Orange County Business Journal

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Taylor Morrison Buys Pacifica San Juan Site in SJC

A venture that includes Scottsdale, Ariz.-based Taylor Morrison Home Corp. has bought the stalled Pacifica San Juan home development in San Juan Capistrano.

Spec Office Developers Take Varied Approaches

Low-Rise, Creative Re-Use Planned Alongside Towers

Orange County developers are taking varied approaches to speculative office developments in the improving local economy, including a cautious approach on ground-up projects.

New Home Co. Nears $250M Land Buy

Deal in Works With Irvine Co. Includes 2 Sites in Crystal Cove

The New Home Co. is looking to double down on Orange County’s luxury home market with its latest batch of land deals.

Device Maker Weighs In on Change in IBC

‘Concessions’ to B. Braun as For-Sale Residential Returns

One of the first developments in the Irvine Business Complex to propose for-sale residential development in nearly a decade is proceeding after getting some pushback from a medical device maker whose local manufacturing operations are next to the project.

Retail Developer Buys Into Maui Resort Market

REAL ESTATE: Burnham adds upscale center to OC holdings

Burnham USA Equities Inc. is the latest local developer to tap the tony Hawaiian resort community of Wailea for a major investment.

Shea Properties, KBS Plan $76.7M Deal in Denver

First Office Built at Shea’s Village Center Station

Aliso Viejo-based commercial developer Shea Properties Inc. is under contract to sell part of a big office project in Colorado to another locally based investor, KBS Realty Advisors.

Office Campus Eyed at Jamboree & Dupont

Trammell Crow Could Build 550,000 SF on 7.5 Acres

Trammell Crow Co. is eyeing a vacant land site it just bought near John Wayne Airport for a major office campus.

Broadcom’s Great Park Land Buy Gets a Little Pricier

$156 Million Total Includes Land, Taxes, and Deposits

Broadcom Corp. has given a few more financial details about the land deal it made for its planned new headquarters campus next to Orange County Great Park.

Crossover, Newcomers Highlight OC 50

Inventory of Influence Includes 15 of Wealthiest Here

Wealth doesn’t necessarily translate into power in Orange County, but the two do cross paths.

Fisker Launches Customer Support Site

Costa Mesa-based Fisker Automotive and Technologies Group LLC launched a new customer support website for owners of its Karma luxury sports cars.

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More Homes at Rancho Mission Viejo Moving Ahead

A quartet of Orange County homebuilders are gearing up for the development of Esencia, the second village planned at the ranch community of Rancho Mission Viejo.

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Fisker Launches Customer Support Website

Fisker Automotive and Technologies Group LLC has launched a new customer support website for owners of its Karma luxury sports cars.

Fisker Back to Anaheim?

New Office Likely, Manufacturing in IE Possible

Add real estate needs to the list of mysteries surrounding the second iteration of Fisker Automotive Inc.

Pricey Land Sale Sets Stage for Arts District Rentals

Legacy Partners Closes On 2-Acre Retail Site

The Lakes Pavilions retail center in the arts district of Costa Mesa has sold in a long-awaited deal that paves the way for a high-end apartment complex to be built at a site across the street from the Segerstrom Center for the Arts.

Allergan Job Reduction Could Lead to Less Space

Expected to Exit 3 Floors At 2600 Michelson Tower

The first example of Allergan Inc. retrenching its local real estate presence in Irvine following its $72.5 billion sale to Actavis PLC is expected to take place at a high-rise office where Allergan was leasing space.

Tustin Could Turn Toward Spec on Creative Offices

REAL ESTATE: Near deal with Lincoln on 37-acre Cornerstone parcel

The city of Tustin is nearing a deal with the Southern California offices of Lincoln Property Co. to have the company take over development of a 37-acre creative-office project at Tustin Legacy.

Santa Ana Offices Fetch $24 million

REAL ESTATE: 50% hike in value boost in two years

The Freeway Corporate Park office campus next to the Costa Mesa (55) Freeway in Santa Ana sold for $24 million in the latest big commercial property sale on a busy stretch of the freeway.

