Orange County Business Journal

Newport Sports Museum Office Sells for Top Price

Museum Closed in 2014, Sells for Nearly $1,500/SF

An office near Fashion Island shopping center that previously held the Newport Sports Museum has sold for what looks to be one of the highest recent prices for an office deal in Orange County per square foot.

KBS Lands SF Tower, Redmond Business Parks

REAL ESTATE: $300M spree follows bond deal in Israel

A real estate investment trust run by Newport Beach-based KBS Realty Advisors, fresh off a $250 million bond offering in Israel, has made plans to spend nearly $300 million on an office property in downtown San Francisco and a portfolio of business parks in the suburbs of Seattle.

Deal Signal of Irvine Co. Shopping Spree?

REAL ESTATE: $1B CMBS offering could precede some big property buys

A new billion-dollar funding deal involving a portion of Irvine Company’s apartment portfolio raises the prospect that Orange County’s dominant real estate company could soon be on the lookout for acquisitions.

Government Office in Orange Gets Top Dollar in Sale

$61 Million for Building Near Mall, Leased to FBI

The 4000 Metropolitan Drive office in Orange, a 183,000-square-foot building just off the Garden Grove (22) Freeway near the Outlets at Orange shopping center, has traded hands for the third time in six years in one of the largest local office sales so far this year.

Whole 9 for Anaheim Resort Hotel Market

Nexus’ Plan for 350-Room Entry on Katella Latest on Drawing Board

Nexus Development Corp. is the latest in a growing list of companies looking to build a hotel in the Anaheim Resort Area.

Smartphone Case Maker Spigen Plans Spectrum Buy

Irvine Unit of Korean Firm To Pay $13.2M for Office

Spigen Inc., an Irvine-based maker of smartphone cases, screen protectors and related accessories, appears to be expanding its local operations after entering into a deal to buy an office in the Spectrum area.

FivePoint’s Next Step: Commercial Landlord

REAL ESTATE: New structure takes in projects from here to Bay Area

Aliso Viejo-based master developer FivePoint Holdings LLC is planning the next step in its evolution: becoming one of Orange County’s largest commercial real estate landlords.

Thriving Spectrum Office Market Braces for Changes

Broadcom, Toshiba Sites Among Offices in Play

The Irvine Spectrum office market is by most measures the best-performing submarket in Orange County these days: Empty space is scarce, a flock of new and expanding companies call the area home, rents are rising, and new development is in full bloom.

Olen Steps Up in Airport Area, Pays $44.8M for Office Park

Newport Beach-based real estate investor and developer Olen Properties Corp. has made its largest local purchase in nearly three years, buying a 15-building office park near John Wayne Airport.

Greenwave Grows Into Full Floor at Spectrum Showplace

Irvine-based smart technology company Greenwave Systems Inc., Orange County’s biggest recipient of venture capital funding this year to date, has signed a deal to move its headquarters to 200 Spectrum Center, the area’s newest office tower.

New Great Park Home Phase to Start Early 2017

REAL ESTATE: 727-home project to feature six builders

The developer of Great Park Neighborhoods in Irvine is planning to launch its next phase of home development in early 2017.

JWA-Area Office Deal Priciest of Year at $66M

REAL ESTATE: Georgia-based REIT also sells Brea property

Piedmont Office Realty Trust Inc. has sold its two Orange County office properties—in Irvine and Brea—for a combined $100 million.

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FivePoint Completes Restructuring

Aliso Viejo-based FivePoint Communities Inc. completed a reorganization that gives it ownership of four of California’s largest master-planned communities, including Irvine’s Great Park Neighborhoods.

$630M Bet Makes Bascom Biggest Landlord in Vegas

REAL ESTATE: Irvine-based investor adds 4,918 units at 15 complexes

Irvine-based apartment investor Bascom Group LLC has made the largest acquisition in its 20-year history, landing a nearly 5,000-unit portfolio of rental properties in and around Las Vegas.

Harrah Eyes Office Conversion, Hotel in Santa Ana

Plans Come Amid $34M Buy Near Register

"Big Mike” Harrah doesn’t do small when it comes to development plans in Santa Ana.

Caltrans to Leave Irvine for New Santa Ana Digs

REAL ESTATE: 130,000-SF lease fills out State Fund building

The California Department of Transportation is moving its local operations from Irvine to Santa Ana after signing one of the largest new office leases reported in Orange County so far this year.

Supplement Maker Expected to Buy Santa Ana Space

Part of Rexford-CTR Deal Could Sell for $18.7M

One of five Orange County industrial buildings acquired by Rexford Industrial Realty Trust Inc. as part of a $191 million portfolio deal might not stay under the ownership of the Los Angeles-based investor for too long.

