Mark Mueller covers commercial and residential real estate for the Orange County Business Journal. His beat also includes title insurers and mortgage lenders, as well as government stories that relate to real estate. He can be reached at firstname.lastname@example.org.
Phone: 949-833-8373 Extension: 226
Sons, Son-in-Law Help Run Company
Three generations of the Baldwin family have been part of one of the region’s largest homebuilding and real estate development businesses, with operations stretching from San Diego County to Ventura County over the years.
Lease at 520 Newport Ctr. Will Consolidate 2 Sites
Getting an affordable deal on office space at Newport Center’s newest and glitziest tower is unlikely, but if anyone was going to drive a bargain with Irvine Co. for space there, it would probably be a tenant representation brokerage.
REAL ESTATE: Land swap follows IPO, office campus plans
A 250-acre land transaction in the heart of Irvine would be the highlight of the year for most area real estate companies and developers.
REAL ESTATE: Old Register HQ site would become ‘625IVE’
Developer Mike Harrah is pushing ahead with plans for a major redevelopment of the Santa Ana land and buildings previously owned by the former parent company of the Orange County Register after the media company departed the property this year.
$173M for 846 Rentals, Corona Site, Since May
Real estate investor Passco Cos. LLC, one of the fastest-growing private companies in Orange County in the past few years, isn’t showing signs of a slowdown, thanks to a recent active acquisition push inside and outside California.
Econolite Execs Pay $19.8M for New Digs
Econolite Group Inc., a maker of traffic lights and other transportation control systems and one of the region’s oldest companies, has found a new home in Anaheim.
Anaheim is pondering whether to go small—you could say tiny, even—on a housing project under consideration.
Royalty Carpet Mills Inc., a longtime area carpet manufacturer based in Irvine, has closed, as have several affiliated companies.
REAL ESTATE: Also has creative-office project next to JWA
Orange County’s dominant office landlord and the area’s most active office developer over the past four years isn’t resting on its laurels, with both a ground-up development and a creative-office renovation project in the works.
REAL ESTATE: City not keen on more units as 15,000 cap nears
The clock is ticking for residential developers looking to get entitlements for sites in the Irvine Business Complex during the current development boom cycle—and perhaps future cycles.
Few Such Project Developments Horizon Around Airport
The office market in Irvine around John Wayne Airport was the hub of speculative office development during the last building boom, with four office towers adding 55 floors and about 1.4 million square feet to Orange County’s largest base of high-end buildings between 2007 and 2009.
Employment Totals Now Top Prerecession Levels
Orange County’s largest commercial construction companies showed no signs of a slowdown in activity last year as a variety of large private and public-sector projects helped push revenues to a post-recession high.
Plenty Under Way, Less Finished Than Prior Year
Orange County’s top commercial real estate developers kept busy last year with a host of retail, hotel and office projects, although the number of buildings nearing the finish line was smaller than the previous few years.
JV Buys 213-Acre Site in GA With Seal Beach’s Xebec
Newport Beach-based CT Realty Investors has bought its second massive industrial development site in less than a month after closing on land in Atlanta.
REAL ESTATE: Cress Capital Makes 2nd OC Buy in a Year
Sandpointe at MacArthur Place, a two-building office site in the South Coast Metro area of Santa Ana, has been sold to a local investor in a deal that looks to be worth nearly $60 million.
FINANCE: 27 fund affiliates file for bankruptcy
More than two dozen investment fund affiliates of a Laguna Hills-based wealth adviser have filed for bankruptcy amid disclosures that federal and state regulatory authorities are investigating the adviser.
A local commercial real estate investor and developer has unveiled plans for a two-tower commercial development across the street from John Wayne Airport in Irvine.
REAL ESTATE: Old AT&T site last sold in 2014 for $18M
One of the largest offices in downtown Anaheim has sold at a big markup to its prior valuation, the latest sign of revitalization for the area around Anaheim’s city hall.
REAL ESTATE: Ecclestone pays $42.4M for Embassy
A Florida-based hotel investor whose chief executive was one of President Donald Trump’s biggest financial backers during the election cycle has made its second big purchase in the city of Orange.
2 Buys, One Sale There Total More Than $100M
Irvine-based Shopoff Realty Investments has completed two purchases and a sale in Los Angeles County over the past month valued at more than $100 million.
REAL ESTATE: Company’s Irvine lease OC’s largest so far this year
Security software maker Cylance Inc. plans to consolidate its local operations at the soon-to-open 400 Spectrum Center office tower in the Irvine Spectrum.
REAL ESTATE: Pays $18.5M for two-story office on Alton Pkwy.
Edwards Lifesciences Corp. has bought a midsized building next to its headquarters that’s under expansion in Irvine.
Oculus Co-Founder Luckey Buys HB Bay Club
Oculus VR co-founder Palmer Luckey has bought a marina in Huntington Beach.
REAL ESTATE: Two offices at nearly full capacity
Irvine-based Stillwater Investment Group, an investor in office, industrial, apartment and retail properties that began operations in 2014, has made its largest acquisition of the year in one of the most prominent office properties in the city of Riverside.
