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REAL ESTATE: Shift suggests spec development on horizon
Advantage landlords. That’s the picture that emerges from the most recent data on Orange County’s roughly 100-million-square-foot office market, which wrapped up the first quarter in its strongest position since the onset of the Great Recession.
REAL ESTATE: 3rd speculative project would be 216,000 SF
Newport Beach-based Western Realco has bought nearly 10 acres of land in Brea, where the developer is planning its third big speculative industrial project in the city since 2012.
REAL ESTATE: $9.6M estimate for 55,474-SF low-rise
Irvine-based CapRock Partners LLC has snapped up an office just off the Costa Mesa (55) Freeway for its latest local creative-office project.
Proposal for Luxury Condo Tower to Costa Mesa Planners
The owners of the Avenue of the Arts Wyndham Hotel are moving ahead on plans to build the first high-rise condominium tower in Costa Mesa’s arts district.
REAL ESTATE: Land buy, redesign for Birch Street project
A long-planned medical office development in the Santa Ana Heights area of Newport Beach is moving ahead following a recent sale of the nearly 4½-acre site and a redesign of the proposed project.
San Clemente-based CareTrust REIT Inc. bought a nursing home in Washington state for $9.1 million.
Prudential Real Estate Investors said it acquired a 75% stake in the Bella Terra Shopping Center in Huntington Beach.
See Potential for Big Returns in Luxe Approach
Investors and developers are putting their time and resources into building luxury spec homes along the Southern California coast, from The Strand in Dana Point to the Balboa Peninsula and beyond.
Adds 18 Properties Spread Over 11 States
Irvine-based real estate investor Griffin-American Healthcare REIT had a busy first quarter, with $353.7 million worth of acquisitions encompassing 18 healthcare properties in 11 states.
Low-rise office buildings might not get the same amount of attention in the news as the high-rise buildings in Orange County, though they’re a significant part of the office market, accounting for more than half—nearly 55.2 million square feet—of the county’s office space. One can’t ignore the level of recent activity in the low-rise market.
Report of Nashville Deal Follows Buy in Aliso Viejo
Irvine-based LBA Realty is poised for a big investment in Nashville, Tenn., according to reports there.
Quick Bridge Funding LLC, an alternative lender specializing in short-term financing, has moved its headquarters from Orange to Irvine, taking 17,000 square feet at Market Place Center.
The convicted bank robber who stole the identity—and a $1.4 million tax refund—of Irvine Company Chairman Donald Bren was sentenced to time served, restitution and supervised release, according to court records.
Prudential Real Estate Investors said it has acquired a 75% stake in Huntington Beach's Bella Terra Shopping Center.