LONG BEACH, CALIF. – Local developer Urbana Development, LLC, has acquired five acres of land Douglas Park in Long Beach. The developer plans to build two Class A medical office buildings that total 90,000 square feet on the site. The land was part of a 160-acre plot that is situated adjacent to Long Beach Airport. It was acquired by SARES•REGIS Group (SRG) from Boeing Realty Corp. in 2012. This is the first land sale SRG has executed on the site. SRG plans to develop up to 3.2 million square feet of premier office, industrial and retail facilities on the site. Urbana was represented by Jeff Colburn and Shaun McCullough at the Long Beach office of Lee & Associates. SRG was represented by Rick Warner and John Ayoob in CB Richard Ellis’ South Bay office.
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