LAB Holding Bets On Long Beach
Costa Mesa's LAB Holding got the go-ahead last week from the Long Beach City Council to pay $2.58M for 30 parcels of city-owned property near the corner of Atlantic Avenue and South Street to build a retail center.
Shaheen Sadeghi's LAB Holding will buy the 30 properties, totaling 176,613 SF, and also pay $4.36M for 18 parcels in the area, according to the Orange County Business Journal.
The retail center could be called North Village Center.
Construction is expected to take 18 months, and it could open in summer 2019. [OCBJ]