Orange County Business Journal

$73.4M for Office Campus in Cypress

REAL ESTATE: Deal largest for sector in West OC this year

The largest office campus in Cypress has sold to a big New York-based investor.

62% Price Bump in $41.2M Sale of Tustin Apartments

Increase for 165 Units Follows 2 Deals, 5 Years

The 165-unit Vio Apartments complex in Tustin has sold for the third time in five years in what looks to be a big markup in price from its last two sales.

Toshiba Closes Irvine Sale, Eyes New Space

REAL ESTATE: LBA makes 26-acre campus buy for $65M

The U.S. operations of Japan-based Toshiba Corp. should maintain a sizeable presence in Irvine following the sale of the company’s main local campus in the city, real estate sources say.

QLogic to Sell HQ In Aliso Viejo, Lease in Spectrum

REAL ESTATE: Takes 1 of 2 spec buildings on Sand Canyon

The new Silicon Valley-based owner of QLogic Corp. is moving the networking products maker’s local operations from Aliso Viejo to an office building under construction in the Irvine Spectrum.

The Source Preps for Opening at Beach and Orangethorpe

Retail, Office About Done, Hilton Hotel Year Away

Lynwood-based developer M&D Properties is gearing up for the opening of The Source, its big mixed-use development in Buena Park.

Bixby Land Swings Back to Industrial

REAL ESTATE: Warehouse buy latest break from creative offices

Bixby Land Co., one of the area’s most active developers of creative-office space, is putting more of its money into Orange County’s industrial market.

Village at Orange Fetches $84.5M

REAL ESTATE: Looks to be first buy here for SD-based investor

An investor from San Diego has bought the Village at Orange shopping center in one of the largest reported retail deals in Orange County this year.

‘Flight’ Plan Set for Creative Campus

Price for 40 Acres in Tustin Could Top $73M

Orange County’s first ground-up creative-office campus looks likely to break ground in mid-2017 under terms of an agreement between the city of Tustin and the developer of the project, which is called Flight.

Sperry Commercial Adds Former Irvine Mayor to Mix

REAL ESTATE: Will aim to build broker roster, Asia links

Sperry Commercial Global Affiliates LLC, an Irvine-based commercial real estate brokerage that started operations this summer, has hired the former mayor of its hometown to beef up its presence in Asia.

Recently Built Placentia Apartments Sell for $44M

Union Place Opened in ’12; 1st for City in Over a Decade

Union Place, the first big apartment complex to be built in Placentia in over a decade, has sold.

South Coast Metro Office Sells to SD Investor

REAL ESTATE: Estimated $50.5M for Santa Ana building

One of the high-end office buildings in the Hutton Centre mixed-use campus in Santa Ana has been sold to an investor from San Diego.

E-Commerce Drives Industrial Demand in OC

Amazon Lease in IBC Leads New Rental Wave

Amazon.com’s recent entry into Orange County’s industrial market is the clearest example yet of the growing role that e-commerce is having on the area’s warehouse and distribution building base.

Burnham-Ward’s Next Retail Act Set for LB

REAL ESTATE: SOCO developer sees similar potential at Boeing site

The developer behind the South Coast Collection shopping center in Costa Mesa is gearing up to break ground on a hip retail project near Long Beach Airport.

Invesco’s Aliso Viejo Offices in Line for Battery Boost

Deal With AMS Uses Tesla Batteries to Store Energy

Dallas-based institutional investor Invesco Real Estate is using its office holdings in Aliso Viejo for the initial rollout of a cutting-edge energy storage project that it plans to expand to other parts of its sizable real estate portfolio in the U.S. over the coming years.

IE Billionaire in Deal For Google Campus in Irvine

REAL ESTATE: Estimated $255M tops for OC office deals since 2012

A billionaire from the Inland Empire has acquired the five-building office campus in Irvine that holds the local operations of Google Inc. and others in what appears to be the largest office deal in Orange County in several years.

Ralph’s Allumbaugh: OC Civic Leader, Newport Beach Resident

Byron Allumbaugh, a longtime chief executive and chairman of Ralphs Grocery Co. who counted deep ties to Orange County’s business community, passed away over the Oct. 29 weekend. He was 84.

99 Ranch Backs Up Expansion Plan With Big Buy in Buena Park

REAL ESTATE: Asian-themed grocer gets Georgia-Pacific plant

The owner of Asian-themed grocery store chain 99 Ranch Market has bought a large distribution facility next to its headquarters in Buena Park in one of the priciest industrial sales in Orange County this year.

