Orange County Business Journal

OC’s Top Deals Double in 2015 to Cumulative $3.6B

Creative-Office Trend Up, Distressed Deals Down

Local investors turned their attention to large fixer-upper properties across Orange County last year as insurance companies looking to invest here largely placed their money in more stabilized assets in a banner year of dealmaking.

Landsea Pays $186M For Silicon Valley Infill Site

REAL ESTATE: Recent arrival to OC plans 450 townhomes on 25 acres

Landsea Holdings Corp., OC’s newest homebuilder, has made its largest purchase to date for an infill housing development in Silicon Valley.

Birtcher Anderson Back as Buyer with Portfolio Deal

Gets 18-Building Package in NorCal for $64M

San Juan Capistrano-based real estate investor Birtcher Anderson Realty has made its largest purchase in several years, picking up a portfolio of light industrial and flex buildings in Northern California.

Newport Center Condo Tower Plan Bound for Scrutiny

Project Could Trigger Slow-Growth Restrictions, Draw Objections Over Height

Related California appears to face an uphill battle to build Orange County’s tallest residential tower in Newport Center.

Law Campus on Sales Block

14 Acres May Be Next in Line for Development in Costa Mesa

Whittier Law School is exploring a sale of its expansive campus in Costa Mesa.

Big Move For Big-Data Firm

TECHNOLOGY: VC-backed Alteryx to Park Place, plans 100 hires

Analytics software maker Alteryx Inc. has signed a deal to move its headquarters to an office at the Park Place campus in Irvine, a shift that will accommodate the venture capital-backed technology company’s plan to double its local workforce.

Plaza Tower Adds Services Firms, Designer to Mix

New Porsche Group HQ Joins Morgan Lewis, BDO

Plaza Tower in Costa Mesa, the best-known building in the office market near South Coast Plaza, has gotten a trio of new and expanding tenants that are taking more than 60,000 square feet of space combined.

PRES Snaps Up 12-Story Office Next to MainPlace

REAL ESTATE: Sees additional potential for 4.5-acre site

Irvine-based real estate investment and management firm PRES Cos. has added another Central County office to its local portfolio.

Mobile Home Sites Keep OC’s Infill Developers Busy

Over $150M in New Deals As Open Land Disappears

Mobile home parks have become an increasing source of opportunity for local homebuilders seeking infill development locations across Orange County as available land quickly disappears.

Builders Go Big, Nab Large Land Sites Across OC

Largest Deals of Past Year To Hold 2,500+ Homes

If there’s a housing downturn on the immediate horizon in Orange County, someone forgot to tell the homebuilding industry and its land buyers.

Lennar’s Central Park West Gets Ownership Tweak

Bolsters Majority Stake As More Homes Are in Works

The Central Park West development in Irvine, where a heavy amount of groundwork is under way in preparation for another slate of homebuilding, has gotten a tweak in its ownership structure.

New-Home Sales Slide in ’15 Amid Declining Supply

New Community Count Now Picking Up Across OC

New-home sales in Orange County took a step back last year as two of the region’s three largest master-planned developments brought no new offerings on line until late in the year.

Irvine Company Takes Amenities Up a Notch

REAL ESTATE: Fitness, health centers, outdoor upgrades

Irvine Company, Orange County’s dominant landlord, is preparing to launch a package of fitness, wellness and outdoor amenities for a large portion of its office portfolio.

Broadcom’s Campus Moves Forward on Piecemeal Basis

Not Everything in Works In First Phase of Campus

Recent job cuts at Broadcom Corp.’s local operations following its sale to Avago Technologies Ltd. appear to fall in line with the construction seen so far at the chipmaker’s new office campus being built at Great Park Neighborhoods in Irvine.

$100M Makeover in Costa Mesa

Developer Plans Creative-Office Space at Former LA Times Plant

The former Los Angeles Times printing plant in Costa Mesa is slated to be turned into Orange County’s largest creative-office redevelopment project to date.

Lennar, Toll Bros. Head for Hills at Great Park

REAL ESTATE: Joint venture for 840 upscale houses on 272 acres

Toll Brothers Inc. and Lennar Corp. have entered into a blockbuster deal to build more than 800 homes at a future phase of development at Great Park Neighborhoods in Irvine.

