KB Home Buys Office Property in North Anaheim for $16M

KB Home has paid $16 million for a 4-acre office property in north Anaheim with plans to raze it and build 83 townhomes.

The Westwood-based developer bought the 53,700-square-foot office property at 2420 and 2450 East Lincoln Avenue, the Orange County Business Journal reported. The seller was Albert & Sons Real Estate I, based in Fontana.

The price works out to $298 per square foot, or $4 million per acre. The seller was represented by broker Allison Rawlins Tift of Land Advisors Organization.

The project, dubbed The Sunkist Townhomes, will include 83 three-story homes with a 25,000-square-foot “recreation area,” plus a 15,600-square-foot outdoor area with a tot lot, barbeques, seats, dog park and a community garden.

The homes would be built two miles from Downtown and the Anaheim Packing House, a food court redeveloped from the Sunkist citrus-packing plant built in 1919.

Much of Anaheim has been revitalized over the past decade, turning the historically industrial area into a mixed-use hub.

The Platinum Triangle has drawn much of that investment, with plans by the owners of the Anaheim Ducks to redevelop the Honda Center at 2695 East Katella Avenue into a $4 billion, 95-acre urban retail village known as OCVibe.

The project is the first for KB Home in OC since its 117-home Lacy Crossing development in Santa Ana, a mile from the Santa Ana Zoo, where prices start at $930,000. It bought the site in 2020 for $26.5 million.

KB also is selling homes in Buena Park at a gated townhome complex called Magnolia Square, with prices starting in the high $800,000s; and at its Lighthouse project in Stanton, a single-family development of 40 homes. Both of those North OC projects opened in 2021.

In November, KB Home planned to build the state’s first all-electric, solar- and battery-powered “microgrid community” of single-family homes, to be located in the Inland Empire city of Menifee, 15 miles north of Temecula.

— Dana Bartholomew