Cedarwoods Business Park, Fullerton

December 18, 2023

Address: 2461-2495 E. Orangethorpe Ave., Fullerton

Description: 85,700 Sq. Ft. Multi-Tenant Business Park (Cedarwoods Business Park)

Seller: A Private Investor (Represented)

Buyer: HK Ventures, Inc. (Represented)

Assignment: Identify a Buyer for a site that is ideally configured for the redevelopment of a State-of-the-Art distribution building and in spite of shortage of capital for new development, the Team generated 12 offers to purchase from developers.

Result: The Team ultimately identified a buyer who closed escrow in sixty (60) days without any development entitlements. The purchase price equated to $226.95 per square foot and $93.21 per square foot on the land area, a 25-30% per square foot discount from the peak North Orange County Industrial land values seen in 2022.

Total Value of the Transaction:  $19,450,000