Orange County Business Journal

Social Services Lease Would Top Year’s List

REAL ESTATE: OC’s biggest public agency in talks to move to Orange

The Orange County Social Services Agency is expected to move its headquarters from Santa Ana to Orange in what would be OC’s largest new office lease of the year.

Healthcare REIT Sale Winner for Griffin-American

Former Grubb Offering To Be Sold for $4 Billion

Griffin-American Healthcare REIT II in Irvine, an owner of healthcare-related real estate properties that has ties to Grubb & Ellis Co., appears to be one of the few winners emerging from the brokerage company’s short-lived stint as an Orange County-based company.

Irvine Co. Land Gift Comes With Homebuilding Plans

REAL ESTATE: Still plans up to 1K homes in East Orange

The Irvine Company hasn’t abandoned its homebuilding plans on the northern edge of the Irvine Ranch, despite its intentions to donate a large chunk of land there to the county.

Sales Hot for Most Expensive Orchard Hills Homes

23 Have Sold for $50M+ In Just Two Months

Orchard Hills’ priciest homes have had strong sales since the Irvine development opened a little more than two months ago.

Next Big Thing in IBC: Self-Storage

3-Story Facility Planned Amid Apartment Complexes

A massive self-storage facility is being proposed for land near the Diamond Jamboree shopping center in Irvine in what would be among the largest nonapartment developments in the Irvine Business Complex over the past decade.

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Sources Say Harrah Bids $27 Million for Register Building

REAL ESTATE: Lease-back an option for newspaper’s operations

Santa Ana developer Mike Harrah is closing in on a deal to buy the headquarters of the Orange County Register, according to sources.

Long-Planned CdM Luxury Condo Project Starts Soon

Oceanfront Site Could Command Prices of $11M+

Construction on Aerie, an ultra-luxury condominium development in Corona del Mar more than 10 years in the making, is about to start.

Investor Gets 4 Brea Offices in North OC Buy Streak

REAL ESTATE: $42M deal adds to $23M in recent buys

Irvine-based real estate investor PRES Cos. has made its second large acquisition in North Orange County this year—a four-building office portfolio in Brea.

KBS Fills Big Niche With Sales to Pimco, Irvine Company

REAL ESTATE: Towers in Houston, Chicago bring $216M in profits

Companies headed by OC’s wealthiest residents are proving to be a profitable source of business for Newport Beach-based KBS Realty Advisors.

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Whole Foods Coming to Irvine Spectrum

Grocery chain Whole Foods Market will anchor a new shopping center in the Irvine Spectrum next to the Los Olivos apartment complex.

Another Business Hotel in Works for Irvine

REAL ESTATE: About 800 rooms under construction or planned in city

A two-building office site in Irvine that’s about a block from John Wayne Airport is being eyed for a hotel development.

Student Housing, Hotel for Orange Coast Campus?

REAL ESTATE: Bond money backs community college plans

Student housing, new classrooms, a parking structure, and a boutique hotel are among the more than 1.3 million square feet of new buildings and facilities being considered for the campus of Orange Coast College in Costa Mesa.

What’s on Broadcom’s Drawing Board?

Great Park Campus Could Fit Thousands More Workers

The Great Park office campus designed to hold the new headquarters of Broadcom Corp. suggests that the chipmaker—currently in the midst of cutbacks—could be preparing to add several thousand jobs in Orange County over about the next five years.

Lease at City Plaza Backfills Old Law Firm Space

EEC to Move HQ From Santa Ana With Deal

Environmental Engineering & Contracting Inc., a Santa Ana-based environmental consulting firm, said it plans to relocate its headquarters to the City Plaza office tower in Orange in September.

RREEF Adds Anaheim Hills Office to OC Portfolio

$18.5M Buy Comes After $20.4M Tustin Office Deal

Anaheim Hills Office Plaza, one of the largest North Orange County offices built in the last real estate boom, has had another change in ownership.

Tenant-Improvement Firms Ride Upturn for 29% Jump

26 Firms Combine for $677 Million in Revenue Last Year

Orange County’s tenant-improvement industry posted its strongest year in more than a decade last year, buoyed by a spate of new construction work in addition to plenty of renovations at existing properties.

