TITLE
Recommendation to authorize City Manager, or designee, to execute all documents necessary to enter into a Lease with Long Beach Center Loan, LLC, a Delaware limited liability company, for City-leased office space at 420 Pine Avenue, Suite P-100, for the operation and management of City parking facilities. (District 1)
Levine Act: Yes
DISCUSSION
On October 11, 2005, the City Council authorized the execution of Lease No. 29346 (Lease) with Long Beach Center, LLC (Original Landlord), for office space at 275 E. 4th Street to house the citywide parking operations office (Parking Office) for a five-year term. The space is located within the development formerly known as CityPlace, and is currently occupied by the City of Long Beach (City) parking operator, LAZ Parking, LLC (LAZ). Subsequent Amendments to the Lease were executed in 2010 and 2020, which extended the term of the Lease through September 30, 2022. Since the term expiration, the Lease has operated on a holdover and is currently month-to-month. In March of 2021, Long Beach Center Loan, LLC (Current Landlord) became successor-in-interest to the Original Landlord, who immediately commenced a multi-year effort to redevelop and rebrand the development as Mosaic. The Current Landlord is planning to redevelop large portions of the project to include 900 residential units and 38,405 square feet of commercial space (Project). The Parking Office is currently located within the Project, resulting in a need to relocate the Parking Office.
For the past year, the City, Current Landlord, and LAZ have been working in partnership to find an alternative location to accommodate the Parking Office. The Mosaic development is ideal, as the location is situated near the City’s parking structures, which is convenient and well-suited for security and customer service purposes. With those parameters in mind, the location at 420 Pine Avenue, Suite P-100 (Premises), has been identified as the ideal option to accommodate th...
Click here for full text