FOR IMMEDIATE RELEASE
(949) 863-1910 ext. 27
Newcastle Partners and RREEF Acquire 54.5 Acres in Long Beach, Calif.;
Development Starts on One Million-Square-Foot Mixed-Use Business Community at Douglas Park
Phase I and II of Douglas Park to Include Industrial, Office, Retail and Hotel
Valued at $350 Million Upon Completion; Expected to Create Approximately 2,100 Jobs
Long Beach, Calif. (August 4, 2008)—Newcastle Partners, Inc., a San Francisco-based developer of
industrial, office and business park properties in California and RREEF Alternative Investments, announced they
have jointly acquired 54.5 acres of land at the former Boeing aircraft manufacturing site in Long Beach, Calif. for
the first two phases of development at Douglas Park. The site is a significant portion of Douglas Park, which will
consist of 261 acres upon completion.
Plans for the entire project include four million square feet of commercial space including office,
industrial, retail and hotels along with 9.9 acres of parks. Valued at an estimated $350 million upon final build-
out, Phases I and II will total approximately one million square feet in a master-planned, mixed-use business
environment located West of Lakewood Blvd. and adjacent to the Long Beach Airport and the 405 Freeway.
Phase I will include both office and industrial properties. The office portion totals 165,000 square feet
and will include nine buildings ranging in size from 7,200 square feet to 40,000 square feet that are
available for sale or lease. There will be three single-story buildings and six two-story buildings. The
industrial portion totals 245,000 square feet and will consist of 12, one-story buildings that are
available for sale or lease with buildings ranging in size from 6,140 square feet to 32,258 square feet.
Phase II will include office, hotel and retail properties. The office portion totals up to 500,000 square
feet and w