Orange County Business Journal

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.

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.

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.

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.

Rentals Go for $164M, Top Deal Since 2010

REAL ESTATE: 628 units to Raintree Partners, $260K each

Laguna Niguel-based apartment and mixed-use property owner and developer Raintree Partners has bought a rental complex in Tustin in what appears to be the priciest apartment deal in Orange County in nearly six years.

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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TIAA Takes Pacific City Stake

Huntington Beach’s Pacific City shopping center has seen a change in ownership.

Invesco’s Aliso Holdings Top $200M With Latest Buy

UST Global Offices Sold By LBA for About $33M

Dallas-based institutional investor Invesco Real Estate has added another big office in Aliso Viejo to its portfolio, its third reported purchase in the city in a little over a year.

Panattoni Puts New Anaheim Industrial Up for Sale

REAL ESTATE: Said to seek $200M for 7 buildings near 91

Panattoni Development Co. has put nearly a million square feet of its recently built industrial center in Anaheim on the sales block.

Trammell Crow Gets ‘Real’ With Boardwalk Plan

REAL ESTATE: 545,000 SF office takes shape on Jamboree

The largest office development planned for the market around John Wayne Airport in over a decade has moved from a concept to reality.

FivePoint’s Capital $B

Report by Main Investor Lennar Gives Perspective On Aliso Viejo-Based Developer’s Valuation

­­FivePoint Communities Inc. can safely join the ranks of Orange County’s billion-dollar companies in terms of its valuation.

Creative-Office Makeover Draws SpaceX Outpost

REAL ESTATE: Would-be pioneer seeks engineers here

Elon Musk’s SpaceX has touched down in Irvine.

Young’s New Venture Features Broad View of Big Projects

REAL ESTATE: Former Irvine Co. exec on to own deal with Camino

Dan Young plans to go big with his next development venture.

RMV Development Picks Six for Next Home Phase

4 OC-Based Builders In Mix for 522-Home Project

Rancho Mission Viejo LLC has announced the builders who will be selling the next set of homes at its massive development under way in South Orange County.

Fintech Firm Brings Mercedes Tie To ‘Next Gen’ Campus

REAL ESTATE: 1st tenant at spec development takes 27,000 square feet

Irvine Company has landed a startup financial technology company with a brand-name backer as the first tenant at a pair of buildings the landlord is putting up at its Sand Canyon Business Center office campus.

Toll’s Irvine Land Spree Continues in Orchard Hills

REAL ESTATE: Pays about $200M for nearly 161 acres

Toll Brothers Inc. has completed the purchase of a sizeable parcel of developable land at the Orchard Hills community in Irvine, adding to the company’s collection of high-end home sites in the city.

Lincoln Property’s Top OC Exec Starts Own Firm

REAL ESTATE: Plans initial focus on office, retail projects

Kevin Hayes, the head of Lincoln Property Co.’s sizeable Orange County operations, has left the Dallas-based real estate investor and developer to start his own firm.

Even More Of A Family Matter On Mariner’s Mile

REAL ESTATE: Duffy parcel now in Moshayedis’ Coast Highway portfolio

The biggest property owners in the Mariner’s Mile area of Newport Beach have added another notable—and pricey—waterfront site as they continue an effort to revamp the high-traffic area.

OC Firm with USC Ties Has Big Plans Near Campus

Trojan QB’s Firm Eyeing 3.3 Acres Near Stadium

Spectrum Group Real Estate, an Irvine-based real estate investment and development management firm whose execs have connections to the University of Southern California, is planning to build a sizeable mixed-use property not far from the school’s campus south of downtown Los Angeles.

Western Growers Moves HQ in Irvine Following Sale

Zion’s $8.2M Buy Comes With Plans for Nonprofits

Western Growers Association, a trade association that represents farmers in California, Arizona and Colorado, has sold its Irvine headquarters near John Wayne Airport and relocated to another spot in the city.

Off-the-Grid Project to Help Power Park Place

REAL ESTATE: Capacity for equivalent of 1,300 homes

The latest upgrade to the Park Place mixed-use campus in Irvine is taking place behind the scenes, and in clean-energy jargon, behind the meter.

Olson Goes to Hollywood

Aims to Follow Paséa, Spectrum Marriott With Art Deco Entry in LA

A 21-story, art deco-inspired hotel planned for the heart of Hollywood marks the latest chapter in R.D. Olson Development’s recent push into the high end of the hospitality market.

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PHG in Deals for AC Irvine, Tempe

An affiliate of Irvine’s Pacific Hospitality Group is in deals for two AC Hotels—a 176-room property currently under construction at the Park Place mixed-use campus near John Wayne Airport and a recently opened location in Tempe, Ariz.—from Woodbine Development Corp. and USAA.

