Despite Pandemic, Long Beach’s LBX Retail Center Sells In $160 Million Deal

While the coronavirus pandemic may have negatively impacted the retail industry, a pair of commercial real estate companies are banking on people continuing to visit and shop at retail centers in person despite the ongoing pandemic situation.

A joint venture between San Jose-based private equity real estate and development firm DJM and PGIM Real Estate has acquired the Long Beach Exchange, more commonly known as LBX, from Newport Beach-based Burnham-Ward Properties in a reported $160 million deal. Read more at Spectrum News 1.