Arco Center, the largest office complex in Long Beach, has been sold by Norland Properties, San Francisco, for more than $60 million to Swig Weiler & Dinner Development Co., San Francisco, in partnership with Harry Macklowe Real Estate Co. Inc., New York.
The purchase of the 436,000-square-foot twin-tower project at 200 Oceangate is the first Southland investment for Swig Weiler & Dinner and the first West Coast investment for the Macklowe concern. The partnership is called Pacific Towers Associates.
Major tenants in the 14-story buildings include Arco Transportation Co., TRW, THUMS, Borg Warner, Lloyds Bank and Maersk Shipping Lines.
Arco Center is within walking distance of the city's new Convention and Entertainment Center, City Hall, financial institutions and the $550-million Greater Los Angeles World Trade Center/Long Beach, now under construction.