75 Unit Condo Development in the Irvine Business Complex.
Irvine, CA – Land Advisors Organization, California Division (“LAO-CA”), a nationwide advisory firm focused on the acquisition and disposition of land and land-related assets, is pleased to announce the successful sale of a 75 unit multi-use project located at 17817 Gillette Avenue in Irvine, CA.
The site, located in the highly desirable Irvine Business Complex, is central to jobs, shopping amenities and conveniently surrounded by some of the California’s major highways and freeways providing easy access to California State Route 55, Interstate 405, Interstate 5 and the toll roads.
Mike Hunter, Senior Vice President of LAO-CA, exclusively represented the Seller in the sale of the site to Meritage Homes, the eighth-largest public homebuilder in the US.
“The project will transform a former industrial building into a condominium community,” said Mike Hunter. “There is an increasing buyer demand for new homes in this infill neighborhood with limited land available to develop and/or expand new residential projects. This project will help create supply to meet the overwhelming housing demand.”
“As California continues to experience a significant under-supply of housing, we see opportunities in the redevelopment of existing underutilized commercial real estate assets into attractive residential communities as the project on Gillette Avenue,” said David Kidder, President of LAO-CA. “The Land Advisors platform is equipped to help our clients solve challenges at each and every step of the way to ensure transactional success.”
About Land Advisors:
Land Advisors Organization is a nationwide advisory firm focused on the acquisition and disposition of land and land-related assets. With deep market expertise and a national network, Land Advisors combines a unique perspective on the market with the highest standards of performance to help clients identify and capitalize on valuable opportunities. The diversified LAO-CA platform includes Landmark Capital Advisors, disciplined in sourcing real estate debt and equity, and Market InSite specialized in consulting and research products for new homes and residential land.