Big Media for Big Mike in Register Deal

Harrah Got Presses, Trucks Along With Land; Aims to Foster Media Hub, Add Condo Towers, Hotel

Mike Harrah’s investment in the former assets of the Orange County Register appears to have given the longtime Santa Ana real estate owner, developer and philanthropist a new calling card: local media mogul.

Big Media for Big Mike in Register Deal

Harrah Got Presses, Trucks Along With Land; Aims to Foster Media Hub, Add Condo Towers, Hotel

Mike Harrah’s investment in the former assets of the Orange County Register appears to have given the longtime Santa Ana real estate owner, developer and philanthropist a new calling card: local media mogul.

CapRock Adds Anaheim Office Park to Portfolio

REAL ESTATE: $30M buy as firm wraps up Tustin project

An Irvine-based commercial real estate firm with a growing investment and development pipeline in Southern California has made its largest-ever acquisition in Orange County, picking up an office park in Anaheim.

Toshiba’s 26-Acre Campus on Market

REAL ESTATE: Plans to sell land in Spectrum, lease elsewhere in OC

Toshiba Corp. is putting its massive Irvine office facility on the market and looking for space to lease elsewhere in Orange County.

CT Sells Chunk of OC Industrial in $191M Deal

REAL ESTATE: Five of nine properties Rexford gets are here

Newport Beach-based CT Realty Investors is selling a portion of its industrial real estate holdings in Orange County as part of a $191 million portfolio deal with a real estate investment trust.

Stall on IPOs Feels Different in OC

ECONOMY: Choppy market has some on hold; others seek sales

Orange County’s roster of locally based public companies with billion-dollar valuations isn’t getting much help when it comes to offsetting some high-profile departures.

KBS Goes to Israel For Public Listing Of REIT’s Bonds

REAL ESTATE: Raises $250M with debt-based offering in Tel Aviv

A nontraded real estate investment trust run by Newport Beach-based KBS Realty Advisors has taken a unique track for going public, raising nearly $250 million through a bond offering in Israel.

Obey Investor Snaps Up Industrial Building in IBC

79K SF Building Sells For $11.8M; Move Planned

An investor with ties to Irvine-based Obey Clothing has bought an industrial facility close to one of the apparel maker’s facilities near John Wayne Airport.

Broadcom Buildings on Block?

Real Estate Sources Expect Sales Effort; FivePoint Comfortable With Contingencies

Broadcom Ltd. is exploring a sale of one or more buildings now under construction at its new office campus at the Great Park Neighborhoods development site in Irvine, according to real estate sources.

Phoenix Builder Grows Pipeline With $55M Buy

REAL ESTATE: May get most of biggest Santa Ana mixed-use project

Alliance Residential, a Phoenix-based apartment investor and builder with a growing pipeline of projects in Orange County, has bought a portion of the largest mixed-use development planned in Santa Ana.

Top Property Managers Grow OC Accounts for 4th Year

5M SF of Buildings Added Over Past Two Years

Orange County’s largest commercial property managers’ local portfolios grew modestly over the past year as they made larger gains outside the area.

Lincoln Adds Small Offices to Mix of Tustin Campus

Lincoln Adds Small Offices to Mix of Tustin Campus

A batch of small for-lease buildings are being added to the mix at the Tustin Legacy development, Orange County’s first ground-up creative-office campus.

Burnham Adds Office to Lido Marina Village Assets

Deal With DJM Follows Olen Office, Land Deal

Two real estate owners behind much of the redevelopment now under way in the Lido Marina Village area of Newport Beach have traded one of the bigger office buildings there.

Brokers Boost Sales, Leases for Sixth Year of Gains

Investment Sales Help Push Up Total By 16%

Increased property sales volume, particularly for larger buildings and land sites, in addition to gains in leasing activity, resulted in another strong year for Orange County’s largest commercial brokerages.

Chinese Buyers Want More Than Big Houses

Developers, Backers Buy Into Commercial Market

Beijing-based Anbang Insurance Group Co.’s bid to buy two of Orange County’s premier resort properties—Montage Laguna Beach and The Ritz-Carlton, Laguna Niguel—as part of a larger national portfolio deal marks a new high-water mark in Chinese companies’ recent investment push into the area’s commercial real estate sector.

Is 'Timeless' Timely in Newport Center?

Developers of Luxe Condos Proposed for Car Wash Site Have Jump on Entitlements

The owners of the Newport Beach Car Wash are looking to make their mark on Newport Center’s residential market with an upscale housing project that aims to become what they call “a work of public art.”

CT Realty Gets 25 Acres in Aliso Viejo

REAL ESTATE: Estimated $33.6M price; 500,000-SF, medical emphasis

The U.S. Postal Service has completed the sale of one of the last big parcels of developable commercial land in Aliso Viejo, which is now slated for a mixed-use property emphasizing medical uses that will total more than 500,000 square feet.