CT Realty’s Office Investment Plan Leads to Orange

Centrum South Follows Nearby $44M CHOC Deal

CT Realty Investors, one of Orange County’s biggest industrial investors and developers in recent years, has added another local office building to its portfolio.

Creative-Office Trend to Great Park

REAL ESTATE: Anchors FivePoint’s revised plan for 73-acre site

The developer of Great Park Neighborhoods in Irvine has earmarked a 73-acre portion of the former El Toro Marine Base for a commercial project featuring creative-office buildings, among others.

Buchanan Street Sees Opportunity in Diamond Bar

Gateway Center Follows Deals in Dallas, Scottsdale

Newport Beach-based Buchanan Street Partners has made its largest reported local purchase in more than a year for an office complex a few miles outside Orange County in Diamond Bar.

Panattoni’s Local Boss Departs for Own Venture

REAL ESTATE: Follows strong run with industrial developer

The head of Panattoni Development Co.’s investment and development activities in Orange County and the Inland Empire has left the Newport Beach-based real estate company to start his own venture.

Brighton Adds Crowne Plaza

REAL ESTATE: Same developer with eyes on Upper Newport Bay

The 224-room Crowne Plaza Costa Mesa Orange County has traded hands a few years after being converted from a boutique property.

Year of Reckoning for Costa Mesa Developers

General Plan, Slow-Growth Measures Headline Agenda

2016 is shaping up to be a year of heavy suspense for a nearly 3-mile swath in Costa Mesa just north of the San Diego (I-405) Freeway in terms of potential residential and commercial development.

MBK’s Multifaceted Approach

Addition of Apartments, Senior Housing Helped Homebuilder Get Back on Track

Kent Crandall joined MBK Real Estate LLC in 2006, when the Irvine-based company was largely focused on building for-sale homes.

Koreatown South: LA Investor Buys Into Buena Park Downtown

REAL ESTATE: Adds 535,000 SF of retail in wake of sale of LA mall

A Los Angeles-based investor with ties to that city’s Korean-American community has bought a majority stake in Buena Park’s largest mall.

‘Creative’ Offices Go Big With Latest Wave of Projects

Multistory Office Sites Get Developer Attention

Area office owners are super-sizing the latest crop of creative-office redevelopment projects on tap in Orange County.

Platinum Triangle Pendulum Swings Back

For-Sale Project Follows Nearly 10 Years of Rental Developments

A Newport Beach-based homebuilder is planning the first dedicated for-sale housing project in Anaheim’s Platinum Triangle district in nearly a decade.

Rare Run on PCH

‘Entirely New Type of Investor’ for Commercial Properties Along NB Stretch

It’s rarely a bad time to sell a waterfront commercial property in Newport Beach, home to some of the most desirable—and expensive—real estate in California.

Developer Would Raze Los Al City Hall for Retail

REAL ESTATE: Lincoln owns 10-acre parcel next door

Lincoln Properties Co. is in talks to buy the Los Alamitos City Hall and municipal center, a 3.1-acre site on Katella Avenue where the developer plans to build a shopping center.

Hines Adds to Local Portfolio With Former Fisker HQ

REAL ESTATE: Plans makeover to stand out in Anaheim Canyon

Hines Interests LP has bought the former headquarters of Fisker Automotive and Technologies Group LLC in Anaheim, adding another office to its already sizeable base of buildings in North Orange County.

400 Spectrum Tower on Track After Nearby Leases

WeWork, Curse Inc. Join Mazda in 21-Story Office

The Irvine Co.’s plans for a sister tower for its 200 Spectrum office building appear to be on the fast track after a flurry of leasing activity for the developer’s speculative office tower, which is nearing completion.

Apartment Developer Adds Colton Co. Offices to IBC Mix

REAL ESTATE: Site could get 800+ units under Garden Communities

San Diego-based Garden Communities of California has bought a multibuilding portion of the Colton Plaza office campus next to John Wayne Airport where the company plans to build a big multifamily project.

Hines Gets $65M for Pair of Fully Leased Offices

REAL ESTATE: Moshayedis pony up $34M for IBC property

Real estate owner and developer Hines Interests LP has sold a pair of properties it owned near John Wayne Airport for nearly $65 million.

