In the most interesting reuse of an industrial site in
recent decades, a real estate developer in California,
Shopoff Realty Investments, has purchased an oil tank farm. The “farm” is actually three large oil
storage tanks. According to the Orange County Register, the acquisition is a
28.6-acre parcel at Magnolia
Street and Banning Avenue. Magnolia Street leads right to the Pacific ocean. The price was $26.5 million. The purchaser
intends to turn the property into a resort with hotel, homes, shops and
restaurants.
Read the full story here: http://www.ocregister.com/articles/tank-726659-farm-huntington.html
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