Orange County Business Journal

Deloitte Renews Lease at Park Tower in Costa Mesa

OC’s Largest Accountancy Takes Smaller Space

Deloitte LLP, the largest accounting firm in Orange County by employee count, has re-upped the lease on its local offices in Costa Mesa.

Tall Reputation, Top Rents at 200 Spectrum

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.

San Jose Investor Buys Surf City Rentals for $60M

REAL ESTATE: Complex 2nd recent deal for Saratoga

An apartment investor in Silicon Valley has snapped up a big rental complex in Huntington Beach, extending its acquisition push in Orange County since the start of the summer past the $130 million mark.

Manulife Adds Irvine Office to Airport-Area Holdings

17911 Von Karman Likely Sells for $33M+

Financial services company Manulife Financial Corp. has added another office to its real estate investment portfolio near John Wayne Airport.

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Shopoff Realty Buys in Las Vegas, Chicago Top $100M

Shopoff Realty Investments in Irvine has paid in excess of $100 million for an apartment complex in Las Vegas and a pair of commercial buildings in Chicago.

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Bascom Sells Denver Apts for $350M

Bascom Group LLC in Irvine has sold one of its larger apartment properties, a 1,523-unit complex in Denver, in what local reports said is the priciest deal for a rental property in that city.

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Platinum Triangle Developer in $255M JV with China Fund

The Texas developer planning to build one of the larger apartment complexes in Anaheim’s Platinum Triangle has entered into a $255 million venture with a private equity fund from China to finance the project.

Hines Adds Land to Raytheon Campus Holdings

Follows 2012 Deal for 2 Offices at Fullerton Site

The local division of Houston-based Hines Interest LP has bought the ground under one of its larger Orange County office properties.

Curious Commodity Case Crops Up in Irvine

REAL ESTATE: Building on Main in ‘brazen scheme’ on aluminum?

An unassuming industrial building in the heart of the Irvine Business Complex appears to be playing a part in an international trade caper that purportedly stretches from China to New Jersey to a desert in Mexico.

The Dirt at One Broadway

Harrah Mum on Tenants, Puts 28-Month Timeline on 37-Story Tower

One Broadway Plaza, the long proposed 37-story Santa Ana office tower that would be Orange County’s tallest building, is slated to approach nearly 500 feet when it’s built.

Shopoff Eyes Residential In Downtown Anaheim

REAL ESTATE: 21-acre industrial property would get 500+ units

Shopoff Realty Investments is looking to convert a nearly 21-acre industrial property in downtown Anaheim into a major residential development with more than 500 homes, townhomes and apartments.

TA Realty’s South Coast Metro Offices Up for Sale

Sandpointe Offices Hold Universal Electronics HQ

Boston-based TA Realty has put up for sale a pair of eight-story offices it owns in the South Coast Metro area of Santa Ana, according to area brokers.

Amazon’s Prime Now Sets Up Near Airport

REAL ESTATE: 170,000 SF to support 2-hour delivery program has quietly signed a lease for an industrial building not far from John Wayne Airport that appears poised to be a linchpin in the online retailer’s growing base of same-day delivery services in the area.

LBA Nears Sale Of Industrial for $1.5B

REAL ESTATE: Blackstone under contract to buy nearly 50 buildings

Irvine-based real estate investor LBA Realty is close to making its largest deal in more than a decade with a blockbuster sale of a large portion of its industrial portfolio.

Developer Takes On ‘Rusty Skeleton’

REAL ESTATE: Stalled project seen as senior housing, retail

A land development company in Los Angeles County has bought the “Rusty Skeleton,” a long-abandoned construction site in Garden Grove that it plans to turn into a senior housing and retail project.

Lennar Preps New Homes at Great Park Neighborhoods

Some Parasol Park Homes To Open in November

The first batch of home sales at Great Park Neighborhoods’ Parasol Park in Irvine appears to be kicking off a few months earlier than initially expected.

CalSTRS Gets Rockwell as Tenant in Irvine

REAL ESTATE: Hines, Oaktree sell for more than $60M

A San Francisco-based investor backed by funds from the California State Teachers’ Retirement System has bought a two-building office complex in Irvine in a deal believed to have topped $60 million.

