Orange County Business Journal

REAL ESTATE

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

Momentum Continues in Mid-Counties Market

New businesses continued to migrate to the Mid-Counties industrial market at the border of Los Angeles and Orange counties in the first quarter as existing businesses expanded, resulting in 256,044 square feet of positive net absorption.

Newport Sports Museum Office Sells for Top Price

Museum Closed in 2014, Sells for Nearly $1,500/SF

An office near Fashion Island shopping center that previously held the Newport Sports Museum has sold for what looks to be one of the highest recent prices for an office deal in Orange County per square foot.

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Apex Parks Buys in NY

Apex Parks Group LLC in Aliso Viejo bought Martin’s Fantasy Island theme park in Grand Island, N.Y., on undisclosed terms.

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HCP Spinning Off Skilled Nursing, Assisted Living

Irvine-based HCP Inc. will spin off its HCR ManorCare skilled nursing and assisted living businesses into a separate, publicly traded real estate investment trust.

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Santa Ana Lender Names CFO

Santa Ana-based Stearns Lending LLC named Steve Smith chief financial officer.

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FivePoint Completes Restructuring

Aliso Viejo-based FivePoint Communities Inc. completed a reorganization that gives it ownership of four of California’s largest master-planned communities, including Irvine’s Great Park Neighborhoods.

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Anaheim Hotelier in 2nd SD Buy

An affiliate of Anaheim-based Marwaha Group Inc. bought the 94-room TownePlace Suites hotel in Vista from Carlsbad-based TMACK Melrose LLC for $15 million, according to CoStar Group and public data.

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PHG to Add 145 Rooms in Napa

Irvine-based Pacific Hospitality Group plans to break ground April 29 on a four-story, 145-room hotel across the street from its Meritage Resort & Spa in Napa, according to a local news report.

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MVE Names Founder's Son Principal

Irvine-based architectural design firm MVE & Partners promoted Matthew McLarand, formerly a senior associate partner, to principal.

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Busch Family Gives $15M

The Busch Family Foundation in Irvine gave $15 million to Catholic University of America, news reports said.

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Anaheim Advances $209M Hotel

Anaheim’s Planning Commission on Monday approved plans for a 580-room hotel at the corner of Harbor Boulevard and Disney Way, which sends the proposal to the city council to consider on May 17.

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Western State, CSUF Still Neighbors

Western State College of Law has moved from Fullerton to Irvine, leasing space at 1 Banting in Irvine, part of a two-building California State University-Fullerton Irvine campus in the Irvine Spectrum.

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Unemployment Unchanged

Orange County added 8,800 jobs in March to maintain a 4% unemployment rate.

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Appraiser Buys in Reno

Orange-based real estate appraisal company LRES acquired InsideValuation, a commercial and residential appraisal company in Reno, Nevada, on undisclosed terms.

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House of Blues to Add 100 Jobs

House of Blues Anaheim owner Live Nation Entertainment Inc. lists a May 31 closing date for the Downtown Disney venue in a filing with the California Employment Department.