The property involved in this transaction is a development site located at 1001 South Harbor Boulevard in Fullerton. This site spans approximately 4.77 acres and is approved for a multifamily development comprising 329 permit-ready apartments and 6,500 square feet of retail space. The transaction was concluded at a sale price of $21,000,000.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $21,000,000
• Address: 1001 South Harbor Boulevard
• Market: Fullerton
• Buyer: Jessica Cassolato - The Dinerstein Companies
• Seller: Michael Bar - BIG Shopping Centers
• Buyer's Representative: Sal Provenza & Curt Crandall - WD Land

WD Land noted that the buyer, Dinerstein Companies, secured their construction loan prior to closing and has commenced construction on the five-story building, which integrates a 657-space parking structure. The design of the project draws inspiration from Fullerton’s historic buildings and features three courtyards, a pool, a fitness center, and ground-floor retail that includes notable merchants like Amazon Fresh and AMC Theatres.