Mobilitie Looks Good For Ride in Fast Lane

TECHNOLOGY: Potential deal with Sprint promises more growth

You could say that Mobilitie LLC moved up a weight class among Orange County’s private companies last year.

Anaheim Nears Sale of 25 Acres for Retail

REAL ESTATE: Zelman eyes 300,000 SF near Knott’s

The city of Anaheim is moving forward on plans to sell a long-vacant, 25-acre site on its western side to a retail developer.

Angels Push Back on Mixed-Use Plan Near Stadium

LT Global Awaits City EIR Decision, Council Vote

It looks like the biggest battle the sputtering Los Angeles Angels of Anaheim will have on their hands over the next few months will involve potential development of a 14.8-acre site next to their stadium.

Hong Kong Firm Nabs IBC Residential Site

REAL ESTATE: 371 apartments eyed for St. John Knits buildings

A Hong Kong-based company that bills itself as a business incubator and investor in early-stage technology companies has taken a more down-to-earth approach with its first reported deal in Orange County: a land buy for a big apartment development in Irvine.

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New Top Exec at Goodman Birtcher

Brandon Birtcher is no longer the chief executive of Irvine-based Goodman Birtcher, according to the industrial developer’s Australian parent company.

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First American Buying Title Insurance Research Firm

Santa Ana-based First American Financial Corp. is under contract to buy a New Jersey-based title insurance and real estate research firm on undisclosed terms.

$150M Sale of MV Medical Offices Sets Benchmark

REAL ESTATE: 4 buildings near Mission Hospital total 263,000 SF

A four-building collection of medical office properties surrounding Mission Hospital in Mission Viejo has changed hands for the second time since 2014 in what looks to be Orange County’s biggest office sale so far this year.

ARES Spends Close to $100M for Fullerton Rentals

REAL ESTATE: To renovate 421 units built in 1972, add 40

Irvine-based apartment investor Advanced Real Estate Services Inc. has made one of the largest local property buys of the year, for a 421-unit rental complex in Fullerton.

Angelo Gordon Leads $30M Laguna Hills Office Buy

REAL ESTATE: Deal retains Lincoln Property as investor

A recently renovated four-story office just off the San Diego (I-5) Freeway in Laguna Hills has a new owner.

Donahue Schriber Makes Retail Buy in ‘Silicon Forest’

New Beaverton Center Trades for Reported $101M

Costa Mesa-based shopping center owner and developer Donahue Schriber Realty Group has paid top dollar for a recently built property just outside Portland, Ore.

Logistics Outfit Goes Big on North OC Industrial in HQ Shift

REAL ESTATE: 441,000-SF deal in Fullerton biggest lease this year

Third-party logistics services provider 3PL Global LLC is expanding its Orange County presence and shifting its headquarters to Fullerton after signing the largest industrial lease here this year.

TRI Pointe Plans Townhomes at Nabisco Site

REAL ESTATE: Buena Park land bought from City Ventures

Irvine-based homebuilder TRI Pointe Group Inc. has taken over ownership of a prominent residential development site in Buena Park that previously held a Nabisco food manufacturing facility.

Shopoff Sees Long Haul on Redevelopment in HB

REAL ESTATE: Parcel along coast goes for $925,000 per acre

Bill Shopoff’s largest local acquisition in over five years—a former oil storage facility in Huntington Beach—could prove to be the most challenging entitlement project yet for the Irvine-based real estate investor and developer.

Dallas Buyer Gets Laguna Design Center for $53.7M

Colton Co. Paid $21.5M For Retail Property in 2000

Dallas-based retail property investor Dunhill Partners Inc. has bought a shopping center in Laguna Hills that caters to high-end design and home-furnishing tenants.

Cambria Hotel Eyed for Anaheim to be Chain’s Largest

350-Room Project On Katella to Run 12 Stories

A limited-service hotel planned for the Anaheim site near the Disneyland Resort that once held The Boogie nightclub appears to be getting much taller than initially envisioned.

New Home Co. Expands Into San Diego

REAL ESTATE: Also grows within OC with Brea project

New Home Co. has bought land for its first homebuilding project in San Diego, and is also expanding its reach in Orange County through a new project at the La Floresta development in Brea.