175-Room Hotel Plan Adds to Anaheim Backlog

Site Next to Pumbaa Lot Among 10 Now in Works

You can add another name to the increasingly crowded list of proposed hotel developments in the area around Disneyland Resort in Anaheim.

KBS Doubles Down on 1,375-Acre Project in Vegas

REAL ESTATE: Buys out co-investor’s 46% stake

A 2011 investment in the Las Vegas land development market by an affiliate of KBS Realty Advisors appears to be paying off for the Newport Beach-based company, although a recent add-on deal indicates that land prices in the gambling mecca remain well below peak levels.

Golden State Foods HQ Office Up for Sale, Again

REAL ESTATE: Would be 6th Sale of Office Since ’06

An Irvine office tower that holds the headquarters of Golden State Foods Corp. and other tenants is up for sale again in one of the largest transactions anticipated this year in the John Wayne Airport-area market.

Irvine Developer Gets 133 Acres in LA Industrial Belt

REAL ESTATE: Estimates put Goodman Birtcher buy at $240M

Irvine-based developer Goodman Birtcher has bought a pair of massive distribution centers in Los Angeles County, including a property just over the county line in Santa Fe Springs, in one of the largest industrial acquisitions in Southern California in recent memory.

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Goodman Birtcher Gets 133 Acres

Irvine-based developer Goodman Birtcher has bought a pair of massive distribution centers in Los Angeles County.

Anyone’s Guess As Young Rides Off Ranch

Let the guessing game begin as Dan Young gets set to step down from the Irvine Company.

SF Investor Makes FV Complex 3rd Office Buy in OC

REAL ESTATE: Swift nabs 2 buildings next to Hyundai HQ

San Francisco-based real estate investor Swift Real Estate Partners has made its third acquisition in Orange County in as many years, getting a two-building office complex in Fountain Valley.

Commercial Development at Highest Level Since ’07

Nearly 3M SF Completed; Projects Spread Across OC

Orange County’s top commercial real estate developers posted their most active year of completed projects in a decade with a variety of sizeable product types opening across the region over the year ended April 30.

Surge of Hotel Development

More Than 7,000 Rooms Proposed in Four Cities

The four Orange County cities with the heaviest volume of hotel construction are seeing a divergence in the type of properties being built there and the sorts of guests the hotels will target.

Homebuilder TRI Pointe Moves Local Division

HQ Staying at For-Sale Google Center Campus

Irvine-based homebuilder TRI Pointe Group Inc. is moving its Southern California division closer to some of the projects it has under way on the Irvine Ranch.

Commercial Construction Up, Uncertainty on Horizon

Revenues Here Highest Since ’09, Backlog Down

Orange County’s largest commercial construction companies took in the most revenue since the Great Recession, although a shrinking backlog and ominous economic reports raise questions about the industry’s continued growth.

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Young to Step Down at Irvine Company

Dan Young plans to step down from his executive position at Newport Beach-based Irvine Company at the end of the month.

Steadfast a Record Maker with Music City Purchase

$110M Apartment Deal Tops for Nashville Region

An affiliate of Irvine-based Steadfast Cos. has bought a big apartment complex in the suburbs of Nashville, Tenn., in what local news reports say is the priciest multifamily deal the area has ever seen.

Hot Start for New Home’s Latest in Newport Coast

REAL ESTATE: 12 of 55 luxe homes sold ahead of opening

Hefty price tags don’t appear to be stifling interest in the last big housing community slated for the Newport Coast community of Crystal Cove.

Google Campus On Jamboree Leads OC Office Listings

REAL ESTATE: Some $1.3B worth of deals in pipeline amid rising rents

The five-building Irvine office campus that holds the local operations of Google Inc. and others is up for sale, headlining an Orange County office investment market that’s seeing its heaviest activity in over eight years.

Meritage Homes Buys West CM Infill Site

REAL ESTATE: Roughly $35M sale of 135-home portion of site

A portion of a former industrial facility in Costa Mesa’s Westside that’s slated for an infill housing project has sold in one of the larger land deals in the city in recent years.

Apria Healthcare’s Lake Forest HQ Sells for $19M

REAL ESTATE: PRES Cos. buys South OC complex

The Lake Forest headquarters of healthcare provider Apria Healthcare Group Inc. has been sold to a local real estate investor for $19 million.

Abbott Medical Optics’ Santa Ana HQ Sells for $37M

SF-Based Investor Pays $216/SF for 10-Acre Site

The Santa Ana headquarters of Abbott Medical Optics has been sold to a San Francisco-based investor.

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 Seattle suburbs.

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.

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.

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.

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.

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.

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.

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