Airport Plaza

Location: Long Beach, CA
Type: Office
Price: $22,000,000

SMC has provided a $22,000,000 ten-year fixed rate mortgage for the refinance of Airport Plaza, a Class A, multi-tenant office building located in Long Beach, California. The Property is located in the Long Beach Airport Business Park, a 42.1-acre office development immediately adjacent to Long Beach Airport and the San Diego Freeway. The collateral consists of two adjoining 3-story multi-tenant buildings totaling 150,730 SF and a three story parking structure containing 764 parking spaces (5 / 1,000 SF). The Property is currently 91% occupied by six tenants. The Property serves as the headquarters to the largest tenant, Traffic Management, Inc., which occupies approximately 33% of the total square footage, and is also home to other national companies such as Redfin, ADP, and Healthcare Partners.