WESTMINSTER, CA-Westminster's Redevelopment Agency has bought an auto dealership building measuring 37,000 square feet for $18 million, which translates into $486.5 per square foot. The agency has leased the building to an Infiniti dealership. According to city officials, the dealership would generate $300,000 in sales tax per year for Westminster.
Ronald Beard and Mark Pressey of Southland Equities negotiated the deal on behalf of the seller, NW Investment Co.For the full story, go to Orange County Business Journal.
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