ARCO Center Lands 100,000-SF HQ Lease

Industry sources peg the total consideration for the lease at $25 million although terms were not disclosed. The building owner, the Swig Co., says this is believed to be the largest single lease signed by a non-government entity in Long Beach in the last 10 years.

David Smith of CB Richard Ellis Inc. tells GlobeSt.com that Earth Tech will be moving to its new space in December. The move comes at just about the same time that Earth Tech's 15-year lease expires on its current headquarters at 100 W. Broadway in Long Beach, where it occupies 60,000 sf.

Smith and Gregg Kirkpatrick of CB Richard Ellis negotiated for the building owner in the transaction. Earth Tech was represented by Larry Rieder and Frank Scott of CB Richard Ellis.

Earth Tech, which employs more than 8,000 people in nearly 200 offices throughout the world, will occupy 5 1/2 floors in the 300 Oceangate building at ARCO Center, which consists of twin 14-story buildings totaling 459,000 sf that were built in 1983. Smith tells GlobeSt.com that the refurbished complex will reach approximately 90% occupancy when Earth Tech moves into its office space.

Cory Kristoff, general manager of ARCO Center, notes that Swig has completed a retro-fit of the building's fire, life safety, security and access systems, adding new graphics throughout the building, along with repainting the complex and adding new lighting in the underground parking structure.

The Swig Co., headquartered in San Francisco, is a 60-year-old private investment company that owns more than seven million sf of office buildings in New York, San Francisco, Southern California and Houston, as well as more than 1,500 luxury hotel rooms, approximately 650,000 sf of industrial space and other properties.