Orange County Business Journal

LBA Latest OC Investor With Eye to Buy in Phoenix

Rumored $275M Deal For 4-Office Portfolio

LBA Realty is in line to buy a big office complex in Phoenix, making the Irvine-based investor the latest Orange County real estate company making waves in that region.

IBC Apartment Sale Points to New Benchmark

REAL ESTATE: Estimate on per-unit price tops $400,000

A recently built apartment complex has traded hands in what looks to be one of the priciest per-unit deals for a multifamily property in the Irvine Business Complex.

Olen’s Spree: 3 Deals, 3 States, 1,000 Apartments

REAL ESTATE: Portfolio now tops 12,000 residential units

Olen Properties Corp. has spent nearly $200 million to buy three out-of-state apartment complexes this month, adding to a busy year of acquisitions for the Newport Beach-based real estate owner and developer.

Hip Is Hot: Costa Mesa Retail Center Draws $120M Investment

REAL ESTATE: LA firm buys into Burnham-Ward project off 405

SOCO—the hip mix of furniture, fashion, design and food tenants along the San Diego (405) Freeway in Costa Mesa—has gotten a new ownership structure and a big boost in its valuation.

Irvine Developer Gets $23 Million for Anaheim Hotel

Five-Story, 110,000-SF Project Set to Open in ’16

One of the developers planning a hotel for Anaheim’s resort area has gotten a construction loan to get the project under way.

China-Based Builder Gets 96 Acres in Lake Forest

REAL ESTATE: Pegged for 626 homes; deal estimated at $190M

A China-based homebuilder looking to diversify its operations into the U.S. has bought a big development site in Lake Forest.

Mobilitie's Move

$325M in Funding, Hiring Spree Point to National Network of Small Cell Base Stations

A just-completed $325 million fundraising deal for Mobilitie LLC comes as the Newport Beach-based wireless infrastructure company is gearing up for what it is calling the “largest network deployment initiative in the U.S.”

John Hancock Pays $104.5 Million for 5000 Birch

REAL ESTATE: Insurer adds 3rd office building in JWA area

The real estate investment arm of John Hancock Life Insurance Co. has added a pair of office buildings in Newport Beach to its growing local portfolio.

Western Realco Buys 2nd Fullerton Development Site

8 Acres a Few Blocks From Former Beckman HQ

Western Realco has added another property in Fullerton—and another site with ties to medical testing company Beckman Coulter Inc.—to its industrial development pipeline.

New Home Takes Upscale Offerings To Phoenix Market

REAL ESTATE: First project outside state resembles Meridian in Newport

The New Home Co. has inked a deal to build an upscale housing project in the Phoenix area, its first development outside California.

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Mobilitie Raises $325M in Debt Funding

Newport Beach’s Mobilitie LLC said that it had raised $325 million to fund the deployment of its wireless infrastructure projects.

OC Office Development Gets Serious on Spec for '16

2.5M SF in Works Approaches Prerecession Pace

Developers are taking a much more varied approach to projects planned for Orange County’s office market next year than during the area’s last building boom.

Harrah Sees ‘Whole Package’ in Register Parent’s Turmoil

Developer Part of BK Bid, Could Try Again on Last of Publisher’s Land

Developer Mike Harrah said he remains interested in buying 14.3 acres surrounding the headquarters of the Orange County Register despite an earlier deal for the land falling apart and the newspaper’s parent company’s latest complications.

Voit’s Latest Local Changes Are RiverRock’s Gains

1.5M-SF Management Pact Adds to Strategic Moves

Newport Beach-based RiverRock Real Estate Group Inc. has picked up a sizeable account for its property management business in the latest big change in the operations for Voit Real Estate Services and its affiliated companies.

Texas Mortgage Firm To Pacific Arts Plaza

REAL ESTATE: Pacific Union to consolidate local offices

Irvine Company has found a tenant for one of its largest empty blocks of office space in the area around John Wayne Airport.

Tustin Property for Retail, Hoag Projects Near Sale

City-Owned Land Trading For Less Than Nearby Sites

The developers looking to turn a nearly 21-acre parcel at Tustin Legacy into a retail and healthcare project appear to be getting a good price on the city-owned land.

Garden Grove Hyatt Draws Chinese Buyer

REAL ESTATE: Shanghai firm paid $137M for 653-room hotel

An affiliate of one of China’s largest construction companies has purchased the Hyatt Regency Orange County in Garden Grove for $137 million.