Irvine Ranch Retains Top Spot for Local Home Sales

Sales Up 17%; FivePoint Project Ranks No. 16 in US

The Irvine Ranch retained its ranking as the second best-selling master-planned community in the country last year, according to a new report by Irvine-based John Burns Real Estate Consulting.

Second Douglas Park Hotel for Nexus Moves Ahead

Long Beach Project Mix Of Hampton, Homewood

Santa Ana-based Nexus Cos. has gotten the go-ahead for a second hotel project in the Douglas Park development in Long Beach.

$87.5M Surf City Rental Flip Points to More Heat

REAL ESTATE: Value of 277 units up nearly 30% since 2012

An estimated $87.5 million sale of an apartment complex in Huntington Beach is the latest indicator that the city’s multifamily market remains hot.

Mazda Gives Spectrum Tower New Gear

Takes 5 Floors for HQ as Speculative Project Nears Completion

The Irvine Company has landed Orange County’s largest automaker to anchor its new office tower in the Irvine Spectrum.

Bandai Vacates HQ, Cypress Office in Line for Sale

REAL ESTATE: Toy maker to L.A.; Japan-based investor to buy office

A real estate investor based in Japan is in line to buy the most distinctive office building in Cypress in the recently vacated headquarters of toy company Bandai America Inc.

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CHOC Pays $44M for Orange Office

Children’s Hospital of Orange County has bought an eight-story medical and office building next to its main campus in Orange.

Invesco Buys Into Fluor Campus in Aliso Viejo

REAL ESTATE: No indicators engineering firm plans to vacate

Dallas-based institutional investor Invesco Real Estate has completed its second big office purchase in Aliso Viejo in the past year.

MetroCenter in Line for Big Renovation

REAL ESTATE: Sale likely biggest office deal of 2015

The new owners of MetroCenter at South Coast are planning a major renovation project of the office complex, with an expectation of turning the Costa Mesa site into one of Orange County’s most unique office campuses.

Real Estate: Scott Stowell

Change in Standard Operating Procedure Puts Homebuilder Among Top 5 in Nation

The largest homebuilder based in Orange County got a lot larger on Scott Stowell’s watch last year.

KBS Eyes Charlotte Market With $147M Tower Buy

Deal Would Be First Office In City for NB Investor

An affiliate of Newport Beach-based KBS Realty Advisors is under contract to buy a 24-story office tower in Charlotte, N.C.

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Sunstone Sheds NY Hotel for $540M

Aliso Viejo-based hotel investor and operator Sunstone Hotel Investors Inc. said that it has sold its leasehold interest in New York City’s Doubletree Guest Suites Times Square for $540 million.

Newport Dunes Land Could See Pair of Hotels Built

275 Rooms,‘Value-Oriented Accommodations’ Planned

Brighton Management LLC, an Irvine-based hotel developer and manager, is looking to double down on plans at the Newport Dunes marina property in Newport Beach.

Lido Village Waterfront Office Bought for Redo

REAL ESTATE: Burnham pays $16.6M for Olen sites

Burnham USA is the latest developer looking to help revamp the Lido Village area of Newport Beach.

PacSun Eyes HQ Sale to Raise Cash

REAL ESTATE: Company would lease back Anaheim property

Pacific Sunwear of California Inc. is exploring a sale of its Anaheim headquarters in an effort to raise cash.

2016 Preview: REAL ESTATE

Expect to see a lot more construction cranes join the skyline this year.

Greenlaw, Stillwater Partner for 2nd San Gabriel Buy

JV With CrossHarbor Pays $35M for Lakes Offices

Two local investors have teamed up to buy a second office campus in the San Gabriel Valley.

2015 YEAR IN REVIEW: Real Estate

Development action at the Platinum Triangle in Anaheim moved into overdrive this year, despite lingering uncertainty over the area’s biggest tenant: the Angels baseball team.

Another Insurance Firm Places Bet on OC Office Market

REAL ESTATE: New York Life affiliate snaps up tower near airport

One of the buildings at the Von Karman Towers office complex near John Wayne Airport is the latest local property to be purchased by a large insurance company.

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