The Long Beach Towne Center, a 100-acre complex on Carson Street in East Long Beach, has been sold for $143 million to CenterCal Properties of Costa Mesa and New York-based DRA Advisors.
The center, the largest outdoor mall in Long Beach, has 870,000 square feet of leasable space and is anchored by 75 retail and service stores, restaurants, 4,500 parking spaces and a 26-screen Regal Edwards theater.
Its sale on Aug. 19 marks the first transfer of ownership for the property since its 1998 construction, a replacement for the former naval hospital decommissioned in 1994.
Its construction was a $70 million venture by its previous manager, the Phoenix-based Vestar Property Management, that was announced in 1992 — one year after the federal government ordered the naval hospital closed…