Kaiser Commits to CT’s Healthcare Campus in AV

REAL ESTATE: 40,000-SF office part of $250M project

CT Realty Investors has added another notable name to the lineup of companies preparing to occupy space at the 25.6-acre healthcare campus it’s developing in Aliso Viejo.

Amerige Heights Rentals in Fullerton Sell for $115M

TA Realty-Led Fund Buys 292-Unit Amerige Pointe

Amerige Pointe, one of the largest apartment complexes in Fullerton, has a new owner.

J.C. Penney Lists Massive Buena Park Facility for Sale

REAL ESTATE: 1.1M-SF industrial site could move for $125 million

J.C. Penney Co. has put its massive logistics and distribution facility in Buena Park on the market and plans to relocate operations to a smaller site in the Inland Empire.

Auto Dealership Moves Ahead at Former Nabisco Site

Buena Park Project Follows TRI Pointe Land Sale

A 4-acre development site in Buena Park that once was part of a larger Nabisco food manufacturing facility has seen a change in ownership.

From Fee Builder to Fastest Grower

Weyerhaeuser Buy Helps TRI Pointe to 660% Jump in Sales

You can add another first to the resume of TRI Pointe Group Inc., a homebuilder whose growth over the past seven years is among the most rapid of any Orange County company on record.

Foreign Capital’s 2-Year OC Real Estate Push Tops $2B

Industrial Buys Lead Way; China Goes Big on Hotels

Beijing-based Anbang Insurance Group Co.’s recent purchase of two of Orange County’s premier resort properties—Montage Laguna Beach and The Ritz-Carlton, Laguna Niguel—has pushed foreign capital’s investment in the local commercial real estate market past the $2 billion mark over the past two years, according to a new research report by brokerage JLL.

LBA Eyes Toshiba Campus on Heels Of Park Place Sale

REAL ESTATE: Allianz pays $390M; Spectrum spread could fetch $100M

LBA Realty, fresh off the highly profitable sale of a portion of its holdings in the Park Place mixed-use campus in Irvine, now has its eyes on another sizeable property in the city for a potential investment.

Chapman, Blizzard in Talks for Spectrum Offices

Brandman Could Move to Mazda’s Old Digs

Chapman University is looking to relocate and expand the presence of its Brandman University affiliate in the Irvine Spectrum through two real estate transactions likely to top $60 million combined.

Anaheim Concourse Buildings Sell For $188M

CalPERS-Backed Investor Pays Record Per Square Foot

Real estate investment adviser Bentall Kennedy has made one of the largest industrial acquisitions ever in Orange County, buying close to a million square feet of recently built space in Anaheim.

Harbor Associates Ramps Up OC Acquisition Push

REAL ESTATE: Pays over $30M for offices in Tustin

A startup investment and development group based in Long Beach that focuses on creative-office conversion projects has made its largest investment yet in Orange County, for a three-building property in Tustin.

Great Park Sports Park Readying for Users, Revenue

53-Acre First Phase to Be Completed by Year-End

The first phase of Great Park Sports Park already appears to be paying dividends, in revenue earmarked for the city of Irvine next year.

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First American Buys TD Service Financial

Santa Ana-based title insurance firm First American Financial Corp. has bought TD Service Financial Corp. of Orange on undisclosed terms.

Manulife Adds Irvine Office to Airport-Area Holdings

17911 Von Karman Likely Sells for $33M+

Financial services company Manulife Financial Corp. has added another office to its real estate investment portfolio near John Wayne Airport.

Deloitte Renews Lease at Park Tower in Costa Mesa

OC’s Largest Accountancy Takes Smaller Space

Deloitte LLP, the largest accounting firm in Orange County by employee count, has re-upped the lease on its local offices in Costa Mesa.

San Jose Investor Buys Surf City Rentals for $60M

REAL ESTATE: Complex 2nd recent deal for Saratoga

An apartment investor in Silicon Valley has snapped up a big rental complex in Huntington Beach, extending its acquisition push in Orange County since the start of the summer past the $130 million mark.

Tall Reputation, Top Rents at 200 Spectrum

Houston-Based Crown Castle Takes 2 Floors

Wireless infrastructure firm Crown Castle International Corp. is the latest big lessee signed for the 200 Spectrum Center tower in Irvine, where top floors appear to now boast the highest rents of any space in the city.