Karma’s Road to Revival Starts in Spectrum

REAL ESTATE: 262,000 SF for executive offices, direct sales center

Karma Automotive LLC will move the bulk of its local operations and establish a new direct sales center in a building in Irvine whose design is expected to echo the company’s cutting-edge technology.

Pacific City Sale Tops Chart For OC Retail

REAL ESTATE: Values new center in Huntington Beach at $970 PSF

It took the Pacific City shopping center in Huntington Beach less than a year to claim a spot among Orange County’s most valuable retail properties.

Milan Capital Buys in LB, Sells in Anaheim

REAL ESTATE: Park Tower office trades for close to $26M

Milan Capital Management, an Anaheim-based commercial real estate investor, has bought an office tower in Long Beach and sold an office in its hometown in two deals topping $50 million together.

Huntington Beach Luxe Rentals Sell For Top Dollar

REAL ESTATE: New complex moves for estimated $131 million

A newly built apartment complex in Huntington Beach has a new owner in a deal that appears to set a high-water mark for pricing in Orange County’s hot multifamily market.

SmartStop Pursues New $1B REIT, Opens Local Gym

New Fund Would Be Its Fourth Since 2008

Ladera Ranch-based SmartStop Asset Management LLC is looking raise more than $1 billion to fund another batch of self-storage facility acquisitions across the country as it takes the wraps off of a new development in its hometown.

OC Class A Rents Hit $3 Mark for 1st Time Since ’08

Up 42% From Bottom, More Increases Anticipated

It’s taken eight long years, but Orange County’s office market is now back to prerecession levels by one key metric: asking rents.

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NextVR Completes $80M Funding

Laguna Beach-based virtual reality content maker NextVR Inc. said it has completed an $80 million round of funding, led by a syndicate of Asian technology companies.

Apartment Push Gives Rentals Edge in Irvine Ratio

More Rentals Than Owner Units, JLL Reports Shows

The city of Irvine remains the hub of homebuilding in Orange County through development of Great Park Neighborhoods and the Irvine Ranch, but an even faster construction push in the multifamily sector over the past decade has given rental units majority status in OC’s fastest-growing city, according to new brokerage data.

Mortgage Firm Strikes Big Lease At Old Ingram HQ

REAL ESTATE: Greenlight parent takes 150,000 SF in Santa Ana

The parent company of Greenlight Financial Services, a mortgage company with sizeable operations in Orange County, has struck a deal to relocate much of its local employee base to Santa Ana in what looks to be a blockbuster office lease.

Cigna Deal for Offices in Orange Tops $100M

REAL ESTATE: Trio adjacent to Outlets, Christ Cathedral

A trio of office properties near the Outlets at Orange shopping center—along with adjacent land that’s expected to hold a host of apartments—has new ownership after a deal valued in excess of $100 million.

Koll Co. Makes Phoenix Splash With $75M Buy

Irvine-based Koll Co. has made its largest purchase in nearly five years, picking up a massive logistics and distribution center in Phoenix.

The Triangle Center Seeks New Owner

REAL ESTATE: Costa Mesa hub of ‘destination’ tenants

The Triangle, the once-troubled Costa Mesa mall that’s been converted into a thriving entertainment and restaurant center over the past few years, is for sale.

Harrah Gets Case of Double Vision

Michael Harrah’s long-awaited One Broadway office tower in Santa Ana has always been expected to eventually become the commercial real estate developer and owner’s crowning local achievement.

Monster Buy Of Yorba Linda Offices

REAL ESTATE: Energy drink execs pay $95M for Savi Tech Center

The wealthy local duo that runs Corona-based Monster Beverage Corp. has bought Yorba Linda’s biggest office complex in one of the largest property sales so far this year in Orange County.

Luxe Retirement Project in Costa Mesa to Expand

Nexus Cos.’ Vivante To Add Another 111 Units

Vivante on the Coast, a high-end retirement community near Hoag Memorial Hospital Presbyterian in Newport Beach, is expanding.

RIP: John O’Donnell, Seminal Industrial Developer

John O’Donnell, a pioneering Newport Beach real estate executive whose companies oversaw a massive industrial development push from Alaska to Mexico over a 40-year period, died last week.

RSI Communities Bigger in Texas

REAL ESTATE: Gets land for 780 homes in San Antonio

RSI Communities LLC has begun to ramp up land deals in preparation for a big homebuilding push outside California.

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