{"id":9534,"date":"2025-10-17T11:36:20","date_gmt":"2025-10-17T11:36:20","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-ca\/9534\/"},"modified":"2025-10-17T11:36:20","modified_gmt":"2025-10-17T11:36:20","slug":"centercal-dra-acquire-long-beach-towne-center-for-145m","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-ca\/9534\/","title":{"rendered":"CenterCal, DRA Acquire Long Beach Towne Center for $145M"},"content":{"rendered":"\n

Costa Mesa-based CenterCal Properties<\/a>, a premier retail and mixed-use developer and operator, and DRA Advisors<\/a>, a real estate private equity firm, acquired Long Beach Towne Center from Vestar for $145 million.<\/p>\n

\u201cDRA is excited to partner with CenterCal on this iconic property,\u201d said Brett Gottlieb<\/a>, senior managing director at DRA Advisors, in a statement. \u201cCenterCal\u2019s expertise in placemaking and tenant curation will ensure that Long Beach Towne Center continues to thrive and remain a premier destination for decades to come.\u201d<\/p>\n

DRA and CenterCal, in partnership with the City of Long Beach, will implement a comprehensive reinvestment strategy for the 870,000-square-foot retail center designed to elevate the guest experience, strengthen the merchandising mix and create vibrant community gathering spaces.<\/p>\n

\u201cLong Beach Towne Center is already a cornerstone of the community, and we see tremendous potential to make it even more dynamic and relevant for today\u2019s consumer,\u201d said Jean Paul Wardy<\/a>, chief executive of CenterCal Properties, in a statement. \u201cTogether with DRA, we will transform Long Beach Towne Center into a destination that brings people together, drives strong results for our retailers and creates long-term value for the community.\u201d<\/p>\n

Information for this article was sourced<\/a> from the CenterCal.<\/p>\n","protected":false},"excerpt":{"rendered":"Costa Mesa-based CenterCal Properties, a premier retail and mixed-use developer and operator, and DRA Advisors, a real estate…\n","protected":false},"author":2,"featured_media":9535,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[33],"tags":[9235,9238,1409,179,9242,1758,9236,9243,9241,131,133,132,63,9239,9244,9240,9237,3025],"class_list":["post-9534","post","type-post","status-publish","format-standard","has-post-thumbnail","category-long-beach","tag-centercal","tag-chief-executive","tag-city","tag-community","tag-costa-mesa-based-centercal-properties","tag-director","tag-dra-advisors","tag-expertise","tag-jean-paul-wardy","tag-long-beach","tag-long-beach-headlines","tag-long-beach-news","tag-los-angeles-times","tag-mixed-use-developer","tag-operator","tag-partnership","tag-premier-destination","tag-statement"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/posts\/9534","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/comments?post=9534"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/posts\/9534\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/media\/9535"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/media?parent=9534"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/categories?post=9534"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/tags?post=9534"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}