Class B Rents Rise As Cheaper Space Sought
Year-end brokerage statistics show Orange County’s office market is approaching and in some cases exceeding the rental rate highs reached at the top of the last real estate cycle.
REAL ESTATE: Property flipped for Spectrum purchase
Irvine-based Shopoff Realty Investments wrapped up an active year of investments by buying a midsized office in Newport Beach close to its massive Uptown Newport residential development that it’s preparing to begin construction on.
REAL ESTATE: Monster Energy execs said to be part of deals
Irvine-based commercial real estate developer Greenlaw Partners, backed by two local high-net-worth investors, capped off an active year of acquisitions with office buys in Santa Ana and Irvine for nearly $120 million.
Newport Beach-based homebuilder RSI Communities said it has bought a 228-acre site in the Riverside County city of Beaumont, where it plans to build a 981-home development called Olivewood.
REAL ESTATE: Fountain Valley, SD sites sell, 2 more planned
The apartment portfolio of Newport Beach-based Irvine Company—the largest owner of rental properties in Orange County and in the state—is slightly smaller after the sale of two Southern California complexes, including one in Fountain Valley.
REAL ESTATE: $400M+ value for law firm skyscraper deal
Olen Properties Corp. has signed its largest and most valuable lease ever while keeping its anchor tenant in place at a skyscraper the Newport Beach-based real estate company owns in Chicago.
$47.5M for 2 Deals; Now Has 9,100 Units There
Irvine-based apartment investor and operator Bascom Group has added two rental properties in Las Vegas to its already sizeable portfolio there.
REAL ESTATE: Irvine Ranch No. 1 in U.S.; 4 locals in top 20
Orange County is one of the most supply-constrained markets in the U.S. for new home development, but you wouldn’t know that based on the surge of sales at the region’s four largest sources of new homes last year.
REAL ESTATE: $10.2 million for city-owned land along I-5
The developer of the Anaheim Concourse industrial campus has closed on the purchase of another, smaller development site near the Platinum Triangle.
REAL ESTATE: Plans filed for trilogy site it bought a year ago
San Diego-based Garden Communities of California has disclosed plans for its third big apartment development in Irvine, an 876-unit complex next to John Wayne Airport.
Led Hines Through Busy 2016; Intersect in Wings for This Year
The Newport Beach office of Hines Interests LP had a blockbuster year, with a steady stream of notable property acquisitions, sales, leasing news, and redevelopment activity.
REAL ESTATE: Gets 3 buildings, 161,000 SF in Aliso Viejo for $36M
A local investor has acquired the QLogic Corp. campus in Aliso Viejo and is planning to rebrand the site in preparation of the networking products maker vacating the three-building property this year.
17,500 SF Murtaugh Meyer Nelson Lease
Law firm Murtaugh Meyer Nelson & Treglia LLP is moving its practice up a few floors at the Century Centre office complex in Irvine.
Is the clock ticking on Orange County’s real estate market?
Food, Entertainment Main Draws at New Retail Landmark in Buena Park
Visitors to Buena Park’s soon-to-open retail center, The Source, next year should have the chance to check out a movie in a theater that incorporates interactive special effects, relax at a spa, play a round of virtual-reality golf, and sample fare from across the globe at a variety of restaurants unique to the area.
$46.5M Spent on 2 Sites That Last Sold for $34.1M
One of the largest business parks in Yorba Linda has been bought by an investor in San Francisco.
REAL ESTATE: Caltrans’ new space last sold for $40M in 2014
A Chicago-based real estate investor that buys commercial properties leased to government agencies has bought the State Fund office in Santa Ana, bringing its 2016 Orange County acquisitions tally past the $120 million mark.
Mega Transaction Expected to Include Land, Leaseback
The local office of real estate investment and development firm Hines Interests LP (see related story, page 4) has emerged as the likely buyer of the massive office campus being built for Broadcom Ltd. in Irvine.
156,000 SF of Total Space Leads San Diego, Lags LA
A new retail brokerage report has given credence to Orange County’s growing status as a foodie haven, particularly when it comes to hip food halls.
REAL ESTATE: $818M raised in past month for BRAVO III
Pacific Investment Management Co. has raised more than $800 million in recent weeks for a new fund that will invest largely in real estate-oriented assets.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
TA Realty-Led Fund Buys 292-Unit Amerige Pointe
Amerige Pointe, one of the largest apartment complexes in Fullerton, has a new owner.
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.
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.
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.
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.
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.
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.
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.
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.
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.
Santa Ana-based title insurance firm First American Financial Corp. has bought TD Service Financial Corp. of Orange on undisclosed terms.
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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