Homebuilder Tops List After 2 Years Back in Public Market

Industry Watchers Speculate It Could Be Ripe for Consolidation Trend

Improving fortunes in the housing market and a disciplined operating plan have provided a boost to the fortunes of William Lyon Homes Inc. during its return to the public markets.

Quail Street Offices in Newport Beach Get Creative

Bixby Moves to Avalon, BKM Buys Athletic Club

Bixby Land Co. didn’t have to look too far to find its first tenant for a creative-office redevelopment it recently finished in Newport Beach.

Lease Buffs Newport Center’s Financial Luster

REAL ESTATE: Irvine Co. nabs BofA division for new tower

The Irvine Company has landed its largest tenant yet for the new 520 Newport Center office tower next to Fashion Island.

KBS Latest OC Firm To Eye Big Easy Hotels

REAL ESTATE: $51.2M buy comes as $2.3B REIT ramps up

KBS Realty Advisors is the latest Orange County real estate investor looking to invest in New Orleans’ hospitality market, even as the Newport Beach-based company continues to seek deals—and investors—in its own backyard.

Western Realco Gets Beckman-Coulter Site in Fullerton

REAL ESTATE: Business park would boost city’s industrial base

Western Realco is planning to build a multibuilding business park on land in Fullerton that previously held the headquarters of Beckman Coulter Inc.

Panattoni Lands Disney for Anaheim Concourse

REAL ESTATE: One of two largest at 14-building project

Walt Disney Co. has inked a deal to lease one of the largest new industrial buildings built in Anaheim over the past decade to support its local theme park and resort operations.

Monster Energy Duo Invests in Central OC

REAL ESTATE: Tower bought in deal with PRES Cos.

The cash-flush duo that runs Corona-based Monster Beverage Corp. is looking to provide a boost of energy to a high-profile office tower in Orange they’ve just bought.

Allergan to Shed Pair of Off-Campus Offices in Irvine

Marketed For Potential Creative-Office Uses

Allergan PLC has put a pair of office properties it owns in Irvine on the market. It’s the first time Allergan has tried to shed locally owned buildings since its sale to Actavis PLC this year.

New Spectrum-Area Event Facility Puts on the Glitz

ECONOMY: Gensler-designed center to have capacity for 1,000

A longtime area special-events producer is pulling out all the stops for a meeting and events venue that’s being built in the Irvine Spectrum.

Condos Now Proposed for Fashion Island Carwash

REAL ESTATE: 49 units would be latest for-sale project

Land in Newport Center that holds a carwash and that was once eyed for a boutique hotel now is being considered for a condominium project.

Some Irvine Co. Offices To Go ‘Behind the Meter’

REAL ESTATE: ‘Biggest deal ever’ to use grid-feeding batteries

The Irvine Co. has signed on to a cutting-edge energy storage project that will transform nearly two dozen of its highest profile offices in the Irvine Spectrum and John Wayne Airport area into hybrid electric buildings over the next year.

Rare Commercial Deal in Pricey Corona del Mar

2-Building Office-Retail Space Nabs $734 PSF

A pair of office and retail buildings on East Coast Highway in Corona del Mar has traded hands at what’s been described as a record price for the area.

Moshayedi Scores on Retail Rebound in IE

REAL ESTATE: $147M price for Chino Hills center up 55%

A bet on the Inland Empire retail market in 2010 has paid off well for MX3 Ventures, a Newport Beach real estate investor with ties to former Santa Ana-based storage device maker STEC Inc.

Albertsons Plans Chilly Expansion in Irvine Spectrum

Distribution Center Project Could Start in November

The Irvine Spectrum’s industrial market is about to get a little cooler, and a creative-office redevelopment isn’t the cause this time around.

CalAtlantic Goes With Irvine Over Westlake Village

REAL ESTATE: Expects to set up similar corporate hub on East Coast

Irvine has gotten the nod over Westlake Village in the merger of Standard Pacific Corp. and Ryland Group Inc.

Emulex Campus Next in Line for Creative Office Makeover

REAL ESTATE: Upgrade, possible addition to 3-building campus

The new owner of Emulex Corp.’s headquarters in Costa Mesa is planning a creative-office redevelopment of the existing three-building campus, with additional ground-up development on excess land at the property a possibility.

Olen Sold on Aliso Viejo, Snaps Up Business Park

REAL ESTATE: Six buildings fetch estimated $20 million

Newport Beach-based Olen Properties Corp. has made its largest local purchase in two years, snapping up a business park in Aliso Viejo.

