DJM in partnership with PGIM Real Estate has purchased Long Beach Exchange (LBX), a 246,500 square-foot, open-air lifestyle property in Long Beach, Calif. from Burnham-Ward Properties. The sales price was not disclosed.
“We plan to double the square footage of our assets under management and focus on aggressive growth within our company,” said Lindsay Parton, president at DJM. “
Grocery-anchored LBX features a mix of best-in-class retail, fitness, daily needs and dining, including Whole Foods, Handel’s, Orange Theory, Ra Yoga, Silverlake Ramen, Ulta, Nordstrom Rack, and The Hangar, a 17,000 square-foot food hall.
“Although COVID undoubtedly impacted retail across all sectors, we’re now experiencing a tremendous return to growth across our entire portfolio, with foot traffic and sales numbers surpassing even pre-pandemic figures” said Chad Cress, COO at DJM. “This rebound, which reinforces the ever-changing nature of retail, is due largely in part
