LONG BEACH, CA—San Diego-based Parallel Capital Partners has acquired the Shoreline Square office tower from Guggenheim Real Estate for $101.7 million. Located at 301 East Ocean Blvd. in Long Beach, the 20-story, 383,652-square-foot office tower is LEED-Silver certified and poised to become LEED-Gold certified this year.   

“One of the most desirable coastal markets in the region, Downtown Long Beach is undergoing a significant renaissance and transforming from a maritime-centric economy into one of Southern California’s most diversified and dynamic waterfront urban destinations to live, work and play,” says Matt Root, Parallel Capital Partners CEO, who adds that the building sits in Los Angeles County’s only central business district on the waterfront.

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