Mark Mueller covers commercial and residential real estate for the Orange County Business Journal. His beat also includes title insurers and mortgage lenders, as well as government stories that relate to real estate. He can be reached at email@example.com.
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SchoolsFirst Would Likely Be City’s Biggest Employer With 185,000-SF Development
SchoolsFirst Federal Credit Union, the largest credit union in California, is eyeing a site in Tustin to build a sizeable new headquarters facility.
Latest Pushes Area Buys Above $130 Million
The biggest property owners in the Mariners Mile area of Newport Beach have added another building to their holdings.
Ongoing Projects, Pipeline Add Slew of New Homes
Lake Forest, despite being in the shadow of California’s two best-selling master-planned communities, has been holding its own during the latest residential building boom.
Newport Beach-based Olen Properties Corp. has closed on a big loan for its largest local property—a mixed-use development it owns in Brea—and is close to putting some of the proceeds from that and other recent financing deals into an apartment complex it plans to buy outside Orange County.
A 601-unit apartment project has been proposed for a roughly six-acre site next to the Santa Ana Zoo that sold last year to a wealthy businessman from the Inland Empire.
Irvine Co., Shea Put on The Ritz for Latest Projects
Orange County’s newest batch of luxury apartment communities, which command some of the highest rents ever seen among complexes here, aren’t for renters short on cash.
Large Projects Feed 31% Sales Growth
Close to $4 billion was spent on new homes in Orange County last year as builders here posted their best sales year since 2003, thanks to new projects going up at the area’s largest master-planned communities.
REAL ESTATE: Initial buy for firm headed by ex-Lincoln exec
A real estate investment, management and development firm that started operations last year has made an office in Irvine near The Market Place shopping center its first investment.
Newport Beach-based homebuilder William Lyon Homes said that its namesake and founder, General William Lyon, has stepped down as a director of the company.
Paid $185M in ’13; Could Sell for About $250M
Irvine-based Pacific Hospitality Group should make a big profit off the planned sale of one of its high-end properties.
REAL ESTATE: Emmes Group close to re-entering office market
New York-based Emmes Group of Cos. has been selected to buy the Main Plaza office buildings near John Wayne Airport in what looks to be the first big local office transaction of the year, real estate sources tell the Business Journal.
Irvine-based CoreLogic Inc. said that Chief Executive and President Anand Nallathambi is taking a temporary medical leave of absence from the company.
REAL ESTATE: 10-acre former farmland fetches $17.7 million
The developer of Orange County’s largest industrial project over the past decade has bought another site along the Anaheim-Placentia city line for what’s planned to be a multibuilding industrial project.
Pays About $43.6M For Tustin’s El Paseo Rentals
Raintree Partners, a Laguna Niguel-based apartment and mixed-use property owner and developer, has added another big rental property in Tustin to its portfolio, thanks to a recent transaction it made with Irvine Company.
REAL ESTATE: Cresa OC will shift to Savills Studley brand
Orange County’s two largest commercial real estate brokerages that focus on representing tenants have joined forces.
REAL ESTATE: Past Traveland site could hold 1,710 units
Irvine Company is looking to turn the former Traveland USA site on the edge of the Irvine Spectrum area into an apartment development with up to 1,710 units in a project targeting middle-income earners.
Classic Cars Could Anchor Event Center, Museum
Ted Segerstrom calls his vintage car collection a “Shelby Shrine.”
REAL ESTATE: 240,000-SF lease fills project on Imperial
An importer and distributor of automotive parts with headquarters in the Bay Area is moving its Southern California regional distribution center from Torrance to a newly built facility in Brea.
REAL ESTATE: Shrinkage continues, Lensar to lender
Alphaeon Corp. plans to switch out its glitzy headquarters in Irvine this year for a much smaller location in the area in the latest sign of shrinkage for the lifestyle healthcare company.
Tapped for CFO in 2009; Led IPO, Refis and Buys
Good luck finding a local chief financial officer who’s been part of as many complex transactions—including a corporate restructuring, initial public offering, acquisition push, and a string of big-dollar financing deals—as Colin Severn has during his seven-year tenure at William Lyon Homes.
Under Contract to Buy Facility for $7.8 Million
Rancho Santa Margarita-based Liquidmetal Technologies Inc., a maker of alloys used in medical devices and consumer electronics, is under contract to buy a larger facility in Lake Forest.
HomeAid America, a Newport Beach-based building industry charity, said CalAtlantic Group Inc. executive chairman Scott Stowell will lead its Board of Directors as Chairman for the next two years.
HOSPITALITY: Group that got Irvine Hilton expected buyer
An investment group that recently bought the Hilton Irvine/Orange County Airport hotel on behalf of clients in China is close to making another big hotel purchase near the airport, according to hospitality industry sources.
Plans Submitted for Tech Firm’s Sunnyvale Campus
Broadcom Ltd.’s current office campus at University Research Park in Irvine isn’t the only big Irvine Company-owned site in line for a revamp after being vacated by a semiconductor industry company.
REAL ESTATE: Apartments next to MainPlace latest example here
The new owners of an office building next to MainPlace Mall in Santa Ana have proposed building a 247-unit apartment complex on excess land at their property.
