JLL Capital Markets has arranged a $7.5 million permanent, fixed-rate loan to refinance 200 Pine Avenue, a 64,376-square-foot Class A retail and office property in Downtown Long Beach, California. JLL Director Brad Vansant and Analyst Jenna Frakes secured the financing on behalf of the borrower, Bascom Group.
Situated at the corner of Pine Avenue and Broadway — the heart of Downtown Long Beach’s entertainment district — 200 Pine Avenue is a six-story building featuring Class A common areas, modern tenant improvements, and an attached 123-stall parking structure. The property was renovated in 2022 and is currently 81% leased to 15 tenants across a diverse range of industries.
Recent leasing momentum has been strong at the property. Restaurant and sports bar Dirty Birds recently signed a lease to occupy 3,039 square feet of ground-floor retail space, joining existing tenants Agaves Kitchen & Tequila and Agaves Ultra Lounge. An additional 4,923-square-foot lower-level space remains available for lease, suited for a nightclub or entertainment concept.
The building is well-positioned for continued growth, with proximity to nearly 5,000 new housing units in Long Beach, major civic and cultural landmarks, and key public transportation including the Metro A Line. Downtown Long Beach continues to benefit from long-term development initiatives and growing investment momentum ahead of the 2028 Olympic and Paralympic Games.
Bascom Group, a minority-owned private equity firm specializing in value-added multifamily and commercial real estate, has completed over $22 billion in multifamily transactions and $5.8 billion in commercial transactions since 1996. The firm acquired 200 Pine Avenue as part of its broader commercial real estate strategy and has actively been repositioning the asset through renovations and strategic leasing.