Port buys Oceangate office tower in $36 million deal to lure companies back to a struggling downtown

In a first-of-a-kind effort to draw maritime companies to downtown Long Beach, the city seaport has purchased a 13-story Oceangate office tower for $36 million to establish a permanent operational center that will lease space to its trade partners.

The deal is the marquee move of Anchor LB, a development strategy pitched by Mayor Rex Richardson during his State of the City in January to encourage companies that conduct business in the seaport — logistics firms, supply chain tech startups and customs brokers — to move their headquarters into prime office space downtown.

“The companies that power Long Beach should have a presence in the heart of Long Beach,” Richardson said in a news release…

Story continues

TRENDING NOW

LATEST LOCAL NEWS