CBRE has brokered the purchase of four parcels totaling just over 4 acres in Huntington Beach, CA. The property, sold to a joint venture between North America Sekisui House and multifamily developer Holland Partner Group, is located in an approved Affordable Housing Overlay, which allows development, by right, with a 20% affordable component.

“Since the property is designated as a site to meet Regional Housing Need Allocation goals, it benefits from a potential ‘by right’ review process and can possibly qualify for density bonus and other development incentives,” said Stewart Weston, an executive vice president at CBRE. Weston brokered the deal, along with teammates Dean Zander and Greg Sullivan. Dolphin Partners was the seller in the transaction.

The property is located at 18700 Delaware, just east of Main Street in Huntington Beach. It presents a rare, coastal OC development opportunity, and is convenient to I-405 and several popular Huntington Beach amenities.