Owned and operated by Parallel Capital Partners, a commercial real estate investment and operating company, the 20-story Shoreline Square encompasses 410,114 square feet of premier office space.
According to Matt Root, CEO of Parallel Capital Partners, Shoreline Square is currently 87% percent leased, an impressive figure considering pandemic related challenges. This is a highly desirable property ideally located near the ports of Long Beach and Los Angeles in a dynamic and diversified waterfront urban locale and is also LEED-Gold certified, with a 91 Energy Star score, the equivalent of using 42% less energy than the national median average for similar building size, location and type, Root said. Adding to the buildings appeal, he said, is the recent installation of a state-of-the-art needlepoint bipolar ionization air sterilization system designed to protect people from pathogens and eliminate pollutants in the air.
Part of a master-planned, mixed-use development in the heart of the Long Beachs Central Business District, the Shoreline Square building is also home to Comerica Bank, Tesoro Refining & Marketing Company, Mieco, Inc, the State of California and Dassault Systems Americas.
Brian Saal of CBRE represented Parallel Capital Partners and John Winnek of Cushman & Wakefield represented both tenants.
About Parallel Capital Partners, Inc.
Parallel Capital Partners, Inc. is a private, fully integrated real estate investment and operating company focused on acquiring value-added and core-plus opportunities for its own account in primary and secondary markets in the Pacific Southwest, including Hawaii. Parallels current property holdings include over five million square feet and a valuation of more than $1 billion with over two million square feet in the greater Phoenix metro area. For more information visit www.parallelcapitalpartners.com.