Project Overview:

The parcel of land had been used as an oil and gas distribution site by both its previous owners, Tosco and Unocal. In order to develop this site, remediation of all contaminated soil was required as well as the removing of antiquated pipelines and desolate oil tanks.

Voit Real Estate Services was selected by Unocal to sell a 30 Acre tank farm. Voit immediately scheduled a “Team” meeting with the Seller and all City Departments to ensure that the future development would meet the City’s redevelopment goals The project went out to bid to all potential buyers resulting in several offers from known developers. Once the buyer was selected, the Buyer immediately began a partnership with the Seller and City.

Voit Development brought together a skilled project team with its long-term partners Ware Malcomb, Valley Commercial Contractors, DRC and Voit Commercial Brokerage. The team, who had worked together on past projects, was able to expedite due diligence, move the development process along quickly and efficiently, and combat potential entitlement and construction challenges that could delay the project. Voit also needed to build two roads around the site to offer better access to the future buildings, as the site in its current state had limited access from major city streets.

Challenge:

Convert a former oil tank farm to an industrial business park, entitlement, zoning, environmental, parcelization, “negative image“ with prior use

Result:

Unocal closed sale as scheduled.

City of Brea – New 18-building, 550,000 Sq.Ft. addition to industrial base.

Voit Development – 100% successful project