Menlo Sheds Irvine Office With $36 Million Sale

REAL ESTATE: Investor paid $20M for offices in 2010

A two-building office property in Irvine a few blocks from John Wayne Airport has traded hands for $36 million.

Hotels Get Creative With Modern Looks for Lobbies

Renovations, New Construction Emphasize Open Design

Look to the lobbies of Orange County’s newest and most recently redesigned hotels to see the hospitality industry’s latest generation of interior design on display.

Art Museum in Negotiations on Property

The Orange County Museum of Art said it’s negotiating with a unit of New York-based developer Related Cos. to sell its Newport Center property.

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OC Museum of Art Selling Newport Center Property

The Orange County Museum of Art said on Monday that it is negotiating with a unit of New York-based developer Related Companies to sell its Newport Center property.

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OC Museum of Art Selling Newport Center Property

The Orange County Museum of Art said on Monday that it is negotiating with a unit of New York-based developer Related Companies to sell its Newport Center property.

Brea Office Fetches $20.8 Million After Upgrade

Zodiac Inflight Building Sells to Ex-Arden CEO

A Brea office largely occupied by Zodiac Inflight Innovations, a maker of portable in-flight entertainment players and related software, has traded hands for more than $20 million.

Irvine Healthcare REIT Sale Possible

Irvine-based Griffin-American Healthcare REIT II, an owner of healthcare-related real estate properties, could be bought by NorthStar Realty Finance Corp. of New York, according to news reports.

TRI Pointe Expands Operations Post Weyerhaeuser Close

REAL ESTATE: Builder hires, grows office, as home prices rise

Expect a larger headquarters in Irvine but not much else in the way of local changes at TRI Pointe Homes Inc. following its audacious buy of the homebuilding division of Federal Way, Wash.-based timber conglomerate Weyerhaeuser Co.

Building Time in Orange?

Office Buys Could Spur Apartments, Tower Project

A big chunk of apartment construction and a new office tower could go up on land next to the Outlets at Orange following the recent sale of two nearby buildings.

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Report: Griffin-American Healthcare REIT II in Sales Talks

Irvine’s Griffin-American Healthcare REIT II, an owner of healthcare-related real estate properties, could be bought by New York-based NorthStar Realty Finance Corp., according to reports.

LA Fitness Buyout Plan Calls for $1.6B in Credit

SERVICES: Reports say $1B would go to single stakeholder

A new financing deal in the works for LA Fitness could result in a change in the ownership structure of the Irvine-based fitness chain.

Commercial Plans for Great Park Look Fit For Broadcom Campus

REAL ESTATE: Preliminary plan calls for 8 buildings, 2 million square feet

The developers of the Great Park Neighborhoods in Irvine have filed plans for the first batch of commercial construction at the former El Toro Marine Corps air station, a 2-million-square-foot office park that appears designed to hold the headquarters and expanded operations of Broadcom Corp.

First Look at Spectrum Tower

Irvine Company Goes With Glass for ‘Iconic’ Plan

The newest office tower planned for the Irvine Spectrum is expected to gain attention for more than its size.

Sunstone Back to Big Buys With Hawaii Deal

HOSPITALITY: Also acquires land under Fairmont Newport Beach

The $325.7 million acquisition of a Hawaii resort property could mark the beginning of an ambitious period of expansion for Sunstone Hotel Investors Inc.

LBA Quietly Takes Control of Local Dell Office

Plans Unknown for Aliso Viejo Building Near 73

One of the two Aliso Viejo offices owned by computer giant Dell Inc. has been quietly sold to a local investor.

William Lyon Homes Expands With $520M Buy

Newport Beach-based William Lyon Homes said it will purchase the homebuilding operations of Polygon Northwest Co. for $520 million.

El Pollo Plans to Stay on Familiar Turf After IPO

DINING: Modest growth plan follows sales gains, renovations

El Pollo Loco Holdings Inc. hopes the second time is a charm on its plans to go public.

How Osborn Found Room for Improvement

Casco Started at Kitchen Table, Now One of Largest in Local Field

Cheryl Osborn already defied stereotypes as a female entrepreneur in the male-dominated world of commercial real estate.

