Orange County Business Journal

Olson Takes It Up a Notch in Spectrum

Full-Service Marriott Cost to Top $100M, Get $300+ a Night

R.D. Olson Development is going upscale—and tall—with its latest hotel project in the Irvine Spectrum.

CT Realty, Xebec Start Work at Dallas Mega-Center

530-Acre Industrial Site, 3.8M SF Eyed for 1st Phase

A venture headed by Aliso Viejo-based CT Realty and Seal Beach-based Xebec Realty Partners has kicked off construction of one of the largest industrial developments currently on the books in the U.S. at a site they own in Texas.

Quintana Sale Sets New Benchmark in Airport Area

REAL ESTATE: More deals likely as high end of office market heats up

A five-story office on the former Washington Mutual Inc. campus in Irvine has traded hands for nearly three times its value of five years ago.

Standard Pacific Could Skip Irvine, Rest of Golden State on HQ

REAL ESTATE: Combo with Ryland would create 4th largest homebuilder

Standard Pacific Corp.’s long run as the largest homebuilder based in Orange County could come to an end once the company’s pending acquisition of Ryland Group Inc. is complete.

Michelson to Anchor REIT on Singapore Exchange

REAL ESTATE: Trophy office value estimated at $310M

The Michelson office tower in Irvine, which traded hands three years ago in what’s believed to be the priciest single-building office sale ever in Orange County, is about to get a lot more interest from Asian investors.

Dana Point Land Sells, Slated for Townhomes

REAL ESTATE: Zephyr plans 168 units for land along PCH

Zephyr Partners, an Encinitas-based real estate development and investment company, has picked up a 9-acre site in Dana Point where it’s planning its first big residential project in Orange County.

Broadcom Buyer to Sell Emulex HQ

REAL ESTATE: Shift to Irvine from Costa Mesa looks to be Avago’s plan

The new owner of Emulex Corp. has put the networking equipment maker’s Costa Mesa headquarters campus up for sale, paving the way for local operations to be eventually relocated to Irvine, where it has a $37 billion acquisition of Broadcom Corp. pending.

Goodman Birtcher Inks Paper Company for IE Lease

Georgia-Pacific Takes 1.6M-SF Logistics Center

Irvine-based developer Goodman Birtcher has signed one of the largest industrial leases in Southern California in years for a logistics center it’s building in Rancho Cucamonga.

Ingram Micro HQ Complex Changes Hands

REAL ESTATE: Likely fetches $40M-plus from local buyer

The Santa Ana office complex that holds the soon-to-be former headquarters of Ingram Micro Inc. has traded hands.

Great Far East Adds in Airport Area on Colton Plaza Buy

REAL ESTATE: Two offices not part of talks on teardowns for apartments

Great Far East Inc.—a local commercial real estate investor with funding from China—has bought a portion of the Colton Plaza office campus that is next to John Wayne Airport.

Fringe to Frontline: Deals Add Up Near Tustin Legacy

Developers Eye Sites Next to Former Air Station

This month’s opening of the 375-home Greenwood project near Jamboree Road and the District at Tustin Legacy shopping center marks another notable chapter in the redevelopment of the nearly 1,500-acre former military site.

OC Developers Double Down on Openings, Backlog

2 Million Square Feet Finished, Most Here Since 2008

Orange County’s top commercial developers nearly doubled the number of completed projects in the region in the past year while pushing their backlog of active projects to a level not reached since the last real estate boom.

Smaller Projects Help Construction Firms Post Growth

Jobs, Backlogs Up Despite Few Mega Local Deals

Orange County’s largest commercial construction companies had solid growth in revenue, jobs, and work backlogs last year, despite a relatively small number of mega projects to call their own.

Packing House Adds to PRES Portfolio in North OC

Yorba Linda Purchase Estimated at $32 Million

Irvine-based real estate investor PRES Cos. has made another large acquisition in North Orange County.

CT Realty Buys Palm Terrace Offices in Lake Forest

3-Building Campus Holds Del Taco Headquarters

A three-building office complex in Lake Forest that holds the headquarters of Del Taco Holdings Inc. has been sold to a local investment group.

Irvine Co. Expands on Wellness Center Concept in NB

REAL ESTATE: Plans medical office, fitness center

The Irvine Company plans to build a fitness, wellness and healthcare facility in space it owns at the current site of a 24 Hour Fitness gym next to Fashion Island.

Vans to Put Brand on South Coast Metro

REAL ESTATE: 180,000-SF office comes with 15 extra acres

An affiliate of apparel company Vans Inc. is under contract to buy the 1588 South Coast Drive office building in Costa Mesa.

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New Home Co. Cofounder Davis Stepping Down

Joe Davis, chief investment officer and cofounder of The New Home Co., is stepping down from the Aliso Viejo-based homebuilder.

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MicroVention Building New HQ in Aliso Viejo

MicroVention Inc., a Tustin-based developer, manufacturer and marketer of neuroendovascular technologies, said it will be building a large new office in Aliso Viejo for its new headquarters.

Taylor Morrison Buys Pacifica San Juan Site

REAL ESTATE: 194 acres could hold small, estate lots

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

Olen Adds 2 Arizona Complexes to Rental Portfolio

Buys One Mesa Complex, Another Deal on the Way

Olen Properties Corp. is making a $78 million investment in Arizona’s multifamily market.

No Tenants, No Problem as Quintana Draws Buyer

REAL ESTATE: Scarce area office campus with empty space

One of the few large office campuses near John Wayne Airport with a significant amount of vacancy is up for sale and expected to draw plenty of interest from investors looking to take advantage of Orange County’s improving office market.

Office Sale Gives Offshore Trend Korean Flavor

REAL ESTATE: New owners add to ethnic enclave here

One of the larger multitenant office complexes in Buena Park has traded hands in the latest notable Orange County commercial real estate deal involving investors from Asia.

Fairhaven Memorial in Santa Ana to Dallas Buyer

REAL ESTATE: Deal includes 2 other funeral homes in area

Fairhaven Memorial Park and Mortuary in Santa Ana—one of Orange County’s largest and oldest cemeteries—has been sold to one of the country’s biggest providers of funeral services.

Fairhaven Memorial in Santa Ana to Dallas Buyer

REAL ESTATE: Deal includes 2 other funeral homes in area

Fairhaven Memorial Park and Mortuary in Santa Ana—one of Orange County’s largest and oldest cemeteries—has been sold to one of the country’s biggest providers of funeral services.

Taylor Morrison Buys Pacifica San Juan Site

REAL ESTATE: 194 acres could hold small, estate lots

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

Olen Adds 2 Arizona Complexes to Rental Portfolio

Buys One Mesa Complex, Another Deal on the Way

Olen Properties Corp. is making a $78 million investment in Arizona’s multifamily market.

Office Sale Gives Offshore Trend Korean Flavor

REAL ESTATE: New owners add to ethnic enclave here

One of the larger multitenant office complexes in Buena Park has traded hands in the latest notable Orange County commercial real estate deal involving investors from Asia.

Deal Ups Platinum Triangle Rental Value

REAL ESTATE: $269M for Katella sites would set mark for sales in area

Highlands Ranch, Colo.-based apartment developer and investor UDR Inc. has entered into a deal in which it could spend $269 million to take over ownership of two rental complexes under construction in the Platinum Triangle.

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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.

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.

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.

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.

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.

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.

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.

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.

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.

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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.

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.

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.

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.

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.

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.

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