**Shopoff to Redevelop Amway Site for Residential Use**
Shopoff Realty Investments, in partnership with a national home builder, has acquired a 13.75-acre property in Buena Park with plans to re-entitle it for residential use. The property, currently occupied by Amway Corporation, is secured under a corporate sale-leaseback agreement.
The site includes two industrial buildings totaling approximately 370,031 square feet. The City of Buena Park has expressed support for the re-entitlement plan, which is expected to help streamline the approval process.
“Buena Park offers a tremendous opportunity for strategic redevelopment,” said William Shopoff, president and CEO 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.”
A total of $49 million in acquisition financing was secured with the support of JLL Capital Markets. The JLL debt advisory team representing Shopoff was led by senior director Jamie Kline and associate Kyle White.