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El Pollo Loco Files Plans for $100M IPO

Costa Mesa-based restaurant chain El Pollo Loco Holdings Inc. has filed plans for a $100 million initial public offering.

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El Pollo Loco Files Plans for $100M IPO

Costa Mesa-based restaurant chain El Pollo Loco Holdings Inc. has filed plans for a $100 million initial public offering.

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William Lyon Homes Expanding with $520M Buy

Newport Beach-based William Lyon Homes said Monday it would purchase the homebuilding operations of Bellevue, Wash.-based Polygon Northwest Co. LLC for $520 million.

Pimco Gets Timing Right in Chicago Tower Sale

Office’s Value Jumps 34% In 2 Years in Hot Market

Add bond giant Pacific Investment Management Co. to the list of Orange County companies making headlines in Chicago’s high-rise office market.

LA Investor Gets Most of Airport-Area Office Campus

REAL ESTATE: Apartments, user sales some possibilities

The bulk of a 24-building low-rise office campus on Von Karman Avenue in Newport Beach has been sold to a Los Angeles-based real estate investor that’s evaluating development prospects at the nearly 20-acre site.

Backlogs Yet to Boost Construction Firms’ Top Lines

Revenue of 27 Biggest Decreases About 11%

A significant increase in the backlogs of Orange County’s largest commercial construction companies didn’t immediately translate into more work for them last year.

Goodman Birtcher Goes Big With Logistics Center

Inland Empire Site Will Have 1.6 Million SF Built on Spec

Goodman Birtcher in Irvine is getting busy with its plans to become one of the country’s biggest developers of large-scale industrial developments.

Google Gets Own Glass For OC Office

REAL ESTATE: Building about done, less costly ‘creative’ space

The new Orange County office for Google Inc. fills up the last chapter in the development of Impac Center in Irvine, a four-building office complex nearly a decade in the making.

Standard Pacific Adds to OC-Austin Connection

850 Homes in 10 Spots in Streetman Purchase

Austin has been a go-to source of business opportunities for Orange County’s commercial real estate industry in the past few years, with office and apartment investors in particular snapping up properties at a rapid clip in and around the Texas capital.

Developers Exceed Post- Recession Mark for First Time

Six Firms Finish 1.6M SF, More Than Double Last Year

The opening of new headquarters for two of Orange County’s better-known companies helped the area’s commercial development sector top a square footage mark not seen in six years.

RLJ Lodging Doubles OC Presence With Irvine Buy

$66M Price Tag Given to Embassy Suites Sale

Bethesda-based hotel operator RLJ Lodging Trust has snapped up a hotel in Irvine, its second local acquisition this year.

Hines’ Latest Buy: State Fund Building in Santa Ana

REAL ESTATE: Joins again with Oaktree, adds eight-story office

Hines Interests LP and Oaktree Capital Management LP have closed on their second major Orange County office property acquisition in as many weeks, adding the eight-story State Fund building in Santa Ana to their joint portfolio.

City Gets Creative at Tustin Legacy

REAL ESTATE: Wants office campus in line with hip trend

The city of Tustin is looking to turn a 43-acre portion of its Tustin Legacy development into Orange County’s largest creative-office campus.

Hines Gets 6 Buildings, Extra Acres at Brea Place

REAL ESTATE: Latest deal with Oaktree totals 560,000 square feet

Hines Interests LP has established itself as one of the largest commercial property owners in North Orange County following the purchase of a six-building office campus in Brea.

Arbonne Renews Lease for 146,000-SF HQ in Irvine

REAL ESTATE: Cosmetics firm considered relocation

Cosmetics company Arbonne International LLC has renewed the lease for its Irvine headquarters in one of the largest leases reported in the county so far this year.

Coastal Comeback

St. Regis Price Pegged at $320M, Reflects Rebound for Luxe Resorts

If the foreclosure proceedings faced by the St. Regis Monarch Beach Resort in 2009 was Orange County’s most notorious illustration of the last real estate crash, then May’s low-key sale of the posh resort represents a quiet but clear comeback for the high end of the hospitality industry here.

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