Ribbon-Cutting at 200 Pine Signals Opening of New Downtown Marketing Suite
2012-04-12 · By Editor
Realm Group partner J.R. Pearce, Long Beach Mayor Bob Foster, DLBA President and CEO Kraig Kojian, and Street Surfing Worldwide CEO Mark Siegel, will be on hand for the ribbon cutting and grand opening of the Downtown Long Beach marketing suite located within the 200 Pine Avenue building.
The 200 Pine Marketing Suite is designed to be a showcase tool for Downtown Long Beach, as a means to attract investment and tenants to the vibrant urban city center.
Since Realm Group LLC acquired 200 Pine, a 70,000 square foot mixed-used tower located in the heart of Downtown Long Beach, California, in 2008, their implementation of a series of strategic improvements and targeted recruiting efforts have resulted in the successful repositioning of the property and a dramatically improved occupancy rate.
Occupancy within the 200 Pine building has increased from 71.5% to 85%, a 13.5% improvement, between period fourth quarter of 2008 and fourth quarter 2011. Over that same time, occupancy for comparable properties (Class B) in Downtown Long Beach dropped from 86.2% to 83.3%, a decrease of 2.9%. On a net basis, Realm’s actions have led the 200 Pine building to outperform its direct competition by 16.4% over the last three years.
The ribbon cutting and grand opening of the 200 Pine Marketing Suite will be held in conjunction with Tecate Thunder Thursday, which kicks off Grand Prix Weekend in Long Beach. Tecate Thunder Thursday is an exciting street party that features dynamic motocross performances, motorcycle stunts, a Pit Stop Competition, a beauty pageant, race, custom and classic car displays, all while a DJ spins throughout the evening.
The invitation-only ribbon-cutting and grand opening takes place tonight, Thursday, April 12, 2012 at 5 p.m. For more information about 200 Pine, visit www.200pine.com.