KB Home is converting a former office complex in northeast Anaheim into 83 townhomes.
Land Advisors Organization, which represented the property seller, said Sunkist Townhomes will sprout from the 4-acre property at 2420 and 2450 East Lincoln Ave. at the intersection of Sunkist Street.
KB Home is building a three-story complex that will include attached garages and 24,852 square feet of recreation space with a tot lot, barbeques, seating areas, a dog park and community garden.
KB Home, which bought the land from Albert & Sons Real Estate I LLC, expects to break ground later this year.
Newport Beach offices sold to housing developer
Let’s call this one a Newport Beach trifecta with yet more office space yielding to housing.
Newport Beach-based Buchanan Street Partners sold a two-building, 42,697-square-foot office property in Newport Beach to an unidentified Newport Beach real estate firm for $20.4 million.
RELATED: New bill aims to convert California’s offices into housing
The buyer was “a residential developer,” Buchanan reps said, though they offered no further details on plans for the property at 1400 and 1420 Bristol Street North.
“We were in the process of implementing the adaptive reuse of the buildings when we entered into negotiations with a residential developer,” said Matt Haugen at Buchanan Street Partners. “Based upon the property’s flexible zoning, we were able to accelerate our investment realization through a sale …”
Buchanan bought the campus in 2020 for $11.5 million. The 45-year-old buildings were just 22% leased at the time of the sale.
Goddard School signs 75-year lease in Tustin
A Goddard School is coming to the north side of Tustin’s District Legacy community.
PJRJPA Venture LLC signed a 75-year ground lease with South Orange County Community College District for 1.44 acres. The transaction is worth $27.3 million, according to NAI Capital Commercial, which represented the landlord.
PJRJPA Venture is building the…
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