JPI, a multifamily developer and investment manager based in Irving, Texas, has purchased a retail building on 1.58 acres in Long Beach, California, for $14.7 million. JPI bought the property from a trio of California developers — Turnbridge Equities, Waterford Property Co. and Monument Square Investment Group — for land value, putting the price at slightly more than $9.3 million per acre.
RELATED ARTICLES
This news story is available exclusively to CoStar subscribers.
Watch the video to learn how you can access industry leading CRE news and the data analytics you need to drive success.
This news story is available exclusively to CoStar subscribers.
Ready to Learn More?
Sign Up For a Personalized Demo.
Sign Up For a Demo To Learn More.
Already A Subscriber? Sign In
IN THIS ARTICLE
- Properties
- Bldg. B
200 4th St, Long Beach, CA
- Companies
- JPI Companies
Construction
- Waterford Property Company LLC
Real Estate
- Turnbridge Equities
Real Estate
- Newmark
Real Estate
- Contacts
- Kevin Shannon
Co-Head of U.S. Capital Markets, Newmark
- Christopher Benton
Senior Managing Director, Newmark
- Ken White
Vice Chairman, Newmark
- Anthony Muhlstein
Managing Director, Newmark
- Gabe Munson
Associate Director, Newmark