Griffis Residential Acquires 221 Apartment Homes in Long Beach
Griffis Residential is pleased to announce that it has acquired City Place Apartments, a 221-unit Class-A multifamily community located in the Los Angeles metro area. Effective immediately, City Place has been renamed Griffis Pine Avenue.
Built in 2004 on a 2.6-acre site, Griffis Pine Avenue offers studio, one-, and two-bedroom apartment homes averaging 861 square feet in one of the liveliest submarkets in Los Angeles. The community is situated in the six-block, 350,000 square foot shopping center known as “The Streets.” Formerly known as City Place Shopping Center, the pedestrian-oriented, open-air center is undergoing a $15 million staged redevelopment project aimed at upgrading building facades and modernizing retail suites.
In addition to more than 40 restaurants and over 3.7 million square feet of Class A office space within walking distance, Griffis Pine Avenue also suits a transit-oriented lifestyle. The 5th Street Blue Line station is located just two blocks away, which serves 80,000 riders per day. The Blue Line provides direct access to Downtown Los Angeles in less than an hour as well as Santa Monica via a connection with the Exposition Line.