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Port of Long Beach buys downtown office tower as vacancies surge
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Set us as preferredThe Port of Long Beach has continued to plant roots downtown with the acquisition of an office tower.
The purchase comes as the office vacancy rate in downtown Long Beach reaches an all-time high of 35%, according to data from the Downtown Long Beach Alliance.
Advertisement“It’s a good time to buy,” Port of Long Beach chief executive Noel Hacegaba said in an interview.
“This acquisition is a strategic investment to drive economic development for Long Beach and an opportunity to create a maritime business hub.
The Long Beach Convention Center is hosting handball, water polo and other events, while beach volleyball will be held at Alamitos Beach, and open water swimming and sailing will be at Belmont Shore.