Orange County Business Journal

Voit’s Latest Local Changes Are RiverRock’s Gains

1.5M-SF Management Pact Adds to Strategic Moves

Newport Beach-based RiverRock Real Estate Group Inc. has picked up a sizeable account for its property management business in the latest big change in the operations for Voit Real Estate Services and its affiliated companies.

Tustin Property for Retail, Hoag Projects Near Sale

City-Owned Land Trading For Less Than Nearby Sites

The developers looking to turn a nearly 21-acre parcel at Tustin Legacy into a retail and healthcare project appear to be getting a good price on the city-owned land.

Homebuilder Tops List After 2 Years Back in Public Market

Industry Watchers Speculate It Could Be Ripe for Consolidation Trend

Improving fortunes in the housing market and a disciplined operating plan have provided a boost to the fortunes of William Lyon Homes Inc. during its return to the public markets.

Garden Grove Hyatt Draws Chinese Buyer

REAL ESTATE: Shanghai firm paid $137M for 653-room hotel

An affiliate of one of China’s largest construction companies has purchased the Hyatt Regency Orange County in Garden Grove for $137 million.

KBS Latest OC Firm To Eye Big Easy Hotels

REAL ESTATE: $51.2M buy comes as $2.3B REIT ramps up

KBS Realty Advisors is the latest Orange County real estate investor looking to invest in New Orleans’ hospitality market, even as the Newport Beach-based company continues to seek deals—and investors—in its own backyard.

Quail Street Offices in Newport Beach Get Creative

Bixby Moves to Avalon, BKM Buys Athletic Club

Bixby Land Co. didn’t have to look too far to find its first tenant for a creative-office redevelopment it recently finished in Newport Beach.

Lease Buffs Newport Center’s Financial Luster

REAL ESTATE: Irvine Co. nabs BofA division for new tower

The Irvine Company has landed its largest tenant yet for the new 520 Newport Center office tower next to Fashion Island.

Allergan to Shed Pair of Off-Campus Offices in Irvine

Marketed For Potential Creative-Office Uses

Allergan PLC has put a pair of office properties it owns in Irvine on the market. It’s the first time Allergan has tried to shed locally owned buildings since its sale to Actavis PLC this year.

Western Realco Gets Beckman-Coulter Site in Fullerton

REAL ESTATE: Business park would boost city’s industrial base

Western Realco is planning to build a multibuilding business park on land in Fullerton that previously held the headquarters of Beckman Coulter Inc.

Panattoni Lands Disney for Anaheim Concourse

REAL ESTATE: One of two largest at 14-building project

Walt Disney Co. has inked a deal to lease one of the largest new industrial buildings built in Anaheim over the past decade to support its local theme park and resort operations.

Monster Energy Duo Invests in Central OC

REAL ESTATE: Tower bought in deal with PRES Cos.

The cash-flush duo that runs Corona-based Monster Beverage Corp. is looking to provide a boost of energy to a high-profile office tower in Orange they’ve just bought.

Rare Commercial Deal in Pricey Corona del Mar

2-Building Office-Retail Space Nabs $734 PSF

A pair of office and retail buildings on East Coast Highway in Corona del Mar has traded hands at what’s been described as a record price for the area.

Moshayedi Scores on Retail Rebound in IE

REAL ESTATE: $147M price for Chino Hills center up 55%

A bet on the Inland Empire retail market in 2010 has paid off well for MX3 Ventures, a Newport Beach real estate investor with ties to former Santa Ana-based storage device maker STEC Inc.

Condos Now Proposed for Fashion Island Carwash

REAL ESTATE: 49 units would be latest for-sale project

Land in Newport Center that holds a carwash and that was once eyed for a boutique hotel now is being considered for a condominium project.

Some Irvine Co. Offices To Go ‘Behind the Meter’

REAL ESTATE: ‘Biggest deal ever’ to use grid-feeding batteries

The Irvine Co. has signed on to a cutting-edge energy storage project that will transform nearly two dozen of its highest profile offices in the Irvine Spectrum and John Wayne Airport area into hybrid electric buildings over the next year.

New Spectrum-Area Event Facility Puts on the Glitz

ECONOMY: Gensler-designed center to have capacity for 1,000

A longtime area special-events producer is pulling out all the stops for a meeting and events venue that’s being built in the Irvine Spectrum.

