Long Beach, CA – In response to the Gulfstream Aerospace Corporation’s (Gulfstream) recent announcement that it will draw down operations in Long Beach over the next six months, Long Beach Airport (LGB) will be actively seeking interest for this 22 acres of prime real estate located on LGB property.
“Long Beach is leading the way and has one of the best space industries in the country,” said Mayor Robert Garcia. “With its excellent location and a growing list of space industry firms that have emerged around the airport, we expect to see very strong demand for this opportunity.”
Gulfstream currently leases approximately 455,000 square feet of facility space from LGB, of which nearly 250,000 square feet is hangar space, with major facilities on Spring Street and Donald Douglas Drive. Although the aerospace corporation announced a phased closure over the next six months, fully vacating all of the properties may require an extended period of time. Gulfstream is under lease until 2024, though portions of their site may be made available earlier.
“We are collaborating with the Long Beach Economic Development Department to attract interest from businesses that will further strengthen the Long Beach economy and our city’s history as a hub for aviation, innovation and technology,” said Long Beach Airport Director Cynthia Guidry. “This is a unique opportunity for a large area of land that will complement ongoing developments within the LGB Aviation Complex.”
Airport officials are working with Gulfstream to develop an exit plan and, concurrently, will begin preparing a request for proposals (RFP) for aviation-related uses. The RFP will solicit interest for leasing and development of the various spaces and is expected to be released in early 2021. Gulfstream was the successful proposer in response to a 2018 RFP to develop and lease an additional 20 acres on the west side of the airport’s property, but paused those efforts while reassessing their business strategy. The site is currently occupied under short-term agreements, and includes six acres of airfield space, ideal for various aviation needs. This area will also become available in a future request for qualifications and proposals.
As manufacturing jobs have slowly transitioned away from Southern California over the years, Long Beach has experienced a boom in satellite and rocket businesses emerging around LGB. Virgin Orbit, which provides launch services for small satellites, established its headquarters on the north side of the Airport in 2015. It was followed by a new headquarters for SpinLaunch just a few blocks away in 2019 and then, a few months after that, Rocket Lab moved their headquarters to the area.
LGB encompasses 1,166 acres and has three runways. It is unique among municipal airports for its diverse portfolio of Class A office buildings, hotels, retail, industrial facilities and a municipal golf course. A 2018 study found that the Long Beach Aviation Complex generates $8.6 billion dollars annually and supports nearly 46,000 jobs. The complex consists of all business entities north of the 405 Freeway and south of Carson Street, bordered by Clark Avenue and Cherry Avenue.