Orange County Business Journal

Medical Office Project Moves Ahead in NB

REAL ESTATE: Land buy, redesign for Birch Street project

A long-planned medical office development in the Santa Ana Heights area of Newport Beach is moving ahead following a recent sale of the nearly 4½-acre site and a redesign of the proposed project.

Bella Terra Gets New Ownership

Prudential Real Estate Investors said it acquired a 75% stake in the Bella Terra Shopping Center in Huntington Beach.

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Bren Imposter Sentenced to Time Served, $1.1M in Restitution

The convicted bank robber who stole the identity—and a $1.4 million tax refund—of Irvine Company Chairman Donald Bren was sentenced to time served, restitution and supervised release, according to court records.

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Bella Terra Gets New Ownership

Prudential Real Estate Investors said it has acquired a 75% stake in Huntington Beach's Bella Terra Shopping Center.

Irvine Company Eyes Another Spectrum Tower

REAL ESTATE: Plans indicate office on par with project now in works

The Irvine Company is considering doubling down on its high-rise office development plans in the Irvine Spectrum.

SunCal Back in Development Game in SoCal Region

Buys Arts District Land in LA for Reported $130M

Master developer SunCal Cos. is starting to make big waves in its backyard again.

Irvine Balks at County’s Plans Near Great Park

REAL ESTATE: High-density, mixed-use projects eyed for sites

Officials with the city of Irvine have expressed concern over massive commercial development plans proposed for a pair of county-owned land sites totaling about 144 acres next to Orange County Great Park.

Bixby Envisions New Ride for Kawasaki HQ

REAL ESTATE: Plans biggest makeover yet after $44.3M buy

The purchase of Kawasaki Motors Corp. U.S.A.’s Irvine headquarters is the keystone in a redevelopment plan by Bixby Land Co. that could top $70 million when the costs for a makeover of the existing building and an adjacent parcel of land are considered.

Irvine Company Takes Balancing Act Beyond OC

REAL ESTATE: NYC buy highlights push for additions away from home

The Irvine Company has added two hometown office towers to its property management portfolio in the past year and has an even larger project moving ahead in the Irvine Spectrum, consolidating its role as Orange County’s dominant real estate owner.

Burnham-Ward Eyes Creative Redo on Westcliff

REAL ESTATE: Retail, eatery to join doctors

A prominent medical office building on one of the more eclectic streets in Newport Beach is about to get a big makeover.

Big Blocks of Space Scarce in OC’s Best Buildings

Limited New Construction Anticipated This Year

Large holes of space in Orange County’s biggest and best office buildings are quickly filling up, particularly near John Wayne Airport, and area brokerages say few development projects are in the pipeline to boost supply.

Mobilitie Man

Add Reinvention, Real Estate to His Resume

Gary Jabara has overseen two successful business startups, one major business reinvention, and a big commercial real estate buying spree—all in a little over 10 years.

Commercial Brokerages Post Fifth Year of Gains

Leasing Activity Picks Up, Sales Volumes Still Strong

A sharp increase in leasing activity, continued strength in the for-sale market, and the effects of industry consolidations propelled Orange County’s largest commercial brokerages to a banner year in 2014.

Bascom Latest OC Investor to Spend Big in Bay Area

$45.1M for 220-Unit Complex in Emeryville

Add Irvine-based Bascom Group LLC to the growing list of Orange County real estate companies spending big in the Bay Area recently.

Law Firm Makes Short Trip to New HQ at 1900 Main

Palmieri, Tyler to Move From Century Centre

Palmieri, Tyler, Wiener, Wilhelm & Waldron LLP is the latest local law firm that’s figuring out how to use less space for its operations.

Blockbuster Sales Still Strong, Move Ahead in 2015

REAL ESTATE: $100M+ Deals Already Top 2014’s

2015 has the makings of a blockbuster year for large real estate deals, based on the first few months of transactions in Orange County.

Offices Top Priority for Big Investors Here Last Year

Money Shifts From Industrial, Multifamily

Deep-pocketed office investors flocked to Orange County last year looking for attractive investment yields while also betting on the market’s potential for rental growth over the next few years.