Emulex Campus Next in Line for Creative Office Makeover

REAL ESTATE: Upgrade, possible addition to 3-building campus

The new owner of Emulex Corp.’s headquarters in Costa Mesa is planning a creative-office redevelopment of the existing three-building campus, with additional ground-up development on excess land at the property a possibility.

Albertsons Plans Chilly Expansion in Irvine Spectrum

Distribution Center Project Could Start in November

The Irvine Spectrum’s industrial market is about to get a little cooler, and a creative-office redevelopment isn’t the cause this time around.

CalAtlantic Goes With Irvine Over Westlake Village

REAL ESTATE: Expects to set up similar corporate hub on East Coast

Irvine has gotten the nod over Westlake Village in the merger of Standard Pacific Corp. and Ryland Group Inc.

Olen Sold on Aliso Viejo, Snaps Up Business Park

REAL ESTATE: Six buildings fetch estimated $20 million

Newport Beach-based Olen Properties Corp. has made its largest local purchase in two years, snapping up a business park in Aliso Viejo.

KBS Realty Doubles Up in Downtown San Jose

$150 Million Office Buy Would Be 2nd Since 2014

An affiliate of Newport Beach-based KBS Realty Advisors is under contract to buy one of the more prominent office complexes in downtown San Jose.

Koll Co. Makes Largest Local Purchase in Years

REAL ESTATE: Latest buy with Rialto valued at $30.5 million

The Koll Co. has made its largest reported local purchase in several years, snapping up an office tower just over the Los Angeles County line in Cerritos.

LBA Nabs 18-Acre Campus in Anaheim Canyon

REAL ESTATE: Plans to lease 2 of 3 buildings back to AT&T

LBA Realty, fresh off a big financing deal for its Park Place mixed-use campus in Irvine, has snapped up an 18-acre property in Anaheim from AT&T Inc.

TechSpace Plans Austin Opening, More Expansion

Flex-Space Operator Latest OC Firm to Eye Texas

Office-campus operator TechSpace Inc. is the latest Orange County real estate company making a push into Austin, Texas.

Albertsons Plans 200,000-SF Addition in Irvine

REAL ESTATE: Puts 170 acres at two LA County sites on block

Grocery chain Albertsons Cos. is looking to expand the size of its already-formidable distribution center holdings in Orange County and shed some big industrial properties it owns in Los Angeles County and Oregon.

New Package for A-Town

Platinum Triangle Project Recast; Could Be Part of Fund With Sovereign, Institutional Backers

Lennar Corp. plans to begin construction by year’s end on the first phase of residential development at its massive—albeit slimmed down—A-Town project in the Platinum Triangle.

Accretive Realty Preps New SJC Med Center for Sale

Project Will Be Model For Huntington Beach Site

Obamacare is paying local dividends for Accretive Realty Advisors Inc., an Irvine-based real estate investor and developer that specializes in medical properties.

Newport Center’s Profile Continues Global Rise

REAL ESTATE: Wells Fargo, Wing Lung latest leases

The Irvine Company appears to be seeing an uptick in leasing activity for its new 520 Newport Center office tower, even as a recent report suggests that the newest addition to the seaside corporate hub now has one of the highest-ever asking rents for a building in Orange County.

Broadcom Potential Tenant for San Jose Campus

Apple Reported To Be Other Possibility

Irvine-based Broadcom Corp. could be close to finalizing a deal to build a second office campus for its operations, this time in Silicon Valley, according to news reports coming from Northern California.

Tribune Media Adds Land Next to Vacant Times Plant in CM

REAL ESTATE: 4 acres off 405 seen as part of redevelopment plan

Chicago-based Tribune Media Co. appears to be expanding its development plans in Costa Mesa.

Land Sale Near Tustin Legacy Points to Next Hotel in Irvine

REAL ESTATE: Buyer sells HB Best Western before $7.4M deal

Add a hotel to the increasingly lengthy list of new types of product planned for land bordering the Tustin Legacy development site.

Volt Eyes Sale of 12-Acre Office Campus in Orange

Aims For 10-Year Leaseback of Western Hub

Volt Information Sciences Inc., a New York-based provider of staffing services, has put its Orange office campus on the market.

