Introducing Catalina Landing, re-imagined
You may recall departing Catalina Landing on the Catalina Express. The property, unfortunately, fell to disrepair and deteriorated under prior ownership. If you are not familiar, Catalina Landing is a waterfront 4-building campus totaling 280,000 sq. ft. located at 310-340 Golden Shore in Long Beach, California.
The unique waterfront location and need for capital investment led to a great opportunity for the project's new owner, Colony Northstar (CLNS), to not only repair the neglected property but to enhance aesthetics, utility and attractiveness to new and current tenants alike. A once desolate exterior is now teeming with life and creating community.
CLNS acquired Catalina Landing in 2015 and engaged Rising Realty Partners to provide 3rd Party Property Management Services. Rising brought a thorough “Asset Enhancement Program” to the assignment, and implemented capital projects focused on creating a lifestyle workplace, with a focus on community and sustainability.
The plans highlights are:
- Removal of two large harborside landscape berms transforming dungeon-like $1 psf storage space into 25,000sf of lifestyle office space with two private waterfront patios. The space is now full of natural light from all sides and is the premier availability at the property; the space will justify one of the highest rental rates at Catalina Landing and is the most unique office space in Long Beach.
- 5x5 Telecom provides the fastest free wifi in the world (200mb x 200mb) combined with Connectible Square Footage™ - tenants can have their own private wifi throughout all the new outdoor common areas. Catalina Landing was previously without high-speed fiber connectivity, but now tenant's enjoy a faster and lower cost alternative to major carriers. In addition, Connectible Square Footage™ effectively expands tenants functional workspace by thousands of square feet. 5x5 customers save $.05 to $.30/ft/mo through substantial reduction in their telecom cost. Every new tenant at Catalina Landing uses 5x5, and existing tenants are converting to this fast, valuable, cost-saving amenity.
- Catalina Landing tenants' favorite new amenity is the Promenade Lounge, an outdoor ocean-view tenant patio with shaded space to work or play, the space is also available for private events.
- Sustainability initiatives were undertaken with the installation of EV charging stations, upgrade of landscaping to drought tolerant and native plant species, and the use of renewable hardwoods throughout the exterior common areas.
In addition to these substantial changes, The Asset Enhancement Program also includes modernized elevators, upgraded restrooms, and welcoming lobbies. Best-in-class property amenities include a fitness center, conference center, Long Beach Bike Share and daily catered lunches by Fooda in the onsite cafe.
These dramatic improvements are just the beginning of the incredible things happening at Catalina Landing in Long Beach. 2018 will bring a new batch of groundbreaking initiatives, stay tuned!
Contact Marc Gittleman, EVP Property services, to learn more about how we can help you increase the value of your asset.