Price of Chinese Developer’s Platinum Plan: $450M

1.7 Million SF Near Angel Stadium Would Include Luxe Hotel, Condo Tower, Surf Park

A Chinese developer has proposed a mixed-use project next to Angel Stadium that could rival L.A. Live in downtown Los Angeles in terms of scope and variety of uses.

Signs Point to Top Prices Paid for Beacon Park Land

Great Park Project Nears Irvine Co. on Lot Prices

Lot prices for the latest batch of homebuilding at Great Park Neighborhoods don’t appear to be cheap.

Title Work Stumbles in 2014 as Interest Rates Top 4%

New Home, Commercial Pick Up Some of Slack

Business for Orange County’s largest title insurers plummeted last year as refinance activity significantly declined.

Hidden Canyon Sees $50M in Sales in First Month

Toll Brothers Bullish On Irvine, Lake Forest Sites

Hidden Canyon, the newest high-end, new-home community in Irvine, had about $50 million in sales in less than a month after its opening, according to the project’s developer.

Country Club Teed Up for Sale?

127 Acres Along 55 Freeway Could Fetch Up to $250M

A handful of real estate developers have teed up big-dollar bids to gauge members’ interest in selling the Santa Ana Country Club.

Kilroy Sell-Off Continues in $26M Deal for IBC Land

Fairfield Residential Plans Mix of For-Sale, Rentals

Los Angeles-based Kilroy Realty Corp. has completed the long-planned sale of a former industrial site on Von Karman Avenue in Irvine where a residential project is slated to go up.

Apartments Draw Premium in IBC

REAL ESTATE: $112 million would be highest price since 2013

A spate of apartment development going up on Jamboree Road in Irvine doesn’t appear to be scaring off investors looking for existing complexes in the same area.

OCMA Still Plans Move to Segerstrom Land

ARTS: Sale, price of current location could be trimmed

Plans to relocate the Orange County Museum of Art to a new facility at the Segerstrom Center for the Arts in Costa Mesa are moving forward despite uncertainty over the fate of the museum’s current location in Newport Beach.

HB Shorebreak Hotel Sells for $58.5M

Bethesda, Md.-based DiamondRock Hospitality Co. bought the Shorebreak Hotel in Huntington Beach for $58.5 million, or nearly $373,000 per room.

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Shorebreak Hotel Sells for $58.5M

Bethesda, Md.-based DiamondRock Hospitality Co. said it has bought the Shorebreak Hotel in Huntington Beach for $58.5 million.

Menlo Buys $60M+ of Offices in South County

REAL ESTATE: Four offices total 365,000 square feet

Menlo Equities LLC has added four more offices to its already sizable holdings in Foothill Ranch and Lake Forest, in a pair of acquisitions valued at more than $60 million.

Sales of New Homes Reach 10-Year High

REAL ESTATE: Top builders in area combine to top 4,000 mark in 2014

More than $3.5 billion was spent on new homes in Orange County last year as the area’s busiest builders reported the most sales here in a decade.

Buchanan Street Bolsters Portfolio Beyond OC Base

REAL ESTATE: Gets low-rises in SoCal, 10-story Dallas office

Recent deals for three low-rise offices in Southern California capped off an active couple of months for Newport beach-based Buchanan Street Partners, which has also added a 10-story office in Dallas to its portfolio of recent investments.

Brea Industrial Project Moves Ahead on Imperial

Clarion, Pacific Industrial Buy Site From Greenlaw

Land in Brea that once held an RV storage facility is on the fast track to hold one of the city’s largest new industrial buildings.

Infill Projects Keep Big and Small Builders Busy

Less Risk, Fast Sales Appeal to Publicly Traded Firms

Orange County’s largest masterplanned developments are driving a bulk of the recent new-home sales in the region, but plenty of builders are also finding success buying land for residential projects off the beaten path.

Mastering the Plan: Share Sales Rise for OC’s Big Three

Irvine Ranch, Pavilion Park, RMV Counter Nat’l Trend

Sales at Orange County’s best-selling masterplanned residential developments showed no signs of slowing last year and are poised for more growth this year, despite a cooling trend across much of the country.

Von Karman’s Cluster of Data Centers Could Expand

Menlo Equities Plans To Reconfigure Warehouse

Menlo Equities LLC hasn’t found too much success leasing out its Quintana office campus near John Wayne Airport. But the Palo Alto-based company appears to be seeing strong user interest at an industrial complex it owns next door, thanks to tenants of a different type.

