Another prolific developer from the Pacific Northwest is doubling down in Long Beach.
According to multiple published sources, Holland Partner Group has paid $41 million to acquire Congressional Place, a two-story, 74,000-square-foot office building at 6700 East Pacific Coast Highway. The roughly 2.5-acre site, which sits on the border between Long Beach and Seal Beach, is slated for redevelopment with housing.
The site was sold by ValueRock Realty, which reportedly acquired Congressional Place for $24 million in 2017.
Holland Partner Group's move comes just months after Onni Group paid nearly $68 million for the neighboring Marina Shores shopping complex at 6500 Pacific Coast Highway, which is also poised to be redeveloped with housing. Onni and Holland Partner Group have previously invested in ground-up construction in Long Beach through the Broadway Block and Volta on Pine developments, respectively.
Congressional Place and Marina Shores both sit a short walk from 2nd & PCH, a large retail center anchored by Whole Foods which opened in 2019 on the former site of the SeaPort Marina hotel.
- Long Beach (Urbanize LA)