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ARTS: Sale, price of current location could be trimmed
Plans to relocate the Orange County Museum of Art to a new facility at the Segerstrom Center for the Arts in Costa Mesa are moving forward despite uncertainty over the fate of the museum’s current location in Newport Beach.
Bethesda, Md.-based DiamondRock Hospitality Co. bought the Shorebreak Hotel in Huntington Beach for $58.5 million, or nearly $373,000 per room.
$20M Gets You Varying Degrees of OC Posh
What will $20 million get you in Orange County? There’s a three-bedroom, two-bath, 1,774-square-foot home on a third of an acre in Emerald Bay in Laguna Beach that has a list price of nearly that.
There were 502,612 square feet of industrial space under construction at the end of the fourth quarter.
Fairfield Residential Plans Mix of For-Sale, Rentals
Los Angeles-based Kilroy Realty Corp. has completed the long-planned sale of a former industrial site on Von Karman Avenue in Irvine where a residential project is slated to go up.
Bethesda, Md.-based DiamondRock Hospitality Co. said it has bought the Shorebreak Hotel in Huntington Beach for $58.5 million.
REAL ESTATE: Top builders in area combine to top 4,000 mark in 2014
More than $3.5 billion was spent on new homes in Orange County last year as the area’s busiest builders reported the most sales here in a decade.
Irvine Ranch, Pavilion Park, RMV Counter Nat’l Trend
Sales at Orange County’s best-selling masterplanned residential developments showed no signs of slowing last year and are poised for more growth this year, despite a cooling trend across much of the country.
Less Risk, Fast Sales Appeal to Publicly Traded Firms
Orange County’s largest masterplanned developments are driving a bulk of the recent new-home sales in the region, but plenty of builders are also finding success buying land for residential projects off the beaten path.
REAL ESTATE: Four offices total 365,000 square feet
Menlo Equities LLC has added four more offices to its already sizable holdings in Foothill Ranch and Lake Forest, in a pair of acquisitions valued at more than $60 million.
REAL ESTATE: Gets low-rises in SoCal, 10-story Dallas office
Recent deals for three low-rise offices in Southern California capped off an active couple of months for Newport beach-based Buchanan Street Partners, which has also added a 10-story office in Dallas to its portfolio of recent investments.
Irvine-based food manufacturer and distributor Golden State Foods Corp. is planning to spend about $40 million to build a meat processing plant in Alabama.
The Mid-Counties industrial market saw a 47% increase in year-over-year gross absorption in the fourth quarter, or nearly 2.5 million square feet compared to roughly 1.7 million square feet.
Clarion, Pacific Industrial Buy Site From Greenlaw
Land in Brea that once held an RV storage facility is on the fast track to hold one of the city’s largest new industrial buildings.
Henry Segerstrom has died at age 91, after a short illness, according to C.J. Segerstrom & Sons, owner and manager of South Coast Plaza.