Redwood West has partnered with Panattoni to acquire The Pike in Long Beach, a waterfront retail, dining and entertainment destination. The lifestyle center, located at 95 S. Pine Ave., combines shopping, restaurant and experiential uses in a single campus setting along the citys waterfront.
While the buyers did not release pricing details in their announcement, SITE Centers Corp. separately reported that it sold the 394,616-square-foot property for $50 million. The Pike was originally delivered in 2003 and has since been established as a regional retail and entertainment draw.
The center is currently 91% leased, indicating a largely stabilized occupancy profile at the time of sale. The tenant mix spans national retailers, food and beverage operators and entertainment concepts, supporting a broad customer base across dayparts. Reported tenants include Restoration Hardware, Cinemark, EōS Fitness, Nike Factory Store, H&M, Levis, P.F. Changs, Gladstones, California Pizza Kitchen and Starbucks.
The new ownership group plans to commit an additional $20 million of capital into the property. According to the announcement, this investment will prioritize new leasing, initiatives to support existing tenants and programming aimed at community engagement and activation. The focus on both tenant retention and new leasing suggests an effort to refine the merchandising mix while reinforcing the centers role as a community gathering place.
Commenting on the transaction, John Pomer, principal of Redwood West, described the waterfront setting as one of Long Beachs key strengths. He outlined a vision for The Pike as a year-round destination featuring experiences, events and public spaces designed to connect residents and visitors with the surrounding community.
The combination of a largely leased property, an established lineup of national brands and a material post-acquisition capital plan positions The Pike for an operational refresh under its new ownership. With SITE Centers Corp. exiting the asset and Redwood West and Panattoni stepping in with fresh investment, the transaction marks a shift in the stewardship of one of Long Beachs prominent retail and entertainment properties.
