City Council to Vote on the Acquisition of 125 Elm Avenue
On Tuesday, October 11, 2022, the City Council will vote on the purchase and sale agreement of 125 Elm Avenue with Southern California Edison Company for $21,000,000, and an additional $150,000 in additional acquisition costs, escrow, and closing fees. The property has 1.4 acres of land improved with a 286,334-square-foot five-story building with rooftop deck parking. The building measures approximately 91,411 rentable square feet and is currently vacant.
Since the city’s current leased space for the crime lab requires significant upgrades, LBPD and Economic Development Department staff have been reviewing long-term options. The acquisition of the property will also address the growing needs of the Energy Resources Department and the Long Beach Senior Center. Given the configuration of the office and parking located within the property, there is a potential to accommodate the crime lab, senior center, and administrative offices.
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