4000 MacArthur Offices Sold to Hines, Oaktree

$100M+ Deal Follows Big Lease for Hyundai Capital

The 4000 MacArthur office complex in Newport Beach has traded hands for more than $100 million, just weeks after the two-building property landed one of the largest tenants on the market.

Sunstone CFO Aids REIT’s Reinvention

Aliso Viejo-Based Hotel Investor Sheds Debt, Gains Leverage

Bryan Giglia has helped Sunstone Hotel Investors Inc. complete a corporate makeover as extensive as any redevelopment the company has undertaken for one of its portfolio hotels.

Burnham Eyes LB For New Retail Project

REAL ESTATE: Buys Douglas Park land from Sares-Regis

Newport Beach-based Burnham USA Equities Inc. has bought nearly 30 acres of land next to Long Beach Airport where it’s planning one of the largest retail projects in the city in years.

Donahue Schriber Latest OC Buyer in Silicon Valley

REIT Buys New Center For Estimated $111 Million

Add Donahue Schriber Realty Group to the growing list of Orange County commercial real estate companies spending big dollars in Silicon Valley.

Chicago Investor’s Buy Ups Bet on Resort Market

REAL ESTATE: $1.4M-per-room sale of Montage an OC record

The Chicago-based investor that was reportedly exploring a sale of its lone Orange County property just 18 months ago has instead added to its local resort holdings.

HCP Back in OC, Big in Bay Area With Campus Plan

REAL ESTATE: Eyes lifescience tenants for 884,000-SF project

A recently returned corporate citizen of Orange County has gotten started on one of the largest office developments under way in California—an 884,000-square-foot project that will mix a hotel and retail space into an office development intended for lifescience companies in the Bay Area.

Brewery Snaps Up Property Next to Angel Stadium

Win-Dor Site Once Eyed For 20-Story Office Tower

Golden Road Brewing, a growing craft beer maker based in Los Angeles, has snapped up an industrial building across the street from Angel Stadium for its first Orange County location.

Montage Laguna Beach Sells for $360M

Chicago-based Strategic Hotels & Resorts Inc. bought the Montage Laguna Beach for $360 million, the hotel investor said.

Ex-Sunstone CEO’s Basic Bet: What Goes Up Must Come Down

REAL ESTATE: Hedge-like fund eyes end to strong run for hotels

Ken Cruse, who recently left the top job at Aliso Viejo-based hotel investor Sunstone Hotel Investors Inc., has started an investment company that will try to take advantage of the next downturn in the hospitality industry.

Broadcom’s $778M Solution

Chipmaker Puts Price on Plans for Great Park Campus

Irvine-based Broadcom Corp. is investing nearly $800 million for its new headquarters next to Orange County Great Park, according to regulatory filings.

Hyundai Capital Adds 178,000 SF in Airport Area

REAL ESTATE: Entire building at MacArthur and Jamboree taken

Irvine-based Hyundai Capital America Inc. is consolidating a large portion of its sizable local operations at the 4000 MacArthur office campus in Newport Beach.

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Montage LB Sells for $360M

Chicago-based Strategic Hotels & Resorts Inc. has bought the Montage Laguna Beach for $360 million, the Chicago-based hotel investor said on Thursday.

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Montage LB Sells for $360M

Strategic Hotels & Resorts Inc. has bought the Montage Laguna Beach for $360 million, the Chicago-based hotel investor said on Thursday.

Irvine Land Deals Top $100M, Usher in New Plans

Offices Could Join 1,600 Planned Apartments

Nearly 30 acres along a busy stretch of Jamboree Road in Irvine have sold over the past few weeks or are expected to soon, with plans for apartment and office development expected to start on the sites.

Builders Named for Great Park Homes

Irvine-based Standard Pacific Corp. is the lone locally based homebuilder tapped to build homes at Beacon Park, the second community planned for Great Park Neighborhoods.

Irvine Co. Gets Santa Clara Offices for $137 Million

Silicon Valley Portfolio Now Tops 4 Million SF

Irvine Company has made another pricey office investment in the Silicon Valley city of Santa Clara.

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