ORANGE, CA-Master Development Corp. of Newport Beach has acquired the 11-building Stadium Collection office project at 2019-2211 W. Orangewood Ave. and plans to market the buildings for sale after renovating them.Master Development paid $11.7 million for the 68,803-sf project, which it acquired from Park Orangewood of Los Angeles, which had owned the property for about three years. The transaction was brokered by Voit Commercial Brokerage, with Joe Miller of Voit’s Anaheim Metro office representing the buyer, and with the seller represented by Louis Tomaselli and Mitch Zehner, also of Voit’s Anaheim Metro office. Zehner, Miller and Tomaselli also are the listing agents for the buildings and are marketing them for Master Development. Miller says Master Development is renovating the exterior of the buildings and will sell each of the small, freestanding structures separately. The buildings vary in size from 4,500 sf to 7,400 sf. The project site is adjacent to the 57 freeway, at one of the main access points for Angel Stadium. Each one-story building is divisible, Miller notes, allowing the buyers the option of occupying half a building and leasing out the remaining space.Zehner tells GlobeSt.com that most of the buildings, which were constructed in the 1980s, were occupied at the time of the sale, except for a few spaces that were available. The existing tenants in the buildings have the first right of refusal to buy them. He says the buildings, which are all of single-story, concrete tilt-up construction, offer an unusually good location, with freeway visibility and excellent access in a garden office setting.

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