Edison Building

  • City of Long Beach obtained ownership of a 135,000 square foot, 12-story building from Southern California Edison. The building is located the heart of Relevant Experience and Development Qualifications downtown Long Beach.
  • The City deliberated over re-use strategy alternatives that compare public versus private use of the asset. The City identified 36 leases scattered across the City that host City functions but requiring lease obligations at market-rate rents.
  • Griffin/Nuquest evaluated 36 leases for compatibility to relocate and centralize into the existing building together with a net present value analysis of each lease. Value consideration of market leases versus cost of rehabilitating the building to determine the efficiency and potential lease cost savings of relocating some of the leases into the Edison building to create a City Hall East. Provided the City with a series of recommendations for the best utilization of the publicly asset. The recommendations emphasize public and economic benefit to the City.