The County parcel is a 100 acre parcel located between the planned Orange County Great Park to the north and the Los Angeles-San Diego corridor railroad tracks to the south. The County objectives were: entitle properties for the highest and best use, improve El Toro property for development, limit/minimize County risk, and create long- term revenue flow.
KMA advised Orange County on the Disposition and Development Agreement, including the ground lease documentation, with Lowe Enterprises Real Estate Group (Lowe). The agreement provides for the entitlement of County owned property, installation of horizontal infrastructure improvements, and the vertical development and leasing of the County’s owned land of approximately 100 acres at El Toro.
This strategically phased agreement is a cost-effective way to ensure the County creates long-term value and revenue from the properties while minimizing financial risk to the County. The agreement was approved by the Board of Supervisors in 2014.