International City Bank Building

249 East Ocean Avenue Long Beach, CA

110,000 Square Foot Office Building


Details

Date Purchased: February, 2003
Purchase Price: $14,600,000
Sale Price: $21,917,000
Sale Date: January, 2018
Holding Period: 360 months

Completed Business Plan

  • Acquired 249 E. Ocean in 2003 through the exchange of our 4130 Cahuenga property.
  • Performed renovation of common areas and tenant suites.
  • Executed multiple leases to stabilize the property.
  • Sold the project after 15 years and executed a 1031 exchange.

Persius Creative