Private Investor Acquires Development Site In Garden Grove For $11 Million With CBRE's Representation

The property asset involved in this transaction is a development site located at 10422 Garden Grove Boulevard in Garden Grove, CA. The site spans 2.23 acres and is mixed-use zoned, with a sale price of $11,000,000. The square footage of the site is 9,773, priced at $1,126 per square foot.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $11,000,000
• Address: 10422 Garden Grove Boulevard
• Market: Garden Grove, CA
• Asset Size: 2.23 acres
• Square Footage: 9,773
• Price per Square Foot: $1,126
• Seller: W. Henry Walker - Farmers & Merchants Bank
• Brokers: Cameran Lindee & Greg Sullivan - CBRE

A private investor completed the acquisition of the former Farmers & Merchants Bank branch, with CBRE representing the seller in this transaction. The deal is indicative of heightened interest from investors in infill residential development sites throughout Orange County, driven by a strong demand for housing amidst low vacancy rates and tight land supply.