Orange County Business Journal

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.

New Look for Old St. John Knits Site?

REAL ESTATE: LBA envisions offices, hotel, movie theater, retail

LBA Realty, the owner of much of the Park Place mixed-used campus in Irvine, is looking to build a companion project on a nearby parcel of land that would feature offices, a movie theater, a hotel, retail and other features.

LBA Latest OC Investor With Eye to Buy in Phoenix

Rumored $275M Deal For 4-Office Portfolio

LBA Realty is in line to buy a big office complex in Phoenix, making the Irvine-based investor the latest Orange County real estate company making waves in that region.

IBC Apartment Sale Points to New Benchmark

REAL ESTATE: Estimate on per-unit price tops $400,000

A recently built apartment complex has traded hands in what looks to be one of the priciest per-unit deals for a multifamily property in the Irvine Business Complex.

Irvine Developer Gets $23 Million for Anaheim Hotel

Five-Story, 110,000-SF Project Set to Open in ’16

One of the developers planning a hotel for Anaheim’s resort area has gotten a construction loan to get the project under way.

Olen’s Spree: 3 Deals, 3 States, 1,000 Apartments

REAL ESTATE: Portfolio now tops 12,000 residential units

Olen Properties Corp. has spent nearly $200 million to buy three out-of-state apartment complexes this month, adding to a busy year of acquisitions for the Newport Beach-based real estate owner and developer.

Hip Is Hot: Costa Mesa Retail Center Draws $120M Investment

REAL ESTATE: LA firm buys into Burnham-Ward project off 405

SOCO—the hip mix of furniture, fashion, design and food tenants along the San Diego (405) Freeway in Costa Mesa—has gotten a new ownership structure and a big boost in its valuation.

China-Based Builder Gets 96 Acres in Lake Forest

REAL ESTATE: Pegged for 626 homes; deal estimated at $190M

A China-based homebuilder looking to diversify its operations into the U.S. has bought a big development site in Lake Forest.

John Hancock Pays $104.5 Million for 5000 Birch

REAL ESTATE: Insurer adds 3rd office building in JWA area

The real estate investment arm of John Hancock Life Insurance Co. has added a pair of office buildings in Newport Beach to its growing local portfolio.

Western Realco Buys 2nd Fullerton Development Site

8 Acres a Few Blocks From Former Beckman HQ

Western Realco has added another property in Fullerton—and another site with ties to medical testing company Beckman Coulter Inc.—to its industrial development pipeline.

New Home Takes Upscale Offerings To Phoenix Market

REAL ESTATE: First project outside state resembles Meridian in Newport

The New Home Co. has inked a deal to build an upscale housing project in the Phoenix area, its first development outside California.

Mobilitie's Move

$325M in Funding, Hiring Spree Point to National Network of Small Cell Base Stations

A just-completed $325 million fundraising deal for Mobilitie LLC comes as the Newport Beach-based wireless infrastructure company is gearing up for what it is calling the “largest network deployment initiative in the U.S.”

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Mobilitie Raises $325M in Debt Funding

Newport Beach’s Mobilitie LLC said that it had raised $325 million to fund the deployment of its wireless infrastructure projects.

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.

Harrah Sees ‘Whole Package’ in Register Parent’s Turmoil

Developer Part of BK Bid, Could Try Again on Last of Publisher’s Land

Developer Mike Harrah said he remains interested in buying 14.3 acres surrounding the headquarters of the Orange County Register despite an earlier deal for the land falling apart and the newspaper’s parent company’s latest complications.

OC Office Development Gets Serious on Spec for '16

2.5M SF in Works Approaches Prerecession Pace

Developers are taking a much more varied approach to projects planned for Orange County’s office market next year than during the area’s last building boom.

Texas Mortgage Firm To Pacific Arts Plaza

REAL ESTATE: Pacific Union to consolidate local offices

Irvine Company has found a tenant for one of its largest empty blocks of office space in the area around John Wayne Airport.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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