Koll Co. Makes Largest Local Purchase in Years

REAL ESTATE: Latest buy with Rialto valued at $30.5 million

The Koll Co. has made its largest reported local purchase in several years, snapping up an office tower just over the Los Angeles County line in Cerritos.

KBS Realty Doubles Up in Downtown San Jose

$150 Million Office Buy Would Be 2nd Since 2014

An affiliate of Newport Beach-based KBS Realty Advisors is under contract to buy one of the more prominent office complexes in downtown San Jose.

LBA Nabs 18-Acre Campus in Anaheim Canyon

REAL ESTATE: Plans to lease 2 of 3 buildings back to AT&T

LBA Realty, fresh off a big financing deal for its Park Place mixed-use campus in Irvine, has snapped up an 18-acre property in Anaheim from AT&T Inc.

TechSpace Plans Austin Opening, More Expansion

Flex-Space Operator Latest OC Firm to Eye Texas

Office-campus operator TechSpace Inc. is the latest Orange County real estate company making a push into Austin, Texas.

Albertsons Plans 200,000-SF Addition in Irvine

REAL ESTATE: Puts 170 acres at two LA County sites on block

Grocery chain Albertsons Cos. is looking to expand the size of its already-formidable distribution center holdings in Orange County and shed some big industrial properties it owns in Los Angeles County and Oregon.

Accretive Realty Preps New SJC Med Center for Sale

Project Will Be Model For Huntington Beach Site

Obamacare is paying local dividends for Accretive Realty Advisors Inc., an Irvine-based real estate investor and developer that specializes in medical properties.

New Package for A-Town

Platinum Triangle Project Recast; Could Be Part of Fund With Sovereign, Institutional Backers

Lennar Corp. plans to begin construction by year’s end on the first phase of residential development at its massive—albeit slimmed down—A-Town project in the Platinum Triangle.

Newport Center’s Profile Continues Global Rise

REAL ESTATE: Wells Fargo, Wing Lung latest leases

The Irvine Company appears to be seeing an uptick in leasing activity for its new 520 Newport Center office tower, even as a recent report suggests that the newest addition to the seaside corporate hub now has one of the highest-ever asking rents for a building in Orange County.

Tribune Media Adds Land Next to Vacant Times Plant in CM

REAL ESTATE: 4 acres off 405 seen as part of redevelopment plan

Chicago-based Tribune Media Co. appears to be expanding its development plans in Costa Mesa.

Land Sale Near Tustin Legacy Points to Next Hotel in Irvine

REAL ESTATE: Buyer sells HB Best Western before $7.4M deal

Add a hotel to the increasingly lengthy list of new types of product planned for land bordering the Tustin Legacy development site.

Broadcom Potential Tenant for San Jose Campus

Apple Reported To Be Other Possibility

Irvine-based Broadcom Corp. could be close to finalizing a deal to build a second office campus for its operations, this time in Silicon Valley, according to news reports coming from Northern California.

Oculus Effect: Newport Gateway Lands Tech Tenants

REAL ESTATE: Irvine Company revamps, recasts office complex

Oculus VR Inc. might not count Irvine as its headquarters any more, but the virtual reality headset maker’s influence on Orange County’s technology sector can still be seen in the buildings where its local operations are housed.

Stadium Towers Owner Sees Room for More

REAL ESTATE: Could add 300,000 SF, 15 stories on Katella

The owner of Stadium Towers Plaza, a 12-story office next to Angel Stadium of Anaheim, is in the early stages of planning to double down on the same site.

Volt Eyes Sale of 12-Acre Office Campus in Orange

Aims For 10-Year Leaseback of Western Hub

Volt Information Sciences Inc., a New York-based provider of staffing services, has put its Orange office campus on the market.

Investors Pick Up Foothill Plaza For Nearly $50M

Offices Next to 241 Hold HQ for Kaiser Aluminum

Foothill Plaza, a two-building complex in Foothill Ranch that’s one of the highest-quality buildings in the office market in and around Lake Forest, has traded hands at a price approaching $50 million.

Latest Big Office Deal: $73M in Newport Beach

REAL ESTATE: Prudential affiliate gets 202,000 square feet near JWA

A 10-story office building in Newport Beach is the latest property to get snapped up by institutional investors bullish on Orange County’s improving economy.


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