Mark Mueller covers commercial and residential real estate for the Orange County Business Journal. His beat also includes title insurers and mortgage lenders, as well as government stories that relate to real estate. He can be reached at email@example.com.
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EDUCATION: six-story structure to hold new hires
Work has started on a sizeable new science and engineering facility at the University of California-Irvine, designed to foster cross-disciplinary research in engineering, computing and physical sciences.
Signs of the Times
The leaves don’t change much in Irvine during the fall; the best sense you’ll get that November is approaching in OC’s fastest-growing city is the fast-growing collection of political signs dotting the area’s main thoroughfares, which have been popping up since before Labor Day. Anyone hoping for a respite in negativity and obfuscation in the city’s campaigning (which peaked with June’s Veterans Cemetery referendum) is bound to be let down.
REAL ESTATE: Office to be converted to industrial
One of Huntington Beach’s largest office buildings has sold, and is expected to make way for an industrial park.
INNOVATION: Largest co-working lease in OC
WeWork Inc. has plans to open the largest co-working space in Orange County, at the newly-built Boardwalk office development near John Wayne Airport.
HEALTHCARE: $95M commitment; OAB focus
Urovant Sciences Ltd., an Irvine-based clinical-stage biopharma company focused on developing and commercializing drugs for urologic conditions, has inked a deal for a second product candidate.
Other items of interest Orange County Business Journal Vol. 41, No. 38
Allergan PLC is buying Newport Beach-based Bonti Inc. for $195 million.
100-Unit Project on Street Busy With Apartments
The city of Laguna Niguel could soon see one of its largest for-sale housing developments in years go up on an office site near Crown Valley Road and the San Diego (5) Freeway.
REAL ESTATE: Panattoni, Stillwater pay $12 million
Panattoni Development Co., one of the country’s largest industrial developers, plans to move its headquarters from Newport Beach to Irvine, after investing in two buildings last owned by Allergan PLC.
Site Near MainPlace Mall To Get 727 Residences
A nearly 12-acre site close to Santa Ana’s MainPlace Mall that’s being eyed for a residential development has changed hands for an eye-opening price.
REAL ESTATE: $106M deal; creative-office perks planned
The Atrium building in Irvine, one of the most unique office properties in the area around John Wayne Airport, has a new owner—and plans for a major renovation.
REAL ESTATE: JWA portfolio has 8 buildings, totals 520,000 SF
An eight-building portfolio of office buildings in Newport Beach and Irvine has sold for about $160 million, the most expensive Orange County office transaction so far this year.
Costa Mesa-based Opkix Inc. raised $5.7 million in a Series B round as it nears production on a premium, wearable smart camera.
Offices Near 23-Home Lido Villas Development
Landsea Homes has moved a little closer to the sea, and to one of its more upscale developments.
REAL ESTATE: 15 acres in Santa Ana; $43.5 million
Ricoh Electronics Inc., a Tustin-based maker of digital copiers, printed circuit boards, scanners, printers and other products that’s long been one of Orange County’s largest manufacturers, has sold one of its big area properties, a nearly 15-acre site it owned on Red Hill Avenue in Santa Ana.
Base Tops 1.2M SF, 67 Locations
Entrepreneurs, small businesses and startups have a million reasons to smile about Orange County’s rapidly growing base of coworking locations and their wide array of customer amenities.
REAL ESTATE: Cal Poly Pomona picks developer for Lanterman
FivePoint Communities Inc. is in discussions to take over master development duties at a nearly 300-acre site on the eastern edge of Los Angeles County owned by California State Polytechnic University-Pomona.
REAL ESTATE: Taco Bell headquarters part of buy
LBA Realty has added another big office property in the Irvine Spectrum to its portfolio, snapping up a two-building property that includes the headquarters of Taco Bell Corp.
De Vries’ HJ Capital Group Heads Up Project
Expect to see the recently proposed Banc Hotel hospitality and office development in Irvine start to make its way through the city’s planning process next year, according to the ambitious project’s backers.
TechSpace Managed 2 Downturns—Will Others?
TechSpace Inc. was WeWork Inc. before WeWork was WeWork. The Aliso Viejo-based shared-space provider, whose roots date to 1997, can take claim as being one, if not the first, national firm to offer cutting-edge, amenity-heavy flexible work space to smaller companies.
9-Building Development Will Be Nearly 500K SF
Shea Properties has kicked off work on the largest ground-up industrial project in the area around John Wayne Airport in over a decade.
REAL ESTATE: 3 buildings, more parking planned for Royalty site
Edwards Lifesciences Corp. has proposed a major expansion of its Irvine headquarters, paving the way for Orange County’s largest public company to add hundreds of jobs to its local operations.
Broadcom’s Old Space Getting Snapped Up
Irvine-based LPA Inc., Orange County’s second-largest architecture firm, plans to spiff up its new headquarters at UCI Research Park.
Contracts Affect Ops Of Area Investors
Selling one of Newport Beach’s largest resort properties wasn’t an easy choice for Sunstone Hotel Investors Inc. Chief Executive John Arabia.
REAL ESTATE: $1.2 million per-room appraisal at high mark
The up-and-down valuation of the swanky Monarch Beach Resort in Dana Point over its 17-year history has apparently hit a new high, based on documents related to a new loan for the 400-room resort.