Greenlaw Adds to Orange Holdings With Buy

REAL ESTATE: Eyes hotel, apartments for area properties

Greenlaw Partners has added another notable property to its portfolio of offices next to the Outlets at Orange shopping center.

Steadfast Cos.’ Buying Binge Gets National Attention

Apartment Portfolio Now 30,000 Units, Ranked 40th

A healthy amount of acquisitions across the country over the past year has vaulted Irvine-based Steadfast Cos. into the ranks of the largest owners of apartments in the U.S.

Liftoff for Office Landlords?

REAL ESTATE: Shift suggests spec development on horizon

Advantage landlords. That’s the picture that emerges from the most recent data on Orange County’s roughly 100-million-square-foot office market, which wrapped up the first quarter in its strongest position since the onset of the Great Recession.

Irvine Company Redefines High End of Portfolio

REAL ESTATE: Penthouse planned atop Manhattan tower already leased

Irvine Company has found some extra space to lease in its most valuable building, where it’s poised to create the priciest floor in its nearly 500-building office portfolio.

CapRock Buys Irvine Office, Plans Creative Redo

REAL ESTATE: $9.6M estimate for 55,474-SF low-rise

Irvine-based CapRock Partners LLC has snapped up an office just off the Costa Mesa (55) Freeway for its latest local creative-office project.

Western Realco Eyes More Industrial in Brea

REAL ESTATE: 3rd speculative project would be 216,000 SF

Newport Beach-based Western Realco has bought nearly 10 acres of land in Brea, where the developer is planning its third big speculative industrial project in the city since 2012.

Bella Terra Gets New Ownership

Prudential Real Estate Investors said it acquired a 75% stake in the Bella Terra Shopping Center in Huntington Beach.

Way Up In Arts District

Proposal for Luxury Condo Tower to Costa Mesa Planners

The owners of the Avenue of the Arts Wyndham Hotel are moving ahead on plans to build the first high-rise condominium tower in Costa Mesa’s arts district.

LBA Realty Nears Another Office Purchase From Dell

Report of Nashville Deal Follows Buy in Aliso Viejo

Irvine-based LBA Realty is poised for a big investment in Nashville, Tenn., according to reports there.

Medical Office Project Moves Ahead in NB

REAL ESTATE: Land buy, redesign for Birch Street project

A long-planned medical office development in the Santa Ana Heights area of Newport Beach is moving ahead following a recent sale of the nearly 4½-acre site and a redesign of the proposed project.

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Bren Imposter Sentenced to Time Served, $1.1M in Restitution

The convicted bank robber who stole the identity—and a $1.4 million tax refund—of Irvine Company Chairman Donald Bren was sentenced to time served, restitution and supervised release, according to court records.

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Bella Terra Gets New Ownership

Prudential Real Estate Investors said it has acquired a 75% stake in Huntington Beach's Bella Terra Shopping Center.

SunCal Back in Development Game in SoCal Region

Buys Arts District Land in LA for Reported $130M

Master developer SunCal Cos. is starting to make big waves in its backyard again.

Irvine Company Eyes Another Spectrum Tower

REAL ESTATE: Plans indicate office on par with project now in works

The Irvine Company is considering doubling down on its high-rise office development plans in the Irvine Spectrum.

Bixby Envisions New Ride for Kawasaki HQ

REAL ESTATE: Plans biggest makeover yet after $44.3M buy

The purchase of Kawasaki Motors Corp. U.S.A.’s Irvine headquarters is the keystone in a redevelopment plan by Bixby Land Co. that could top $70 million when the costs for a makeover of the existing building and an adjacent parcel of land are considered.

Irvine Balks at County’s Plans Near Great Park

REAL ESTATE: High-density, mixed-use projects eyed for sites

Officials with the city of Irvine have expressed concern over massive commercial development plans proposed for a pair of county-owned land sites totaling about 144 acres next to Orange County Great Park.

Irvine Company Takes Balancing Act Beyond OC

REAL ESTATE: NYC buy highlights push for additions away from home

The Irvine Company has added two hometown office towers to its property management portfolio in the past year and has an even larger project moving ahead in the Irvine Spectrum, consolidating its role as Orange County’s dominant real estate owner.

