{"id":383848,"date":"2026-07-02T17:29:23","date_gmt":"2026-07-02T17:29:23","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-ca\/383848\/"},"modified":"2026-07-02T17:29:23","modified_gmt":"2026-07-02T17:29:23","slug":"high-profile-buyer-acquires-downtown-long-beach-shopping-district","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-ca\/383848\/","title":{"rendered":"High-profile buyer acquires Downtown Long Beach shopping district"},"content":{"rendered":"

Long Beach\u2019s waterfront centerpiece<\/a> is heading for a major reset.<\/p>\n

The Pike Outlets, a 394,616-square-foot open-air shopping and entertainment complex overlooking the city\u2019s shoreline, has been sold for $50 million to Newport Beach<\/a>-based real estate firm Redwood West, which is already lining up a multimillion-dollar transformation ahead of the 2028 Summer Olympics.<\/p>\n

Redwood West is partnering on the acquisition with Irvine-based developer Panattoni.<\/p>\n

The Pike Outlets, the 394,616 square-foot Long Beach shopping center, has been acquired for $50 million. thepikeoutlets.com<\/p>\n

Newport Beach real estate firm Redwood West is planning a multimillion-dollar transformation of the shopping precinct. thepikeoutlets.com<\/p>\n

Built in 2003 on 18 acres of city-owned waterfront land that once housed a historic seaside amusement park, The Pike sits steps from the Long Beach Convention & Entertainment Center and the Aquarium of the Pacific.\u00a0<\/p>\n

The project originally cost $130 million to develop.<\/p>\n

Today, it remains a major draw, pulling in roughly 7 million visitors a year and maintaining a strong 91% occupancy rate.<\/p>\n

Its tenant roster includes Cinemark Theatres, Gladstones, Restoration Hardware, Starbucks<\/a> and Nike Factory Store<\/a>, among others.<\/p>\n

Redwood West\u2019s John Pomer said the vision is to turn the waterfront complex into a year-round destination. Kyle \u2013 stock.adobe.com<\/p>\n

Now, Redwood West is preparing to pour $20 million into upgrades, with the Olympics in 2028 acting as a major deadline and catalyst.<\/p>\n

Long Beach will host 18 Olympic and Paralympic events, including water polo, handball and sport climbing, many centered around the city\u2019s downtown and waterfront corridor.<\/p>\n

Some of the planned changes are aimed at turning The Pike into more of an all-day public gathering space than a traditional retail center.<\/p>\n

Plans include upgraded tenant curation, expanded public areas, an event lawn and and on-site art installations. Paul Fisher \u2013 stock.adobe.com<\/p>\n

The Pike sits steps from the Long Beach Convention & Entertainment Center and the Aquarium of the Pacific.\u00a0 Neue Argot \u2013 stock.adobe.com<\/p>\n

Plans include upgraded tenant curation, expanded public areas, an event lawn, improved landscaping and seating, digital signage and on-site art installations.<\/p>\n

\u201cWe are making a concerted effort to effectuate as much improvement prior to the Olympics; however we will be on a five-year plan,\u201d said managing partner Colby Cyburt. \u201cCapital will be spent towards upgrading tenancy through a thoughtful, curated merchandising mix, place-making including various upgraded public areas including an event lawn, enhanced landscaping and seating areas, digital signage, and on-premise art.\u201d<\/p>\n

Redwood West principal John Pomer said the vision is to lean into the waterfront setting and turn the complex into a year-round destination.<\/p>\n

\u201cGreat destinations bring people together,\u201d Pomer said. \u201cThe Pike\u2019s waterfront is one of Long Beach\u2019s greatest assets. Our vision is to create a vibrant gathering place with experiences, events, and public spaces that invite residents and visitors to connect with the community year-round.\u201d<\/p>\n

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The Pike generates significant sales tax revenue for Long Beach.
Kirk Wester \u2013 stock.adobe.com<\/p>\n

Beyond physical upgrades, Redwood West will take over property management, leasing, marketing and operations, bringing what it calls a hospitality-driven approach to the site.<\/p>\n

The firm already has experience in similar lifestyle destinations, including Lido Marina Village and Peninsula Village in Newport Beach, as well as office properties across Orange County <\/a>such as 51 Columbia in Aliso Viejo and assets on Campus Drive and Von Karman Avenue.<\/p>\n

Its development partner Panattoni is a global industrial and logistics heavyweight known for massive distribution projects across North America and Europe, including Whirlpool facilities in Atlanta, Seattle and Aurora, and the CalSTRS headquarters in West Sacramento, a Gold LEED-certified waterfront development.<\/p>\n

Long Beach officials and residents also have a financial stake in The Pike\u2019s performance, with the property generating significant sales tax revenue and historically benefiting from city-backed infrastructure investments, effectively creating a two-way relationship between the city and the retail hub.<\/p>\n

As the 2028 Olympics approach<\/a>, the waterfront district is expected to become a high-traffic international showcase, and The Pike is now positioned squarely in the spotlight.<\/p>\n

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