The Olson Company has purchased a 1.9-acre parking lot in Yorba Linda from Messiah Lutheran Church for $8.2 million, with plans to build a 40-townhome project.
Michelle Jefcoat and Dan Blackwell from CBRE represented both the seller and the buyer in this deal.
CoStar records show that the Seal Beach-based company, under Olson Urban Vi-Yorba Linda 2 LLC, paid about $4.3 million an acre for the land and took out a $35 million construction loan from Wells Fargo to develop the residential project at 4861 Liverpool Street.
CBRE officials said the property received six offers while on the market.
“This sale reflects the strong demand for well‑located residential development opportunities in North Orange County,” Jefcoat said. “Yorba Linda has limited available land, high barriers to entry and a deep pool of qualified buyers seeking new housing options.”
