Orange County Business Journal

Will Others Follow Irvine Company Rent Hikes?

REAL ESTATE: Landlord seeks biggest jumps since recession

The Irvine Company, Orange County’s dominant office landlord, appears to be undertaking its most aggressive office rent hikes for its local buildings in years.

Property Managers Build Portfolios in Brisk Market

Two Dominate, Group Combines for 8.7% Jump

A flurry of large office purchases by institutional investors, a smattering of development, and new out-of-town accounts helped boost the bottom lines of Orange County’s largest commercial property managers last year.

Big-Dollar Sales Drove Brokerage Gains Last Year

About $18B In Sales, Leases Result In Nearly 14% Jump

Orange County’s largest commercial brokerages continued to benefit from investor interest in local properties in 2013, and to a lesser extent, tenant demand.

Next for New Home Co.: 130 Acres in Corona

REAL ESTATE: Expected to pay $74M for land near 15 Freeway

The New Home Co. is closing in on the purchase of a nearly 130-acre, 1,200-home development site in Corona, one of several projects now in the works for the Aliso Viejo-based homebuilder following its recent initial public offering.

Brady, Vorwerck Shutdown Puts Lawyers on Move

LAW: Partner wanted religious practice; firm in lease litigation

Orange County’s legal scene has experienced one of its largest shake-ups in half a dozen years following the dissolution of Orange-based Brady, Vorwerck, Ryder and Caspino.

Vorwerck Shutdown Puts Lawyers on Move

LAW: Partner wanted religious practice; firm in lease litigation

Orange County’s legal scene has experienced one of its largest shake-ups in half a dozen years following the dissolution of Orange-based Brady, Vorwerck, Ryder and Caspino.

Ritz-Carlton Sale Talk Cools as Business Improves

Deal With Shareholder Comes Amid Stock Gains

A potential sale of the Ritz-Carlton, Laguna Niguel appears to be on the back burner after the owner of the Dana Point luxury resort reached a truce with a large shareholder that had been pushing for the company to consider shedding assets.

Title Insurers Turn to Buys As Refinancings Dry Up

Interest Rate Hikes Bring 13% Decline in Business

Business for Orange County’s largest title insurers took a step back in 2013 as rising interest rates brought about a steep drop in refinance work during the second half of the year.

Nonlocal Investors Drive Top Real Estate Sales in 2013

Distressed Deals Down, Development on Comeback

Nonlocal investors produced the bulk of activity last year in Orange County’s commercial real estate market, the first year since the onset of the recession that distressed deals didn’t make up a large portion of sales activity.

Mitsubishi Electric to Consolidate in HB

Mitsubishi Electric Automotive America Inc. plans to consolidate its regional operations in Huntington Beach.

Marblehead Land Back on Block?

REAL ESTATE: Taylor Morrison said to have 2nd thoughts on $215M price

The land set to hold the high-end Marblehead coastal housing development in San Clemente looks to be back in play, now that the homebuilder initially tapped to buy the 195.5-acre site has apparently gotten cold feet over the price.

Irvine Co. Nears Blockbuster Lease in Santa Clara

Ericsson Eyes 440,000 SF in Silicon Valley Project

Newport Beach-based Irvine Company is making more waves in the Silicon Valley office market, with a blockbuster lease for a development reportedly in the works.

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Standard Pacific CEO Stowell Joins Pacific Mutual Board

Scott Stowell, chief executive officer and president of Irvine-based homebuilder Standard Pacific Corp., has been named to the board of Newport Beach’s Pacific Mutual Holding Co., the ultimate parent company of Pacific Life Insurance Co.

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Mitsubishi Electric Moving to Huntington Beach

Mitsubishi Electric Automotive America Inc. plans to consolidate its regional operations in Huntington Beach.

DJM Hears Skeptics, Gets ‘Aggressive’ on Pacific City

REAL ESTATE: Joins list of OC retail projects in works

DJM Capital Partners Inc. has more than a big hole to fill along Pacific Coast Highway when it comes to its long-awaited Pacific City retail project in Huntington Beach.

Uptown Newport Alters Ownership, Moves Ahead

Shopoff Buys Out DRA, Brings in Picerne Group

The Uptown Newport mixed-use development on Jamboree Road is preparing for its first major round of construction following a few changes in ownership for the high-visibility Newport Beach project.

