Avison Young completes sale of 4.11 acres of land for 60-unit townhome development in Mission Viejo, CA

City Lane Townhomes
Avison Young completed the $9.936 million sale of 4.11 acres of land located in Mission Viejo, Calif. with plans to develop City Lane Townhomes.

Avison Young announced it has completed the $9.936 million sale of 4.11 acres of land (2.75 acres buildable) located at 28719 Los Alisos Boulevard in Mission Viejo, CA. The buyer, a prominent national builder with a presence in the market, plans to develop City Lane Townhomes, a fully entitled, 60-unit residential for-sale townhome project on the site.

Avison Young’s Peter Hauser, Alan Pekarcik, Matt Hauser and Chris Smith in the company’s Irvine, CA office, represented the seller, MF Mission Viejo, LLC, a family partnership on behalf of Ray and Nic DeAngelo.

“The property was marketed exclusively on behalf of the seller,” said Peter Hauser. “As testimony to the strong market demand for entitled residential land sites in south Orange County, Avison Young received more than 20 offers.”

City Lane Townhomes is planned to include two- and three-bedroom condominiums with a total of nine affordable units and will feature amenities such as a dining court with barbeque area, table and bar seating, and play area.