The Port of Long Beach announced on Wednesday that it has purchased a 13‑story office building for $36 million. The property, located at 100 Oceangate in the city’s downtown district, will become a central hub for maritime and logistics companies operating in the region.
Port officials, including Noel Hacegaba, said the acquisition is intended to provide a consolidated space where shipping and logistics firms can coordinate activities. By offering a dedicated location for these businesses, the port aims to streamline operations and foster collaboration among industry participants.
The purchase also serves a broader objective of revitalizing Long Beach’s downtown waterfront. The port authority plans to use the tower to attract additional commercial activity and stimulate economic development in the surrounding area. The building’s central position is expected to draw firms that support the port’s supply chain, potentially increasing foot traffic and ancillary services in the neighborhood.
This transaction is part of an ongoing strategy by the Port of Long Beach to expand its real‑estate portfolio. Over recent years, the authority has been acquiring properties that can support long‑term growth along the waterfront district. By adding the Oceangate tower to its holdings, the port seeks to reinforce its role as a catalyst for regional development and to ensure that the infrastructure needed for future trade remains in place.
The $36 million investment reflects the port’s commitment to leveraging real‑estate assets as a tool for economic planning. Officials anticipate that the new hub will not only benefit existing maritime and logistics firms but also attract new enterprises seeking proximity to the port’s operations, thereby contributing to a more vibrant downtown core.