Verizon Job Cuts Prompt Give-Back on Lease

REAL ESTATE: Irvine Company to redo 2 of 5 Spectrum buildings

A portion of the regional headquarters of Verizon Wireless in the Irvine Spectrum will be converted into a multitenant office park, a result of the telecom’s recent decision to trim its local head count by more than 40%.

Affliction Exec Buys Observatory Theater in Santa Ana

$10M Deal Includes 47,319-SF Office

A cofounder of apparel company Affliction Inc. has bought the Santa Ana building that holds the Observatory OC concert venue where he’s an investor, as well as an adjacent office.

Equity Office Eyes Addition to Portfolio in South Coast Metro

REAL ESTATE: Deal for Santa Ana towers pegged at nearly $130M

The office division of private equity giant Blackstone Group is poised to become one of the two largest landlords in the South Coast Metro business district, based on an impending deal for the Griffin Towers office complex in Santa Ana.

National Builders Turn Focus Back to OC

Big Deals for Notable Sites Reflect Confidence in Recovery

National builders have their eyes on Orange County again.

Homebuilders Post 90% Jump, Most Sales Since ’04

Orange County homebuilders last year posted their best year for sales since 2004, buoyed by the opening of several masterplanned communities, as well as continued strong sales on the Irvine Ranch. Includes the 2014 OC's LARGEST HOMEBUILDERS list for download (pdf)

Mesa Cold Storage Buys Fullerton Buildings for $16.2M

209,000 Square Feet For Food Processing, Storage

Mesa Cold Storage, a logistics company that specializes in temperature-controlled facilities, has purchased the buildings that hold its Fullerton operations.

Homebuilders Stage Local IPO Resurgence

3 Builders Went Public, $670M in Proceeds to Spend

Wall Street cash is making its way back to Orange County’s homebuilding industry after a brief hiatus.

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Broadcom Mum on HQ Plan, Has Irvine Options Open

Short-Term Deals Possibility For Chipmaker?

Irvine city officials have acted as though it’s a fait accompli, but regulatory filings of Broadcom Corp. continue to suggest that a move of the chipmaker’s headquarters to a new office development at Orange County Great Park is not set in stone.

$250M Worth of Deals Bring New Life to Central OC ‘Zombies’

REAL ESTATE: Starwood, CIM, Torchlight buy into office recovery

There’s a new set of owners overseeing four of the most prominent office buildings on the skyline of Orange and Anaheim following a series of sales that reached about $250 million combined.

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Cypress Industrial Complex Sells for $60m

A two-building industrial park in Cypress that holds the headquarters of apparel company Vans Inc. has traded hands for $60 million.

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Lighting Co. Adds to Anaheim Manufacturing Base

Intense Lighting Stays Local, Gets Larger HQ

Intense Lighting LLC, an Anaheim-based maker of interior and exterior lighting products, is expanding big in its hometown.

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Valentine Cheers: Some of What Goes Into a Toast on Coast

Wine Lovers Look Down for Million-Dollar View at St. Regis Monarch Beach

Forget the sweeping ocean vistas, Tuscan-inspired architecture, champagne-feted sunsets, or even the Robert Trent Jones Jr.-designed golf course.

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CoreLogic Comeback

Data Analytics Provider’s Market Value Tops $3B, Critics Turn Quiet

Frank Martell has helped oversee one of Orange County’s biggest turnaround stories over the past 2 ½ years.

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New Owners See Hotel in Place of Car Wash at Newport Center

Land in Newport Center that currently holds a car wash is being eyed for a boutique hotel, one of several development projects being proposed for the area around Fashion Island, pending changes to the general plan of the city of Newport Beach.

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First American in $155M Deal for Data Provider

Santa Ana-based First American Financial Corp. said on Thursday it is paying $155 million to buy Interthinx Inc., an Agoura Hills-based provider of mortgage loan-related data.

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Pacific City in HB Gets New Apartment Developer

UDR Takes Over Crescent Heights’ Multifamily Land

A national apartment owner with plenty of familiarity with Huntington Beach has signed on to that city’s Pacific City mixed-use development.

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Quail Street Grows Into Creative Niche

REAL ESTATE: Bixby plans makeover for 45,000-SF office

Newport Center Drive might be the glamour location among Newport Beach offices, but Quail Street is developing a niche of its own in the city’s office market.