REAL ESTATE: Deal follows sale of cart maker to Polaris
S&A Management LLC, one of Orange County’s largest privately held property owners, has added another notable investment in Anaheim to its portfolio.
REAL ESTATE: Builder plans 71 townhomes near JWA
One of the few infill residential development sites in the Irvine Business Complex that’s slated for for-sale homes has been sold to a Seattle-based builder.
524-Unit Irvine Co. Site Beginning to Lease Up
Irvine Company is taking the wraps off its latest rental community, a Newport Center complex with some of the highest rents of any large apartment project in Orange County.
Office Market Matures, Pipeline Gives Way to Infill Plans
Orange County’s newest city isn’t so new anymore, least of all its office market.
REAL ESTATE: $40M complex joins Sakura, Villa de Formosa
The Foothill Ranch office complex that holds the headquarters of mortgage lender LoanDepot Inc. is the latest notable area commercial property to be bought by a wealthy local investor.
REAL ESTATE: Rosendin to lease 144,000-SF regional headquarters
The development team planning a sizeable industrial and office facility near the Platinum Triangle has found a tenant for the speculative project just a little more than a month after buying the Anaheim site.
Foundation Building Materials Inc., a Tustin-based distributor of wallboard and suspended ceiling systems, among other items, has filed for an initial public offering.
REAL ESTATE: Property flipped for Spectrum purchase
Irvine-based Shopoff Realty Investments wrapped up an active year of investments by buying a midsized office in Newport Beach close to its massive Uptown Newport residential development that it’s preparing to begin construction on.
Class B Rents Rise As Cheaper Space Sought
Year-end brokerage statistics show Orange County’s office market is approaching and in some cases exceeding the rental rate highs reached at the top of the last real estate cycle.
REAL ESTATE: Monster Energy execs said to be part of deals
Irvine-based commercial real estate developer Greenlaw Partners, backed by two local high-net-worth investors, capped off an active year of acquisitions with office buys in Santa Ana and Irvine for nearly $120 million.
Newport Beach-based homebuilder RSI Communities said it has bought a 228-acre site in the Riverside County city of Beaumont, where it plans to build a 981-home development called Olivewood.
REAL ESTATE: $400M+ value for law firm skyscraper deal
Olen Properties Corp. has signed its largest and most valuable lease ever while keeping its anchor tenant in place at a skyscraper the Newport Beach-based real estate company owns in Chicago.
$47.5M for 2 Deals; Now Has 9,100 Units There
Irvine-based apartment investor and operator Bascom Group has added two rental properties in Las Vegas to its already sizeable portfolio there.
REAL ESTATE: Fountain Valley, SD sites sell, 2 more planned
The apartment portfolio of Newport Beach-based Irvine Company—the largest owner of rental properties in Orange County and in the state—is slightly smaller after the sale of two Southern California complexes, including one in Fountain Valley.
REAL ESTATE: Irvine Ranch No. 1 in U.S.; 4 locals in top 20
Orange County is one of the most supply-constrained markets in the U.S. for new home development, but you wouldn’t know that based on the surge of sales at the region’s four largest sources of new homes last year.
REAL ESTATE: $10.2 million for city-owned land along I-5
The developer of the Anaheim Concourse industrial campus has closed on the purchase of another, smaller development site near the Platinum Triangle.
17,500 SF Murtaugh Meyer Nelson Lease
Law firm Murtaugh Meyer Nelson & Treglia LLP is moving its practice up a few floors at the Century Centre office complex in Irvine.
REAL ESTATE: Gets 3 buildings, 161,000 SF in Aliso Viejo for $36M
A local investor has acquired the QLogic Corp. campus in Aliso Viejo and is planning to rebrand the site in preparation of the networking products maker vacating the three-building property this year.
Led Hines Through Busy 2016; Intersect in Wings for This Year
The Newport Beach office of Hines Interests LP had a blockbuster year, with a steady stream of notable property acquisitions, sales, leasing news, and redevelopment activity.
REAL ESTATE: Plans filed for trilogy site it bought a year ago
San Diego-based Garden Communities of California has disclosed plans for its third big apartment development in Irvine, an 876-unit complex next to John Wayne Airport.
Food, Entertainment Main Draws at New Retail Landmark in Buena Park
Visitors to Buena Park’s soon-to-open retail center, The Source, next year should have the chance to check out a movie in a theater that incorporates interactive special effects, relax at a spa, play a round of virtual-reality golf, and sample fare from across the globe at a variety of restaurants unique to the area.
$46.5M Spent on 2 Sites That Last Sold for $34.1M
One of the largest business parks in Yorba Linda has been bought by an investor in San Francisco.
REAL ESTATE: Caltrans’ new space last sold for $40M in 2014
A Chicago-based real estate investor that buys commercial properties leased to government agencies has bought the State Fund office in Santa Ana, bringing its 2016 Orange County acquisitions tally past the $120 million mark.
REAL ESTATE: $818M raised in past month for BRAVO III
Pacific Investment Management Co. has raised more than $800 million in recent weeks for a new fund that will invest largely in real estate-oriented assets.