Newmark recently facilitated the sale of a prime one-acre redevelopment site located at 1810 Pacific Coast Hwy in Huntington Beach. The property was sold for $10,250,000 and attracted significant interest from buyers due to its desirable location.
The Newmark team, led by co-head of U.S. capital markets Kevin Shannon and vice chairman Paul Jones along with senior managing directors Chris Benton and Brandon White, managing director Anthony Muhlstein and senior financial analyst Gabe Munson represented the seller California Resources Corporation. The buyer was WJK Development.
WJK has plans to develop boutique luxury homes on this highly coveted site which is conveniently situated just a mile away from downtown Huntington Beach. Its close proximity to various amenities such as boutique shopping outlets, restaurants, dining options and hotels make it an ideal location for residential development.
According to White,”With limited availability of new oceanfront luxury homes in Huntington Beach that meet high standards of quality construction,the demand for this project is expected be very strong.” He further added,”We are grateful for the opportunity to work on such an exceptional property.”
This exciting news highlights yet another promising residential development project coming up in beautiful Huntington Beach.
