City Place Long Beach

City Place is a 350,000 SF open-air urban shopping center in downtown Long Beach, CA, a fast-densifying live-work-play submarket within LA County. The 14-acre property was purchased at an attractive basis via the off-market acquisition of a non-performing senior loan from a bank lender. The property benefits from downtown Long Beach’s unique combination of world-class waterfront and urban amenities such as walkability, quality retail, and access to transit. Turnbridge successfully renovated and re-tenanted the retail component, raising occupancy from 51% to 81%, and re-entitled 5.5 acres for up to 900 multifamily units. In May 2024, Turnbridge sold a 1.6-acre parcel, entitled for 272 units, to a national multifamily developer, and in May 2026, sold the 148,000 SF retail component. Turnbridge continues to hold a 3.9-acre parcel entitled for up to 628 units.