Investment Overview

Marcus & Millichap is pleased to present to the market the Long Beach City College building located in Long Beach, California. The Long Beach City College Higher Education building is a brand-new facility which was completed in 2023. The property consists of a 3,200-square foot building located in North Long Beach which has had an excess of more than $1,300,000 of tenant improvements recently put in to completely renovate the building from both the exterior and interior. The property is immediately adjacent to the brand-new development called RTHM which will be a mixed use property consisting of 3-story, 2-3 bedroom townhouses with retail on the ground floor. The property is also located next to the BEAT which will provide a venue for artists to collaborate, crafters to make, musicians to perform, chefs to create, poets to express and enthusiasts to experience. The Long Beach City College Higher Education Center was proposed as a campus to improve higher education accessibility for the North Long Beach residents who often do not have convenient transportation to the east and central Long Beach campuses. Long Beach City College’s Adult Education Program offers short-term personal and professional development courses that are open year-round to members of the community who are active Long Beach City college students. The programming plan in place at this property is to offer classes consisting of non-credit and certificate courses offered by Long Beach City College and Pacific Gateway. This offering provides an opportunity for an investor to acquire a very rare desirable Southern California asset, which has a prime location in North Long Beach immediately adjacent to the new developments which are currently underway. This is a brand-new 5-year lease with 3% annual increases with the Long Beach City College.