Oculus Effect: Newport Gateway Lands Tech Tenants

REAL ESTATE: Irvine Company revamps, recasts office complex

Oculus VR Inc. might not count Irvine as its headquarters any more, but the virtual reality headset maker’s influence on Orange County’s technology sector can still be seen in the buildings where its local operations are housed.

Stadium Towers Owner Sees Room for More

REAL ESTATE: Could add 300,000 SF, 15 stories on Katella

The owner of Stadium Towers Plaza, a 12-story office next to Angel Stadium of Anaheim, is in the early stages of planning to double down on the same site.

Investors Pick Up Foothill Plaza For Nearly $50M

Offices Next to 241 Hold HQ for Kaiser Aluminum

Foothill Plaza, a two-building complex in Foothill Ranch that’s one of the highest-quality buildings in the office market in and around Lake Forest, has traded hands at a price approaching $50 million.

Latest Big Office Deal: $73M in Newport Beach

REAL ESTATE: Prudential affiliate gets 202,000 square feet near JWA

A 10-story office building in Newport Beach is the latest property to get snapped up by institutional investors bullish on Orange County’s improving economy.

Blizzard Entertainment Extends Spectrum HQ Stay

REAL ESTATE: Leases combine for 435,000 square feet

Blizzard Entertainment Inc. has signed a new lease for its offices in the Irvine Spectrum in a deal that should keep Orange County’s largest software company in its present location for the foreseeable future.

Quintana Campus Sells to Hines & PIMCO

REAL ESTATE: Big redo in store for former WaMu offices

The local office of Houston-based Hines Interests LP has partnered with Pacific Investment Management Co. in Newport Beach to buy one of the most prominent office campuses near John Wayne Airport.

New Home Co. to See $500M+ in Luxe Ranch Sales

REAL ESTATE: Irvine Co. deals extend to new Eastwood project

The New Home Co. is expecting more than $500 million worth of luxury home sales on the Irvine Ranch, thanks to its latest big land deal with Newport Beach-based Irvine Company.

Local Mega Developers Take Show on the Road

50M SF Planned in US, Fewer Options at Home

A handful of Orange County developers are at the forefront of a big push to build dozens of cutting-edge distribution and warehouse buildings across the country.

Apartment Owner Looks for a Lift to Boost Parking

Costa Mesa Proposal Would Be a First For City

The owners of a Costa Mesa apartment complex want to take a new approach to dealing with parking congestion.

EB-5 Program at Play in Platinum Triangle Buy

REAL ESTATE: Deal in $50M range for Texas-based JPI/TDI

A Texas-based apartment investor is under contract to buy one of the largest remaining residential development sites in the Platinum Triangle area of Anaheim.

Owner of OC’s Montage, Ritz-Carlton Eyeing Sale?

Report Cites Last Montage Owner as Possible Bidder

Strategic Hotels & Resorts Inc. is, for the second time in as many years, rumored to be exploring a sale of its high-end hotel portfolio. The deal could change ownership of two of Orange County’s toniest resorts.

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New Name for Standard Pacific

Irvine-based Standard Pacific Corp. will have a new name following its impending acquisition of Ryland Group Inc.

Hampton Inn Buy Adds to REIT’s OC Holdings

Apple REIT’s $20M Buy Follows R.D. Olson Deals

An affiliate of Richmond, Va.-based hotel investor Apple REIT Cos. has added another Orange County property to its portfolio.

William Lyon Homes Names Co-CEO

William Lyon Homes promoted Matthew Zaist to the role of co-chief executive officer.

Another Sign of Office Strength: Equity Gets Arden’s OC Portfolio

REAL ESTATE: Blackstone unit to be second biggest landlord here

A division of New York-based Blackstone Group is returning to its position as Orange County’s second largest landlord just as the local market for office space looks to be switching into overdrive.

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William Lyon Homes Promotes Zaist to Co-CEO

William Lyon Homes said it has promoted Matthew Zaist to the role of co-chief executive officer.

Gateway Deal Reflects Central OC Rebound

REAL ESTATE: Lincoln Property expected to pay $68 million

Lincoln Property Co. is buying a large office next to Angel Stadium of Anaheim in the latest sign of an improving office market in Central Orange County.

Burnham Adds Office Near JWA to Local Portfolio

REAL ESTATE: Data indicate relative bargain at $264 per SF

Newport Beach-based Burnham-Ward Properties has expanded its hometown office holdings with a property not too far from John Wayne Airport.

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