Irvine-based healthcare real estate investment trust HCP Inc. reported funds from operations—FFO, the REIT equivalent of earnings—of $0.35 per share, down from $0.51 per share in the first quarter and $0.71 per share a year ago.
A 3.5-acre Newport Beach property overlooking the harbor sold for an Orange County record of $55 million.
Aliso Viejo-based Sunstone Hotel Investors Inc. has paid $175 million for a newly-built resort property in Key West, Fla.
SendGrid announced today that it’s signed a lease for a new office space in Orange County.
The number of hotels and rooms under construction in Orange County as of the end of June declined year-over-year but the number of hotels and rooms in development—which includes hotels in planning—is up.
Dan Ivascyn, chief investment officer of Newport Beach-based Pacific Investment Management Co., told Barron’s that bond yields could stay low for a long time.
Golden State Management Corp. in Lake Forest plans 25 to 30 locations of Modern Acupuncture in OC over the next three years, part of a commitment of 65 sites that includes San Diego County and the Inland Empire.
The Irvine Company reached agreement with Real Office Centers on one of the properties about which it had filed an eviction-based lawsuit against ROC, an Irvine Co. spokesman told the Business Journal.
Royalty Carpet Mills Inc., a longtime area carpet manufacturer based in Irvine, has closed, as have several affiliated companies.
An affiliate of Irvine-based HCP Inc. bought the two-building Scripps Wateridge Corporate Center office campus in Sorrento Mesa, a neighborhood in northwestern San Diego County, for $26.1 million, according to CoStar Group and public data.
The Irvine Co. reached an agreement with Newport Beach-based Real Office Centers on one of the properties it had filed an eviction-based lawsuit against the company over, an Irvine Co. spokesman told the Business Journal.
Michigan-based Kellogg Co. is shuttering its distribution center in La Palma and cutting 280 jobs there, according to a Worker Adjustment and Retraining Notification the cereal and snack giant filed with the state Employment Development Department.
Pacific Hospitality Group in Irvine said president and Chief Operating Officer Steve Arnold resigned; it named Robb Walker to replace him as chief operating officer. Founder and Chief Executive Tim Busch will add the president’s role.