REAL ESTATE: Backer of 9-story project has colorful history
A nine-story development featuring a boutique hotel and nearly 167,000 square feet of office space has been proposed for a vacant site on Jamboree Road in the John Wayne Airport area of Irvine, one of the largest commercial projects put forth there in recent years.
$36.6M for 30-Unit Waterfront Project
An 11-acre waterfront site in Seal Beach whose fate has been in limbo for well over a decade has new ownership that plans a high-end housing project on part of the property.
Noise-Related Litigation Puts Big Lease in Question
Jazz Semiconductor Inc.’s operations in its longtime industrial facility in Newport Beach already have an agreed-upon expiration date of March 2027.
Popular Taiwanese restaurant chain Din Tai Fung is expanding its only Orange County location, at South Coast Plaza shopping center in Costa Mesa.
REAL ESTATE: Lennar’s Levity follows CalAtlantic land buy
Scott Stowell, the former executive chairman of Irvine-based CalAtlantic Group Inc. and chief executive of its predecessor company, Standard Pacific Corp., had a firsthand view of two of the homebuilding industry’s largest mergers and acquisitions in recent memory.
33-story Project Would Be 1st in Fashion District
Two Orange County firms are part of the development team working on plans for a high-rise residential tower in the Fashion District of Los Angeles.
Irvine-based TRI Pointe Group Inc. has made its largest reported Orange County land deal in several years for a 232-home infill housing site in downtown Anaheim.
7-Story Quail Street Office Goes for $32.1M
Newport Beach’s 1500 Quail Street, a seven-story office about a mile from the entrance to John Wayne Airport, has a new owner.
REAL ESTATE: 408-room, bay-area resort has ground lease
In the biggest hotel deal in Orange County in over a year, a Los Angeles-based investor has bought the Hyatt Regency Newport Beach.
5-0 Vote Could Lead to Retail Work Next Year
The long-awaited redevelopment of Dana Point Harbor could start as soon as next year, after the county signed off on a mixed-use project featuring three area developers.
New Home Goes With TRI Pointe, Woodside
Orange County-based homebuilders make up two of three firms tapped to build the first batch of homes at Bedford, the first major residential development in Corona in more than 15 years.
Recent Hotel, Retail Investments Near $1B
Fly about 2,500 miles west from John Wayne Airport to Maui, then drive half an hour to the resort area of Wailea, and you could be forgiven for thinking you’re still in Orange County when you notice the number of real estate investors and developers taking up shop.
RESTAURANTS: Site prepped for 125 staffers at start
Chipotle Mexican Grill Inc. is poised to become Newport Beach’s most valuable public company immediately following its move here from Denver this year.
Senior Housing Operator Plans HQ Move in 2019
Ensign Group Inc. (Nasdaq: ENSG) has doubled up on office space next to the Santa Ana (5) Freeway at a property relatively near its Mission Viejo headquarters.
FINANCE: IPO on shelf; private shareholders to sell
Anaheim-based Select Interior Concepts Inc., installer and distributor of interior building products used in the residential and commercial real estate sectors, could soon see more than $350 million of its common stock traded for the first time on a public exchange.
REAL ESTATE: Brea site goes to Hines & Oaktree
The local office of Houston-based real estate developer and investor Hines has added another sizeable property in North Orange County to its portfolio with the 34-acre office campus in Brea, which houses Beckman Coulter Inc.’s local operations.
REAL ESTATE: Old Toyota HQ getting industrial start
Sares Regis Group is starting to take the wraps off its plans to redevelop Toyota Motor Sales U.S.A. Inc.’s former North American headquarters in Torrance.
Palmer Luckey’s new defense technology startup, Anduril Industries Inc., is preparing to take up a much more prominent position in Orange County, and appears poised for a major hiring push.
To Lease 100,000-SF Harbor Gateway Building
An industrial building planned for the Harbor Gateway business park in Costa Mesa appears to already be spoken for.
653 Rentals Planned At Brea Place Campus
AvalonBay Communities Inc. plans to build its next area apartment development on the site of one of Brea’s largest office complexes.
REAL ESTATE: Entrepreneur, Gallagher searching for buys
Mark Moshayedi, one of Orange County’s best-known tech entrepreneurs, coastal property owners, and classic-car collectors, has a new commercial real estate venture.
Homebuilder Has Lending, Tech, Commercial Arms
To get an idea of the business acumen of Far West Industries and the Lissoy family, take a look at the Santa Ana-based homebuilder, developer and investor’s local operations during the Great Recession.
1st Real Estate Buy in US For Newport Beach Unit
Three-building retail property Jamboree Promenade near John Wayne Airport in Irvine changed hands.
REAL ESTATE: Anaheim portfolio now tops 1,500 units
Irvine-based apartments investor Advanced Real Estate Services Inc. has made its largest local acquisition in several years, picking up a rental complex near Angel Stadium in the Platinum Triangle area of Anaheim.
REAL ESTATE: Douglas Park hotspot for developers from OC
Orange County’s main hub of business might be the area around John Wayne Airport, but for several members of OC’s real estate development community, LGB has been the preferred destination over the past few years, not SNA.
REAL ESTATE: $166M land buy for homes starting at $350K
William Lyon Homes (NYSE: WLH) has been tapped to build one of the most unique home developments in Orange County in several years, a 536-unit project at Great Park Neighborhoods in Irvine with a large number of affordably priced homes.