Long Beach Traffic Circle Hosts A ‘Retail Renaissance’Release Date: 2019-02-25
By: Pierce Nahigyan
Located in the heart of Long Beach’s 4th District and at the intersection of three major streets – Lakewood Boulevard, Pacific Coast Highway (PCH) and Los Coyotes Diagonal – the Traffic Circle is awhirl with commuters and commerce. More than 60,000 vehicles travel through the roundabout every day, according to a 2017 report from the California Department of Transportation.
“It’s a great landmark,” 4th District Councilmember Daryl Supernaw told the Business Journal. “And that connection to the I-405, right up Lakewood Boulevard, is a huge benefit.” Developers have taken notice of the area, Supernaw said, and the last few years have seen a “retail renaissance” in the properties that ring the Traffic Circle.
New construction has been concentrated in the wedge of land bordered by PCH, Atherton Street and Ximeno Avenue. Frontier Real Estate Investments purchased land on the corner of PCH and Ximeno, where it developed the buildings for tenants Chase Bank, Carl’s Jr. and Rite Aid. “It’s such great real estate there on the Traffic Circle,” Frontier Vice President of Acquisitions Tom Carpenter said. “Just the amount of traffic, the density around there, it’s a great trade area.” Retailers report significant sales volume, he continued, and tenants in other areas have expressed interest in relocating.
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