1600 Forbes Way
Industrial | 67,502 SqFt
Marketing description
CBRE, Inc., as exclusive advisor, is pleased to present 1600 Forbes Way (the “Property” or “Building”), a 67,502 SF flex building in infill Long Beach, CA. The 3.5-acre site is in the highly desirable South Bay market, with immediate access to the 710 and 405 freeways, and 7 miles from the Ports of Los Angeles and Long Beach.
Current zoning allows a wide range of commercial/industrial uses, presenting investors with the unique opportunity for industrial redevelopment or repositioning of the existing improvements including warehouse, manufacturing, or office. Upon sale, SES (“Owner”) will leaseback the entire premise on a triple net basis for 18 months with one six-month option to extend. SES is a leading global space solutions company that operates the world’s only multi-orbit satellite network, delivering high-performance connectivity and video services to governments, telecom providers, broadcasters, and enterprises across more than 80 countries.
Investment highlights
SHORT-TERM LEASEBACK - The short-term leaseback, and known vacate of SES, provides
strong in-place income with a clear path to the land and an optimal time-period to finalize development plans
FAVORABLE INDUSTRIAL ZONING - Site is zoned for various industrial uses including distribution and manufacturing, in the City of Long Beach, allowing 55% max coverage
PRIME ACCESS - Located at the intersection of the 405 and 710 freeways, and provided with multiple points of ingress and egress off Via Oro Ave, Hughes Way, and Forbes Way
HIGH TENANT RETENTION - South Bay market attracts high quality, sticky users on account of proximity to the Port of Los Angeles/Long Beach complex and LAX
SUPPLY CONSTRAINED - This established, infill market has very few opportunities for redevelopment, and is regarded as one of the strongest rent growth markets in the country
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