February 9, 2017 Comments Off on Anaheim Warehouse Targeted for Residential Redevelopment Views: 416 California News, Orange County

Anaheim Warehouse Targeted for Residential Redevelopment

Irvine, CA-based Shopoff Realty Investments, in partnership with funds managed by Argosy Real Estate Partners, acquired a 20.5-acre property in Anaheim, CA through a sale-leaseback transaction. The new owner plans to renovate the asset into a residential property.

The existing 356,187-square-foot distribution warehouse and office space at 901 E. South St. in the Anaheim Colony is occupied by Freeman. The corporate seller has been retained as a tenant, and plans to lease the property for 15 months.

Shopoff’s John Santry said, “The sale-leaseback structure of the acquisition provides cash flow during the entitlement phase of the new residential project. The proposed replacement of this large warehouse facility with a beautifully designed residential development will follow the City of Anaheim’s current Residential Opportunity Overlay Zone for the area.”

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