Updated Sep 11, 2026
Watermarke Properties Acquires Development Site In Orange For $22.5M
625 The City Dr SOrange, CA 92868, USA
$22,500,000
$152/SF
Building Size
148,054 SF
Asset Type
Development Site
Closing
Apr 25, 2023
About this deal
AI
Watermarke Properties has acquired a development site in Orange, located at 625 The City Drive South, for a total sale price of $22,500,000. The property spans a total of 148,054 square feet and has a price per square foot of $152. The seller of the property was TA Realty. The transaction was facilitated by Newmark, with Kevin Shannon, Paul Jones, Ken White, Chris Benton, Anthony Muhlstein, and Brandon White representing both the buyer and the seller.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $22,500,000
- Address: 625 The City Drive South, Orange
- Market: Orange
The acquisition of the development site by Watermarke Properties was facilitated by Kevin Shannon, Paul Jones, Ken White, Chris Benton, Anthony Muhlstein, and Brandon White of Newmark. This deal signifies the investment potential in the Orange market, highlighting the growing interest in development opportunities in the area.
On the Map
$22,500,000
$152/SF
Development Site
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.71%
Cash-on-Cash
-0.20%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93