REAL ESTATE

Recent and archived news stories on: Apartments, Architecture, Brokers, Construction, Housing, Mortgages, Offices, Property Management, Realtors...

Kelemen Goes Big With Atrium Buy

REAL ESTATE: $106M deal; creative-office perks plannedThe Atrium building in Irvine, one of the most unique office properties in the area around John Wayne Airport, has a new owner—and plans for a major renovation.

Angels Opt Out of Lease

The Los Angeles Angels of Anaheim today opted out of their lease at Angel Stadium, where they have played home games since 1966.

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NB Hotel Operator to Add Three

Twenty Four Seven Hotels in Newport Beach will run three inland area hotels for Cerritos-based Soquel Rincon TPS LLC.

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Sears Closing South Coast Plaza Location

Sears Holdings Corp. plans to shutter its location at Costa Mesa’s South Coast Plaza as part of its just-announced Chapter 11 bankruptcy filing.

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Chargers’ Spanos Dies

Los Angeles Chargers majority owner Alexander Gus Spanos died Tuesday morning. He was 95.

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Obit: Com RE Exec Lutton

Mike Lutton, a fixture in the local commercial real estate industry for 30 years, has died; he was 62.

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Foundation Sells Business Unit

Tustin-based Foundation Building Materials Inc. (NYSE: FBM), a distributor of building products, said Thursday it will sell its mechanical insulation business to Dunes Point Capital LP of Rye, N.Y., for $122.5 million.

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Willdan Gets $17M Schools Projects

Willdan Group Inc. (Nasdaq: WLDN) got $17 million in contracts with Colorado school districts.

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$400M Montage Project to Montana

Montage Hotels & Resorts will manage Montage Big Sky in Montana when it opens in 2021. The resort getaway project broke ground Friday in a partnership of Montage parent Montage International in Irvine and CrossHarbor Capital Partners LLC in Boston.

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Marwaha Family Buys 3rd SD Hotel

An affiliate of Anaheim-based Marwaha Group Inc. paid $22.7 million for Hampton Inn Carlsbad in North San Diego County; the deal closed Aug. 31.

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T2 Buys Second Denver Parking Lot

T2 Hospitality in Newport Beach bought a quarter-acre of downtown Denver land for $3.55 million, a block from a one-third-acre parcel for which it paid $10 million in 2015, a local news report said.

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Anaheim Ends Disney Deals

Anaheim City Council voted 7-0 Tuesday to end agreements with Disneyland Resort that would have given tax breaks in exchange for investment in the resort’s hotel and parks. Resort President Josh D’Amaro last week had asked the deals be terminated.

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Disney Letter Hits Development Debate

A letter from Disneyland Resort President Josh D’Amaro to Anaheim Mayor Tom Tait and the city council asking to end an agreement that would provide bed tax rebates from a planned luxury hotel shifts a debate in the city for several developers.

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Disney Suspends Hotel Project

Walt Disney Co. has stopped work on its fourth hotel near Disneyland Resort in Anaheim, the company said.

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NAMM, NAPEW Re-Up in Anaheim

Visit Anaheim said OC's two largest tradeshows by attendance—National Association of Music Merchants and Natural Products Expo West—have booked their slots at Anaheim Convention Center through 2023 and 2022, respectively.

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Montage Top-20 Global Brand

Irvine-based Montage International’s luxe resort unit, Montage Hotels & Resorts, is the 14th-best resort brand in the world, according to readers of Travel & Leisure magazine.

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