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11/07/25
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MLC Land Holdings Inc acquired a 70.8k sf office building in Costa Mesa for $44.5 mil. The building, located at 3150 Bear St, sits on over six acres of land and was purchased as a residential redevelopment opportunity.
The site fronts the 405 freeway and is situated directly across from South Coast Plaza, at the center of Orange County's arts and entertainment mecca.
MLC Land Holdings has already gained entitlements for up to 142 homes. The new residences will include: 20 detached two-story single-family homes and 122 four-story stacked flats.
CBRE National Office Partners’ Anthony DeLorenzo, along with Greg Sullivan, Sammy Cemo and Bryan Johnson, represented the seller, Manny Khoshbin with the Khoshbin Company, in the transaction.
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