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New Home Co.: IPO Will ‘Supercharge’ Builder’s Growth

REAL ESTATE: Shares see modest rise despite choppy market

Executives at The New Home Co. think that the company’s transition to a publicly traded company will help “supercharge” its growth in Orange County and its other core California markets.

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Full Circle on Timing of Homes at Baker Ranch

REAL ESTATE: 2014 opening ‘seems like it worked out’

The builders behind Baker Ranch in Lake Forest hope that patience pays off when they open the largest remaining housing development slated for the city.

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New Home Co. Raises $86M in IPO

Aliso Viejo-based The New Home Co. Inc. made its Wall Street debut Friday, raising about $86 million in its initial public offering.

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OC Supe Spitzer Named Chairman of Retail Investor

Orange County Supervisor Todd Spitzer was named to the board of directors of Strategic Realty Trust Inc., a San Mateo-based retail investment company, as part of a settlement between the company’s current board and a shareholder group that included its former manager, Costa Mesa-based Thompson National Properties.

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Cigna Buys Into View of Rising Rents for Offices in Airport Area

REAL ESTATE: Greenlaw stays as insurer’s partner, plans to move in

An office tower in the John Wayne Airport area of Irvine has changed hands in the latest deal by a national investor bullish on the local market’s potential for rent growth.

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Change Is Constant for County’s Infill Developers

Shea, Sares-Regis Shift With Market, Changing Tastes

There’s no such thing as a slam dunk or a straight shot when it comes to infill redevelopment projects.

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OCTA Skips Santa Ana Buy, Renews Lease in Orange

11th-Hour Deal to Stay at Union Bank Square HQ

The Orange County Transportation Authority is staying in Orange, after all.

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Irvine Business Complex Continues Apartments Trend

Plans Represent Most Development There in Years

The one-time homes of churches, dietary supplement manufacturers, clean-energy companies, and a host of other office tenants in Irvine are on the fast track to being turned into apartment sites in the latest burst of development activity at the Irvine Business Complex.

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Sares-Regis’ SoCal Pipeline Nears $1B

REAL ESTATE: Distribution center for Deckers among projects

Sares-Regis Group is becoming the master of making big statements.

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Irvine Company Eyes Multiple Tenants for Newest Trophy

Tower on OC’s Priciest Street

The newest office tower being built in Newport Center is available for lease, with rental rates at the trophy property expected to rise as high as the building’s 21 stories.

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Irvine Ranch Keeps Top Spot for Home Sales in State

RMV, Great Park Best Among New Projects

The Irvine Ranch had no trouble keeping its crown as California’s busiest masterplanned community last year.

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Fast-Growing Drug Maker to Double HQ Space

REAL ESTATE: Avanir adds to space at Summit in Aliso Viejo

Avanir Pharmaceuticals Inc., one of Orange County’s fastest-growing public companies in recent years, has inked a lease to more than double the size of its headquarters in Aliso Viejo.

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Irvine’s Hotel Pipeline Fills Up in New Year

Its Hotel Room Count Could Grow By About 25%

A hotel development push in Irvine is under way as the city aims to grab a larger slice of Orange County’s business and tourism travel.

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Hotel, Apartments in Works for Park Place

REAL ESTATE: Sares-Regis, Texas developer in deals for land

A hotel and another round of apartment construction are being planned for LBA Realty’s sprawling Park Place mixed-use campus, which also holds the potential for a new office tower.

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Hoteliers, Meeting Venues Regain Advantage in Upturn

Hold More Leverage in Negotiations on Rates

The outlook for the hotel and meetings business continues to shine bright into the new year. Includes the 2014 OC's HOTEL MEETING ROOM SPACE list for download (pdf)

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$37M Industrial Buy in Costa Mesa for Extracts Maker

$10M Jump in Price for Sunflower Ave. Building

A Chinese maker of herbal extracts used in supplements and cosmetics has bought one of Costa Mesa’s larger industrial properties.

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Freedom Puts $28.9M Price on Register HQ

REAL ESTATE: Plans to keep adjacent printing operation

The owner of the Orange County Register has put a price tag of nearly $29 million on the paper’s headquarters in Santa Ana.