developers Anderson Pacific, LLC and Ledcor Properties, Inc. announced today.
According to a release issued Thursday afternoon, the $70 million, 17-story mixed-used, 223-unit rental tower is now halfway completed.
“With an extensive track record, CBRE represents one of the highest caliber brokerage companies in the country,” said Jason Silver, development project manager of development organization Ledcor Properties, Inc. in a statement. “They are very active in the Long Beach area and have an intimate understanding of the local market. We believe this combination will lead to success for this landmark building and the broader community.”
The building, located at Ocean Boulevard and Alamitos Avenue, has targets that include coffee shops and cafes at the ground level, with additional shop space for tenants that will serve as an amenity for the building and local restaurants.
“We are excited to be working with the CBRE team to find a well-suited and complimentary tenant mix for the 6,125-square-foot ground floor retail,” says Ryan Altoon, executive vice president, AndersonPacific, LLC in a statement. “Their expertise and excellent contacts will be a great asset to our project, which is designed for residents and patrons who appreciate urban amenities in proximity coastal living.”
Kelly Dent, retail specialist with CBRE said the building was indicative of the downtown Long Beach’s renaissance.
“This Class A hi-rise will have prime restaurant space downstairs within walking distance to the waterfront, the downtown area, and The Pike,” she said.
This story was updated on 7/1/15, correcting the nature of the selected organization, which was CBRE, a retail leasing agency.