Orange County Business Journal

Another Sign of Office Strength: Equity Gets Arden’s OC Portfolio

REAL ESTATE: Blackstone unit to be second biggest landlord here

A division of New York-based Blackstone Group is returning to its position as Orange County’s second largest landlord just as the local market for office space looks to be switching into overdrive.

William Lyon Homes Names Co-CEO

William Lyon Homes promoted Matthew Zaist to the role of co-chief executive officer.

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William Lyon Homes Promotes Zaist to Co-CEO

William Lyon Homes said it has promoted Matthew Zaist to the role of co-chief executive officer.

Gateway Deal Reflects Central OC Rebound

REAL ESTATE: Lincoln Property expected to pay $68 million

Lincoln Property Co. is buying a large office next to Angel Stadium of Anaheim in the latest sign of an improving office market in Central Orange County.

OC Hotel Market Stays Hot With $126.2M Deal

REAL ESTATE: Local sales add up to $730M so far this year

The 485-room Irvine Marriott Hotel at the Irvine Towers office complex near John Wayne Airport has been sold to a Los Angeles-based institutional investor.

Burnham Adds Office Near JWA to Local Portfolio

REAL ESTATE: Data indicate relative bargain at $264 per SF

Newport Beach-based Burnham-Ward Properties has expanded its hometown office holdings with a property not too far from John Wayne Airport.

Olen’s Rental Push Takes Flight in Phoenix Suburbs

Growth in Mesa, Gilbert Likened to Prior OC Era

Olen Properties’ recent push into Phoenix’ apartment market has now topped the $100 million mark, and the Newport Beach-based developer plans more deals in some of the city’s fastest-growing suburbs.

Boardwalk’s Big Leap

Trammell Crow Spec Office Project Set to Add 545,000 SF to Airport Area

Trammell Crow Co. has taken the wraps off the first large, speculative office project expected to break ground in the office market around John Wayne Airport in over seven years.

Aliso Viejo Office Sale Estimated Over $100M

REAL ESTATE: Two buildings at Summit combine for 295,000 SF

Two buildings in Aliso Viejo that hold the local operations of homebuilder Lennar Corp. and other tenants has traded hands in what looks to be the priciest office sale in South Orange County so far this year.

Vans Has Expansion Plans on Tap for Costa Mesa HQ

City Officials Say 40K SF Planned for New Campus

Comments by Costa Mesa city officials suggest that skate shoe and apparel company Vans Corp. is looking to build a sizeable expansion to the company’s planned new headquarters in the city.

Trend Builds as Great Park Project Eyes Own Food Hall

REAL ESTATE: Old warehouse would hold one of a few planned

Add Great Park Neighborhoods in Irvine to the growing list of areas across Orange County looking to add a hip food hall to their developments instead of a more traditional retail center.

R.D. Olson’s Development Arm to Newport Beach

Relocation from Irvine to 520 Newport Center Tower

Hotel developer R.D. Olson Development is moving its offices to Newport Beach and closer to one of its biggest projects on tap.

Medical Device Maker Adds to RSM Presence In Deal Pegged at $37M

REAL ESTATE: Cox affiliate sells building, 24.5 acres near toll road

Rancho Santa Margarita-based medical device maker Applied Medical Resources Corp. has bought the largest office building in its hometown for its growing operations.

CT Realty, Xebec Start Work at Dallas Mega-Center

530-Acre Industrial Site, 3.8M SF Eyed for 1st Phase

A venture headed by Aliso Viejo-based CT Realty and Seal Beach-based Xebec Realty Partners has kicked off construction of one of the largest industrial developments currently on the books in the U.S. at a site they own in Texas.

Quintana Sale Sets New Benchmark in Airport Area

REAL ESTATE: More deals likely as high end of office market heats up

A five-story office on the former Washington Mutual Inc. campus in Irvine has traded hands for nearly three times its value of five years ago.

Olson Takes It Up a Notch in Spectrum

Full-Service Marriott Cost to Top $100M, Get $300+ a Night

R.D. Olson Development is going upscale—and tall—with its latest hotel project in the Irvine Spectrum.

