Orange County Business Journal

REAL ESTATE

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

M&W Activity Slow Due to Lack of Supply, Rising Demand

The vacancy rate in Orange County’s manufacturing and warehouse sector steadily decreased throughout 2013, but the fourth quarter held steady at 2.8%.

Santa Ana Apartment Buys Add Up for Fowler Property

SF Investor on 6-Month Spending Spree in OC

San Francisco-based apartment investor Fowler Property Acquisitions LLC is approaching nearly $100 million in purchases in Santa Ana over the past six months.

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Buena Park Mall Partners with South Korea Entertainment Company

Officials at The Source retail and entertainment project currently under construction in Buena Park said they've struck a deal with a South Korea-based record label and talent agency that will bring recording studios and 2,000-seat concert venue.

Next for New Home Co.: 130 Acres in Corona

REAL ESTATE: Expected to pay $74M for land near 15 Freeway

The New Home Co. is closing in on the purchase of a nearly 130-acre, 1,200-home development site in Corona, one of several projects now in the works for the Aliso Viejo-based homebuilder following its recent initial public offering.

Brady, Vorwerck Shutdown Puts Lawyers on Move

LAW: Partner wanted religious practice; firm in lease litigation

Orange County’s legal scene has experienced one of its largest shake-ups in half a dozen years following the dissolution of Orange-based Brady, Vorwerck, Ryder and Caspino.

ADDENDUM - March 24

Irvine-based Motorcycle Industry Council hired Erik Pritchard as its general counsel. The appointment was effective immediately and fills a spot left open by the departure of Paul Vitrano, who recently joined snowmobile and ATV maker Polaris Industries as vice president for global government relations.

‘Neutral’ Luxury Market Creates Stability, Confidence

Sales Pace Has Slowed, Appreciation Now 5-6%

Surterre Properties Inc. cofounder and President Gary Legrand, entrenched in the luxury real estate market for more than 25 years, has seen it all, from the housing recession of the 1990s to the go-go housing boom of the early to mid-2000s, to the shocking drop in home prices during the Great Recession, to the rapid uptick in housing sales—and prices—during the last year.

Real Estate Deals

Orange County Industrial Plastics sold an industrial building to Berry Holdings LLC in Yorba Linda for $5 million.

North, Central OC Office Markets on Rebound

The North and Central Orange County office markets are on the road to recovery.

Ritz-Carlton Sale Talk Cools as Business Improves

Deal With Shareholder Comes Amid Stock Gains

A potential sale of the Ritz-Carlton, Laguna Niguel appears to be on the back burner after the owner of the Dana Point luxury resort reached a truce with a large shareholder that had been pushing for the company to consider shedding assets.

Marblehead Land Back on Block?

REAL ESTATE: Taylor Morrison said to have 2nd thoughts on $215M price

The land set to hold the high-end Marblehead coastal housing development in San Clemente looks to be back in play, now that the homebuilder initially tapped to buy the 195.5-acre site has apparently gotten cold feet over the price.

Walker Early to OC; Doti Direct; RMV’s Next Generation

Wisconsin Governor Scott Walker will get a dress rehearsal for any presidential ambitions he might harbor—at least the part where a candidate hits up OC’s vaunted base of GOP donors.

Hoag Adds Services in 50,000-SF Expansion in HB

HEALTHCARE: Addition to existing center to open in April

Hoag Memorial Hospital Presbyterian is doubling its presence in Huntington Beach, where it plans to provide “integrated care” through a mix of services.

$2.6B Edison Mission Asset Sale Approved

A bankruptcy judge in Chicago approved the sale of most of the assets of Santa Ana-based Edison Mission Energy, a unit of Edison International, the Rosemead-based parent of Southern California Edison.