Orange County Business Journal

Anaheim Industrial Property Goes for $27.2M

REAL ESTATE: Biggest industrial spec sale in years

A recently built industrial facility in Anaheim just outside the Platinum Triangle has been sold to a logistics company that is expanding its local operations.

Top Public Cos. Total $134B on 18.7% Gain in Market Cap

ECONOMY: Allergan No. 1 again; Western Digital adds $9.6B

Orange County’s largest publicly traded companies combined for a cool $20 billion boost to their market valuations over the past year, thanks to strong gains by Allergan Inc. and Western Digital Corp., the largest representatives of the local healthcare and technology sectors.

CDM, South Coast Metro Sales Come at High Price

Retail Properties Bring $520 Per SF and Higher

A pair of smaller-sized retail properties in Corona del Mar and Santa Ana have changed hands at eye-catching prices.

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Taylor Morrison Venture Buying San Clemente's Marblehead Site

Taylor Morrison Home Corp. is buying San Clemente’s Marblehead residential development.

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Taylor Morrison Venture Buying San Clemente's Marblehead Site

Taylor Morrison Home Corp. is buying San Clemente’s Marblehead residential development.

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.

Santa Ana Apartment Buys Add Up for Fowler Property

SF Investor on 6-Month Spending Spree in OC

San Francisco-based apartment investor Fowler Property Acquisitions LLC is approaching nearly $100 million in purchases in Santa Ana over the past six months.

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.

No IPO, No Problem for City Ventures

REAL ESTATE: Homebuilder raises $345 million with land sales

City Ventures Inc. has shown that there are other ways to raise money, even as some fellow Orange County-based homebuilders have opted to join a recent trend of initial public offerings.

Bixby Gets 7-Building Campus in Silicon Valley

REAL ESTATE: $110M buy eyed for creative makeover, near new stadium

Irvine-based Bixby Land Co. has bought a seven-building office campus in Silicon Valley, the commercial real estate developer and investor’s largest acquisition in nearly seven years.

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.

Mitsubishi Electric to Consolidate in HB

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

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.

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.

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.

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.

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%.

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 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.

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.

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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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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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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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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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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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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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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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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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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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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.