Broadcom Buyer to Sell Emulex HQ

REAL ESTATE: Shift to Irvine from Costa Mesa looks to be Avago’s plan

The new owner of Emulex Corp. has put the networking equipment maker’s Costa Mesa headquarters campus up for sale, paving the way for local operations to be eventually relocated to Irvine, where it has a $37 billion acquisition of Broadcom Corp. pending.

Michelson to Anchor REIT on Singapore Exchange

REAL ESTATE: Trophy office value estimated at $310M

The Michelson office tower in Irvine, which traded hands three years ago in what’s believed to be the priciest single-building office sale ever in Orange County, is about to get a lot more interest from Asian investors.

Dana Point Land Sells, Slated for Townhomes

REAL ESTATE: Zephyr plans 168 units for land along PCH

Zephyr Partners, an Encinitas-based real estate development and investment company, has picked up a 9-acre site in Dana Point where it’s planning its first big residential project in Orange County.

Goodman Birtcher Inks Paper Company for IE Lease

Georgia-Pacific Takes 1.6M-SF Logistics Center

Irvine-based developer Goodman Birtcher has signed one of the largest industrial leases in Southern California in years for a logistics center it’s building in Rancho Cucamonga.

Standard Pacific Could Skip Irvine, Rest of Golden State on HQ

REAL ESTATE: Combo with Ryland would create 4th largest homebuilder

Standard Pacific Corp.’s long run as the largest homebuilder based in Orange County could come to an end once the company’s pending acquisition of Ryland Group Inc. is complete.

Ingram Micro HQ Complex Changes Hands

REAL ESTATE: Likely fetches $40M-plus from local buyer

The Santa Ana office complex that holds the soon-to-be former headquarters of Ingram Micro Inc. has traded hands.

Great Far East Adds in Airport Area on Colton Plaza Buy

REAL ESTATE: Two offices not part of talks on teardowns for apartments

Great Far East Inc.—a local commercial real estate investor with funding from China—has bought a portion of the Colton Plaza office campus that is next to John Wayne Airport.

Fringe to Frontline: Deals Add Up Near Tustin Legacy

Developers Eye Sites Next to Former Air Station

This month’s opening of the 375-home Greenwood project near Jamboree Road and the District at Tustin Legacy shopping center marks another notable chapter in the redevelopment of the nearly 1,500-acre former military site.

Smaller Projects Help Construction Firms Post Growth

Jobs, Backlogs Up Despite Few Mega Local Deals

Orange County’s largest commercial construction companies had solid growth in revenue, jobs, and work backlogs last year, despite a relatively small number of mega projects to call their own.

OC Developers Double Down on Openings, Backlog

2 Million Square Feet Finished, Most Here Since 2008

Orange County’s top commercial developers nearly doubled the number of completed projects in the region in the past year while pushing their backlog of active projects to a level not reached since the last real estate boom.

Packing House Adds to PRES Portfolio in North OC

Yorba Linda Purchase Estimated at $32 Million

Irvine-based real estate investor PRES Cos. has made another large acquisition in North Orange County.

CT Realty Buys Palm Terrace Offices in Lake Forest

3-Building Campus Holds Del Taco Headquarters

A three-building office complex in Lake Forest that holds the headquarters of Del Taco Holdings Inc. has been sold to a local investment group.

Irvine Co. Expands on Wellness Center Concept in NB

REAL ESTATE: Plans medical office, fitness center

The Irvine Company plans to build a fitness, wellness and healthcare facility in space it owns at the current site of a 24 Hour Fitness gym next to Fashion Island.

Vans to Put Brand on South Coast Metro

REAL ESTATE: 180,000-SF office comes with 15 extra acres

An affiliate of apparel company Vans Inc. is under contract to buy the 1588 South Coast Drive office building in Costa Mesa.

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New Home Co. Cofounder Davis Stepping Down

Joe Davis, chief investment officer and cofounder of The New Home Co., is stepping down from the Aliso Viejo-based homebuilder.

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MicroVention Building New HQ in Aliso Viejo

MicroVention Inc., a Tustin-based developer, manufacturer and marketer of neuroendovascular technologies, said it will be building a large new office in Aliso Viejo for its new headquarters.

Taylor Morrison Buys Pacifica San Juan Site

REAL ESTATE: 194 acres could hold small, estate lots

A venture that includes Scottsdale, Ariz.-based Taylor Morrison Home Corp. has bought the stalled Pacifica San Juan home development in San Juan Capistrano.