Commercial Brokerages Post Fifth Year of Gains

Leasing Activity Picks Up, Sales Volumes Still Strong

A sharp increase in leasing activity, continued strength in the for-sale market, and the effects of industry consolidations propelled Orange County’s largest commercial brokerages to a banner year in 2014.

Mobilitie Man

Add Reinvention, Real Estate to His Resume

Gary Jabara has overseen two successful business startups, one major business reinvention, and a big commercial real estate buying spree—all in a little over 10 years.

Burnham-Ward Eyes Creative Redo on Westcliff

REAL ESTATE: Retail, eatery to join doctors

A prominent medical office building on one of the more eclectic streets in Newport Beach is about to get a big makeover.

Big Blocks of Space Scarce in OC’s Best Buildings

Limited New Construction Anticipated This Year

Large holes of space in Orange County’s biggest and best office buildings are quickly filling up, particularly near John Wayne Airport, and area brokerages say few development projects are in the pipeline to boost supply.

Bascom Latest OC Investor to Spend Big in Bay Area

$45.1M for 220-Unit Complex in Emeryville

Add Irvine-based Bascom Group LLC to the growing list of Orange County real estate companies spending big in the Bay Area recently.

Law Firm Makes Short Trip to New HQ at 1900 Main

Palmieri, Tyler to Move From Century Centre

Palmieri, Tyler, Wiener, Wilhelm & Waldron LLP is the latest local law firm that’s figuring out how to use less space for its operations.

Signs Point to Top Prices Paid for Beacon Park Land

Great Park Project Nears Irvine Co. on Lot Prices

Lot prices for the latest batch of homebuilding at Great Park Neighborhoods don’t appear to be cheap.

Price of Chinese Developer’s Platinum Plan: $450M

1.7 Million SF Near Angel Stadium Would Include Luxe Hotel, Condo Tower, Surf Park

A Chinese developer has proposed a mixed-use project next to Angel Stadium that could rival L.A. Live in downtown Los Angeles in terms of scope and variety of uses.

Blockbuster Sales Still Strong, Move Ahead in 2015

REAL ESTATE: $100M+ Deals Already Top 2014’s

2015 has the makings of a blockbuster year for large real estate deals, based on the first few months of transactions in Orange County.

Offices Top Priority for Big Investors Here Last Year

Money Shifts From Industrial, Multifamily

Deep-pocketed office investors flocked to Orange County last year looking for attractive investment yields while also betting on the market’s potential for rental growth over the next few years.

Title Work Stumbles in 2014 as Interest Rates Top 4%

New Home, Commercial Pick Up Some of Slack

Business for Orange County’s largest title insurers plummeted last year as refinance activity significantly declined.

Country Club Teed Up for Sale?

127 Acres Along 55 Freeway Could Fetch Up to $250M

A handful of real estate developers have teed up big-dollar bids to gauge members’ interest in selling the Santa Ana Country Club.

Hidden Canyon Sees $50M in Sales in First Month

Toll Brothers Bullish On Irvine, Lake Forest Sites

Hidden Canyon, the newest high-end, new-home community in Irvine, had about $50 million in sales in less than a month after its opening, according to the project’s developer.

Apartments Draw Premium in IBC

REAL ESTATE: $112 million would be highest price since 2013

A spate of apartment development going up on Jamboree Road in Irvine doesn’t appear to be scaring off investors looking for existing complexes in the same area.

OCMA Still Plans Move to Segerstrom Land

ARTS: Sale, price of current location could be trimmed

Plans to relocate the Orange County Museum of Art to a new facility at the Segerstrom Center for the Arts in Costa Mesa are moving forward despite uncertainty over the fate of the museum’s current location in Newport Beach.

HB Shorebreak Hotel Sells for $58.5M

Bethesda, Md.-based DiamondRock Hospitality Co. bought the Shorebreak Hotel in Huntington Beach for $58.5 million, or nearly $373,000 per room.

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