57,000 SF Site Few Miles From New Karma HQ
Karma Automotive LLC isn’t the only high-end car company making notable real estate moves in the Irvine Spectrum area.
REAL ESTATE: Area’s largest spec building in first phase
Newport Beach-based CT Realty Investors is planning one of the largest speculative industrial developments in Northern California in years after buying a big chunk of land in the Central Valley city of Stockton.
The $443 million sale of Broadcom Ltd.’s campus under construction in Irvine would be Orange County’s biggest office transaction in a decade.
REAL ESTATE: Site just off 5 to hold 300 rooms, rooftop bar
A 3.4-acre site just east of the Santa Ana (5) Freeway in Anaheim is being considered for a four-diamond hotel, the latest luxury hospitality project proposed for the area around the Anaheim Resort district.
Meritage Sells One Gillette Ave. Site, Buys Another
Meritage Homes appears to be a move-up buyer when it comes to development sites on one street in the Irvine Business Complex.
60 Acres in Play for New Homes, Retail Projects
A roughly two-mile stretch of land along Katella Avenue in Anaheim could well be considered the hub of infill redevelopment in Orange County.
FivePoint Communities Inc., the Aliso Viejo-based real estate developer that’s running Irvine’s Great Park Neighborhoods and other large housing projects in the state, completed its initial public offering on Wednesday, raising close to $300 million.
FivePoint Communities Inc. confirmed it is considering buying back the under-construction campus of Broadcom Ltd. at Irvine’s Great Park Neighborhoods.
New Project Would Bring Its Total to 16,341 Beds
The University of California-Irvine is pursuing plans to add another big batch of student housing to its campus.
REAL ESTATE: Builder sees SoCal land as key to raise stock
TRI Pointe Group Inc. has embraced a business-as-usual, California-first approach to its operations following its recent breakup with former majority stakeholder Starwood Capital Group Inc.
Pacific Hospitality Takes Over; Deal Signed in 2016
Irvine’s newest hotel, Park Place’s AC Hotel, has a per-room value topping some of the most established hotels in the area around John Wayne Airport, based on a reading of newly filed property records.
The new owners of the Main Plaza office buildings in Irvine are planning an extensive overhaul of their latest Orange County investment, even after spending nearly $200 million to buy the airport-area towers.
REAL ESTATE: Developer has 37.5% stake in Great Park land
FivePoint Communities Inc.’s transition into a publicly traded company will make its executive team rich and provide plenty of financial cover for the next housing downturn. It should also free up plenty of cash for future real estate acquisitions in and out of Orange County.
FivePoint Communities Inc. could raise nearly $600 million from its forthcoming initial public offering and a trio of concurrent private placement deals, according to new regulatory documents filed with the Securities and Exchange Commission.
ITT Campus Along Dyer Could Get 9 Buildings
Big changes could be in the works for a large industrial property just off the Costa Mesa (55) Freeway in Santa Ana.
FINANCE: Pickup family members boost stake with buy
Local real estate and private equity investors Richard and Todd Pickup have increased their already sizeable stakes in Impac Mortgage Holdings Inc. following a $56 million stock sale by the Irvine-based lender.
1.1M-SF Distribution Center Amid Biggest Here
CenterPoint Properties has closed on the buy of J.C. Penney Co.’s massive logistics and distribution facility in Buena Park in one of the largest industrial sales in Orange County in years.
REAL ESTATE: Offices home to Hyundai, could get $200M
The 4000 MacArthur office complex in Newport Beach is for sale again in what could prove to be Orange County’s largest office transaction so far this year.
REAL ESTATE: Ex-majority owner knocks plan on way out
An eight-year partnership between Irvine-based homebuilder TRI Pointe Group Inc. and its former majority shareholder ended on an unexpected sour note.
REAL ESTATE: Bedford project to hold 1,200+, 400 in 1st phase
The New Home Co. Inc., one of the most active builders on the Irvine Ranch and other area master-planned communities owned by Orange County’s largest landowners, is turning the tables for a new project it has in the works just over the Riverside County line in Corona.
REAL ESTATE: $58M for 19 buildings beside Broadcom
Irvine Company has bought a low-rise office campus in the shadow of Broadcom Ltd.’s new office campus in the Irvine Spectrum.
Sold for $22M in 2010, Now About 82% Full
Mission Viejo’s Kaleidoscope shopping center is for sale.
REAL ESTATE: Latest project planned for site next to mall
Hines Interests LP is the latest big office owner in Orange County looking to add apartment development to its local repertoire.
REAL ESTATE: Revero maker leased last year, but yet to move
Karma Automotive LLC is embracing a lease-to-own strategy, for its local real estate holdings, at least.
First Proposed in ’15, Deal Slowed by Choppy Market
Aliso Viejo-based Five Point Holdings Inc., the master developer of Great Park Neighborhoods in Irvine and other large projects in California, hasn’t abandoned its plans for an initial public offering, according to one of the company’s largest investors.
Top Firms’ Local Accounts Approach 200 Million SF
A dose of development helped Orange County’s largest commercial property managers grow their local portfolios for the fifth straight year.