Long Beach's Mosaic retail properties sell for $30 million
A six-building retail portfolio in downtown Long Beach is changing hands.
The 148,405-sq.-ft. Mosaic property collection, which spans multiple city blocks, has been purchased for $30 million ($202 per square feet) by Mosaic Promenade Holdings LLC. John Read and Erin Smith of CBRE’s Retail Investment Properties – West represented the seller, a partnership of Turnbridge Equities, Waterford Property Company and Monument Square Investment Group.
The Mosaic properties were constructed between 2002 and 2004, and feature a strong mix of national, regional and local tenants, including Ross Dress for Less, Studio One Eleven/RDC, Ammatoli, Pacific Dental, Panda Express, Wingstop, GNC, GameStop, U.S. Army, U.S. Armed Forces, City of Long Beach and more.
At the time of sale, the properties were 78% occupied. CBRE said that the acquisition positions the buyer to continue leasing activity while advancing the "long‑term vision for Mosaic as a central community hub in downtown Long Beach."
According to 2025 U.S. Census data, Long Beach has a population of more than 450,000 million, with a median household income of $87,430.
“Mosaic’s scale, location and pricing attracted strong interest from private capital investors seeking urban retail opportunities in coastal Southern California,” said John Read, senior VP at CBRE. “The portfolio offers a combination of in-place income and leasing upside in a well-established downtown location.”
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The sale marks a second major Long Beach commercial real estate transaction in recent months. Real estate investment firm Redwood West, in partnership with development company Panattoni, acquired waterfront retail and entertainment center The Pike for $50 million at the end of June.
The property is anchored by Cinemark Theatres, with high-profile tenants including Restoration Hardware, EōS Fitness, Nike Factory Store, H&M, Levi's, P.F. Chang's, Gladstones, California Pizza Kitchen, Starbucks and more.