Olen Adds 2 Arizona Complexes to Rental Portfolio

Buys One Mesa Complex, Another Deal on the Way

Olen Properties Corp. is making a $78 million investment in Arizona’s multifamily market.

No Tenants, No Problem as Quintana Draws Buyer

REAL ESTATE: Scarce area office campus with empty space

One of the few large office campuses near John Wayne Airport with a significant amount of vacancy is up for sale and expected to draw plenty of interest from investors looking to take advantage of Orange County’s improving office market.

Office Sale Gives Offshore Trend Korean Flavor

REAL ESTATE: New owners add to ethnic enclave here

One of the larger multitenant office complexes in Buena Park has traded hands in the latest notable Orange County commercial real estate deal involving investors from Asia.

Fairhaven Memorial in Santa Ana to Dallas Buyer

REAL ESTATE: Deal includes 2 other funeral homes in area

Fairhaven Memorial Park and Mortuary in Santa Ana—one of Orange County’s largest and oldest cemeteries—has been sold to one of the country’s biggest providers of funeral services.

Fairhaven Memorial in Santa Ana to Dallas Buyer

REAL ESTATE: Deal includes 2 other funeral homes in area

Fairhaven Memorial Park and Mortuary in Santa Ana—one of Orange County’s largest and oldest cemeteries—has been sold to one of the country’s biggest providers of funeral services.

Taylor Morrison Buys Pacifica San Juan Site

REAL ESTATE: 194 acres could hold small, estate lots

A venture that includes Scottsdale, Ariz.-based Taylor Morrison Home Corp. has bought the stalled Pacifica San Juan home development in San Juan Capistrano.

Olen Adds 2 Arizona Complexes to Rental Portfolio

Buys One Mesa Complex, Another Deal on the Way

Olen Properties Corp. is making a $78 million investment in Arizona’s multifamily market.

Office Sale Gives Offshore Trend Korean Flavor

REAL ESTATE: New owners add to ethnic enclave here

One of the larger multitenant office complexes in Buena Park has traded hands in the latest notable Orange County commercial real estate deal involving investors from Asia.

Deal Ups Platinum Triangle Rental Value

REAL ESTATE: $269M for Katella sites would set mark for sales in area

Highlands Ranch, Colo.-based apartment developer and investor UDR Inc. has entered into a deal in which it could spend $269 million to take over ownership of two rental complexes under construction in the Platinum Triangle.

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Taylor Morrison Buys Pacifica San Juan Site in SJC

A venture that includes Scottsdale, Ariz.-based Taylor Morrison Home Corp. has bought the stalled Pacifica San Juan home development in San Juan Capistrano.

Shea Properties, KBS Plan $76.7M Deal in Denver

First Office Built at Shea’s Village Center Station

Aliso Viejo-based commercial developer Shea Properties Inc. is under contract to sell part of a big office project in Colorado to another locally based investor, KBS Realty Advisors.

Device Maker Weighs In on Change in IBC

‘Concessions’ to B. Braun as For-Sale Residential Returns

One of the first developments in the Irvine Business Complex to propose for-sale residential development in nearly a decade is proceeding after getting some pushback from a medical device maker whose local manufacturing operations are next to the project.

New Home Co. Nears $250M Land Buy

Deal in Works With Irvine Co. Includes 2 Sites in Crystal Cove

The New Home Co. is looking to double down on Orange County’s luxury home market with its latest batch of land deals.

Office Campus Eyed at Jamboree & Dupont

Trammell Crow Could Build 550,000 SF on 7.5 Acres

Trammell Crow Co. is eyeing a vacant land site it just bought near John Wayne Airport for a major office campus.

Retail Developer Buys Into Maui Resort Market

REAL ESTATE: Burnham adds upscale center to OC holdings

Burnham USA Equities Inc. is the latest local developer to tap the tony Hawaiian resort community of Wailea for a major investment.

Spec Office Developers Take Varied Approaches

Low-Rise, Creative Re-Use Planned Alongside Towers

Orange County developers are taking varied approaches to speculative office developments in the improving local economy, including a cautious approach on ground-up projects.

Fisker Launches Customer Support Site

Costa Mesa-based Fisker Automotive and Technologies Group LLC launched a new customer support website for owners of its Karma luxury sports cars.

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