Shopoff Acquires 13.75-Acre Property for Future SoCal Residential Development
Shopoff Realty Investments – a national manager of opportunistic real estate investments and a sponsor of private placement offerings – announced that in partnership with a national home builder, it has acquired a 13.75-acre property in Buena Park, Calif., that it plans to re-entitle for residential use. The property is currently occupied by Amway Corporation with a corporate sale-leaseback in place.
The project is located in Orange County, with direct access to Beach Boulevard, a major thoroughfare. It’s adjacent to the Metrolink line and less than a mile from both the Interstate 5 and State Route 91 freeways. The property is currently developed with two industrial buildings totaling approximately 370,031 square feet of space.
According to Shopoff Realty Investments, the city is supportive of its plans to re-entitle the site for residential use, which is anticipated to streamline the approval process.
“Buena Park offers a tremendous opportunity for strategic redevelopment,” said William Shopoff, president and chief executive officer of Shopoff Realty Investments. “This acquisition allows us to capitalize on a prime Orange County location with significant accessibility and strong demand for new housing options. We’re excited to be moving forward with the entitlement process for the proposed residential community.”
A total of $49 million in acquisition financing for the project was secured with support from JLL Capital Markets.
In February 2025, Shopoff Realty Investments received a $60.9 million senior mortgage for refinancing existing debt and providing additional funds for the future development activity on Magnolia Coast, formally known as “Magnolia Tank Farm,” in Huntington Beach, Calif., roughly 16 miles south of the Buena Park property.
Shopoff Realty Investments is an Irvine, Calif.-based real estate firm with a 33-year history of generating appreciation through development projects, the repositioning of commercial income-producing properties, and the entitlement of land assets.
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