Orange County Business Journal

REAL ESTATE

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

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.

Mitsubishi Electric to Consolidate in HB

Mitsubishi Electric Automotive America Inc. plans to consolidate its regional operations in Huntington Beach.

ADDENDUM

Min Kun Kim, who most recently served as chief executive coordinator at Kia Motors America Inc.’s headquarters in Irvine, was promoted to president and chief executive of Kia Canada Inc.

PHILANTHROPY

“Mentorship is one of the single most important gifts you can give to youth, especially those facing adversity,” says Melissa Beck, chief executive of Big Brothers Big Sisters of Orange County.

Greater Airport Area Office Market Dips, Lease Rates Up Slightly

Absorption in the Greater Airport Area office market in the fourth quarter was negative 42,007 square feet compared to positive 83,307 square feet in the third quarter.

Irvine Co. Nears Blockbuster Lease in Santa Clara

Ericsson Eyes 440,000 SF in Silicon Valley Project

Newport Beach-based Irvine Company is making more waves in the Silicon Valley office market, with a blockbuster lease for a development reportedly in the works.

Nonlocal Investors Drive Top Real Estate Sales in 2013

Distressed Deals Down, Development on Comeback

Nonlocal investors produced the bulk of activity last year in Orange County’s commercial real estate market, the first year since the onset of the recession that distressed deals didn’t make up a large portion of sales activity.

Title Insurers Turn to Buys As Refinancings Dry Up

Interest Rate Hikes Bring 13% Decline in Business

Business for Orange County’s largest title insurers took a step back in 2013 as rising interest rates brought about a steep drop in refinance work during the second half of the year.