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11/04/19
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A 65k sf, senior housing redevelopment site in the city of Orange sold for $5.5 mil, or $84.62 per square foot. The property is located at 1249 E Katella Ave, just west of the 55 Fwy.
The site included a two-story multi-tenant office building built in 1974. The property has excellent street visibility on Katella Ave, in a high-traffic, densely populated area of North Orange County. The building was 100% vacant at the time of the sale and will be completely redeveloped into a 74-unit senior housing facility.
Steve Heri and Steve Gim with NAI Capital's Irvine Office represented the buyer, OSH, and the seller, Universal Bank, in the transaction.
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