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3/23/15
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There’s been considerable activity to report at Douglas Park, a master-planned, mixed-use business district on the northern border of Long Beach Airport. Sares * Regis Group (SRG) purchased 194 acres at Douglas Park in 2011 and 2012 from Boeing Realty Corp and has been actively developing, selling and leasing land and commercial facilities.
In the largest deal, Burnham USA Equities Inc, out of Newport Beach, purchased 26 acres from SRG for a planned hotel and retail center. Burnham is planning to develop The Village at Douglas Park, a retail project that will contain restaurants, shops and at least one hotel. It will be located at Carson Ave and Lakewood Blvd.
In another recent deal, Nautilus International Holding Company – parent to Metro Ports, one of the West Coast’s oldest terminal operators and stevedore companies – acquired 2.5 acres for development of a new 40k sf headquarters building, which already under construction. The company is relocating from Wilmington, its headquarters since 1922.
2H Construction of Signal Hill also bought two acres, on which the company is planning to build industrial facilities totaling 40k sf. In addition, SRG is marketing two parcels totaling 25 acres for development with office, medical or flex commercial facilities.
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