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Shopoff Realty Buys in Las Vegas, Chicago Top $100M

Shopoff Realty Investments in Irvine has paid in excess of $100 million for an apartment complex in Las Vegas and a pair of commercial buildings in Chicago.

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Bascom Sells Denver Apts for $350M

Bascom Group LLC in Irvine has sold one of its larger apartment properties, a 1,523-unit complex in Denver, in what local reports said is the priciest deal for a rental property in that city.

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Platinum Triangle Developer in $255M JV with China Fund

The Texas developer planning to build one of the larger apartment complexes in Anaheim’s Platinum Triangle has entered into a $255 million venture with a private equity fund from China to finance the project.

Hines Adds Land to Raytheon Campus Holdings

Follows 2012 Deal for 2 Offices at Fullerton Site

The local division of Houston-based Hines Interest LP has bought the ground under one of its larger Orange County office properties.

Curious Commodity Case Crops Up in Irvine

REAL ESTATE: Building on Main in ‘brazen scheme’ on aluminum?

An unassuming industrial building in the heart of the Irvine Business Complex appears to be playing a part in an international trade caper that purportedly stretches from China to New Jersey to a desert in Mexico.

The Dirt at One Broadway

Harrah Mum on Tenants, Puts 28-Month Timeline on 37-Story Tower

One Broadway Plaza, the long proposed 37-story Santa Ana office tower that would be Orange County’s tallest building, is slated to approach nearly 500 feet when it’s built.

LBA Nears Sale Of Industrial for $1.5B

REAL ESTATE: Blackstone under contract to buy nearly 50 buildings

Irvine-based real estate investor LBA Realty is close to making its largest deal in more than a decade with a blockbuster sale of a large portion of its industrial portfolio.

Shopoff Eyes Residential In Downtown Anaheim

REAL ESTATE: 21-acre industrial property would get 500+ units

Shopoff Realty Investments is looking to convert a nearly 21-acre industrial property in downtown Anaheim into a major residential development with more than 500 homes, townhomes and apartments.

Amazon’s Prime Now Sets Up Near Airport

REAL ESTATE: 170,000 SF to support 2-hour delivery program

Amazon.com has quietly signed a lease for an industrial building not far from John Wayne Airport that appears poised to be a linchpin in the online retailer’s growing base of same-day delivery services in the area.

TA Realty’s South Coast Metro Offices Up for Sale

Sandpointe Offices Hold Universal Electronics HQ

Boston-based TA Realty has put up for sale a pair of eight-story offices it owns in the South Coast Metro area of Santa Ana, according to area brokers.

CalSTRS Gets Rockwell as Tenant in Irvine

REAL ESTATE: Hines, Oaktree sell for more than $60M

A San Francisco-based investor backed by funds from the California State Teachers’ Retirement System has bought a two-building office complex in Irvine in a deal believed to have topped $60 million.

Developer Takes On ‘Rusty Skeleton’

REAL ESTATE: Stalled project seen as senior housing, retail

A land development company in Los Angeles County has bought the “Rusty Skeleton,” a long-abandoned construction site in Garden Grove that it plans to turn into a senior housing and retail project.

Lennar Preps New Homes at Great Park Neighborhoods

Some Parasol Park Homes To Open in November

The first batch of home sales at Great Park Neighborhoods’ Parasol Park in Irvine appears to be kicking off a few months earlier than initially expected.

Mobilitie Looks Good For Ride in Fast Lane

TECHNOLOGY: Potential deal with Sprint promises more growth

You could say that Mobilitie LLC moved up a weight class among Orange County’s private companies last year.

Hong Kong Firm Nabs IBC Residential Site

REAL ESTATE: 371 apartments eyed for St. John Knits buildings

A Hong Kong-based company that bills itself as a business incubator and investor in early-stage technology companies has taken a more down-to-earth approach with its first reported deal in Orange County: a land buy for a big apartment development in Irvine.

Anaheim Nears Sale of 25 Acres for Retail

REAL ESTATE: Zelman eyes 300,000 SF near Knott’s

The city of Anaheim is moving forward on plans to sell a long-vacant, 25-acre site on its western side to a retail developer.

Angels Push Back on Mixed-Use Plan Near Stadium

LT Global Awaits City EIR Decision, Council Vote

It looks like the biggest battle the sputtering Los Angeles Angels of Anaheim will have on their hands over the next few months will involve potential development of a 14.8-acre site next to their stadium.

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