Apparel Co. TravisMathew to Quiksilver’s Old HQ

REAL ESTATE: Expands into Surf City creative-office space

Apparel maker TravisMathew LLC is moving its headquarters to a larger facility in Huntington Beach that previously served as the home of Quiksilver Inc.

San Clemente’s Largest Office Sells to LA Investor

$14.2M Sales Price Is Discount on 2007 Trade

The largest office building in San Clemente has been sold to a Los Angeles-based value-add investor.

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William Lyon Homes Makes Management Changes

William Lyon Homes has announced a series of executive management changes to the Newport Beach-based homebuilder, including a new role for the company’s namesake and founder, General William Lyon, as well as a new stand-alone chief executive.

LBA Sheds More Light on 9-Acre Mixed-Use Project

REAL ESTATE: 423,000 SF of space across from Park Place

LBA Realty Inc. has disclosed more details, plus early-stage renderings, of the mixed-use campus it’s targeting for a 9.4-acre site at the intersection of Jamboree Road and Michelson Drive in Irvine.

Greenlaw Plans Rentals, Hotel Near Outlets Mall

REAL ESTATE: For-sale project in IBC also on developer’s agenda

Real estate investor and developer Greenlaw Partners is pushing ahead with plans to build more than 900 apartments and for-sale homes and a hotel in separate projects on land it owns in Orange and Irvine.

Volt Campus in Orange to Hines JV for $36 Million

REAL ESTATE: 15-year leaseback planned for office

The Irvine office of real estate developer and investor Hines Interests LP has made its first purchase in the city of Orange, picking up the office campus of Volt Information Sciences Inc.

Church Site in Orange Sold for Luxe Home Project

New Home Co. Uses Land Banker for Marywood Buy

The Roman Catholic Diocese of Orange has completed the sale of its former administrative headquarters in Orange, which is slated to be turned into a residential development by Aliso Viejo-based New Home Co.

OC’s Top Deals Double in 2015 to Cumulative $3.6B

Creative-Office Trend Up, Distressed Deals Down

Local investors turned their attention to large fixer-upper properties across Orange County last year as insurance companies looking to invest here largely placed their money in more stabilized assets in a banner year of dealmaking.

Disney Proposes Parking, Transport Adds at Resort

AMUSEMENT: Upgrades anticipate Star Wars Land

Walt Disney Co. is planning major upgrades to its parking and transportation facilities at Disneyland Resort in Anaheim in preparation for the opening of its soon-to-start Star Wars Land expansion project.

Title Insurance Work Picked Up Steam Last Year

43% Increase on Gains In Home, Commercial Work

Orange County’s largest title insurers’ business picked up last year, and they’re preparing for another active year in transaction volume and potential industry consolidation.

520 Newport Center Gets Topper With Tarsadia Lease

REAL ESTATE: Buzz over deal hums around $8.50 PSF mark

A Newport Beach-based investment firm with ties to the area’s hospitality industry has signed a deal to lease the top floor of Irvine Company’s 520 Newport Center Drive office tower in what looks to be Orange County’s priciest-ever office lease.

Masimo’s New Irvine Space Leads to Musical Chairs

Boot Barn HQ, Printronix Office Also Part of Move

An expansion of Masimo Corp.’s local facilities appears to have set off a chain reaction of corporate relocations in the Irvine Spectrum area involving Boot Barn Holdings Inc. and Printronix Inc.

Landsea Pays $186M For Silicon Valley Infill Site

REAL ESTATE: Recent arrival to OC plans 450 townhomes on 25 acres

Landsea Holdings Corp., OC’s newest homebuilder, has made its largest purchase to date for an infill housing development in Silicon Valley.

Birtcher Anderson Back as Buyer with Portfolio Deal

Gets 18-Building Package in NorCal for $64M

San Juan Capistrano-based real estate investor Birtcher Anderson Realty has made its largest purchase in several years, picking up a portfolio of light industrial and flex buildings in Northern California.

Big Move For Big-Data Firm

TECHNOLOGY: VC-backed Alteryx to Park Place, plans 100 hires

Analytics software maker Alteryx Inc. has signed a deal to move its headquarters to an office at the Park Place campus in Irvine, a shift that will accommodate the venture capital-backed technology company’s plan to double its local workforce.

Plaza Tower Adds Services Firms, Designer to Mix

New Porsche Group HQ Joins Morgan Lewis, BDO

Plaza Tower in Costa Mesa, the best-known building in the office market near South Coast Plaza, has gotten a trio of new and expanding tenants that are taking more than 60,000 square feet of space combined.

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