News Release: Shopoff Realty Investments Acquires 13.75-Acre Property in Buena Park, Calif. for Future Residential Development
Shopoff Realty Investments (“Shopoff”) a national manager of opportunistic and value-add real estate investments, announced that, in partnership with a national home builder, it has acquired a 13.75-acre property in Buena Park, California, that it plans to re-entitle for residential use. The property is currently occupied by Amway Corporation with a corporate sale-leaseback in place.
The project is located in Orange County, with direct access to the major thoroughfare Beach Blvd. It’s adjacent to the Metrolink line and less than a mile from both the Interstate 5 and State Route 91 freeways. The property is currently developed with two industrial buildings totaling approximately 370,031 square feet of space.
The city is supportive of Shopoff’s plans to re-entitle the site for residential use, which is anticipated to streamline the approval process.